"AmArican-Indus sets up a scholarship program at IIT BHU for 8-10 students per year."

Funds and the Scholarship Program

(a) AIC will contribute an initial endowment of US $50,000.00 prior to 12/24/2017 should IITBHU approve the AIC Scholarship proposal as described hereunder.

(b) The scholarship is intended to
             (i) fund the education of academically- deserving and economically-disadvantaged students admitted to the undergraduate program at IITBHU and
            (ii) mentor/train other high school students in grades 10th – 12th by developing and/or teaching online 10th-12th grade courses to help students prepare for and successfully compete in the IIT Joint Entrance Examination (JEE). The initial focus will be 9th and 10th grade Math and English courses for the 10th grade students to help them successfully compete for admission to credible IIT JEE coaching institutes such as FIIT JEE. The initial pilot programs will include 10th grade students screened/selected from Government High Schools in and around Sohna, Haryana. The screening/selection of students will be repeated for each batch of the 10th grade students starting in 2018.

(c) Both principal and interest portions of the endowment may be used to fund all scholarships. Every year, starting with 2018, the funds will be supplemented by AIC to ensure that ALL IITBHU students then enrolled in the AIC scholarship program will be able to complete their undergraduate education.

(d) Each year, starting with the new batch of students admitted to IITBHU in 2018, eight to ten IITBHU students with the highest JEE scores but the lowest total parental incomes, not to exceed Rs. 100,000 per year for each such student, will be identified by the Selection Committee (SC) as Economically Disadvantaged (ED) students. Furthermore, such ED students must meet the requirements for Qualified Recipients (QR), as determined by the SC, to be eligible for the AIC scholarships. Both QR and SC are defined below:
             (i) Qualified Recipients: Each ED student must score a minimum overall grade of 7.5 out of 10 during the 1st semester at IITBHU and must maintain such minimum grades for all semesters of education at IITBHU thereafter to continue to receive the scholarships throughout their undergraduate education. The annual scholarship program will consist of no more than eight scholarships to QR students from each new incoming IITBHU class. Each QR student will receive a scholarship of Rs. 60,000.00 per year (or Rs. 5,000.00 per month). Every three years, SC may seek AIC concurrence to adjust the scholarship amounts per student to account for adjustments to tuition expenses and other cost of living escalations as necessary. None of the QR students should be the recipients of any other scholarship(s) e.g. National or state level or funded by any private agency any time during the tenure of the undergraduate education.
            (ii) Selection Committee: SC will initially consist of at least three members including Kunwar Vyomesh as the AIC Representative and others appointed by IITBHU in consultation with the AIC representative. The committee composition may be adjusted as needed by AIC or IITBHU with AIC concurrence which shall not be unreasonably withheld. To recap, the SC will (a) identify 8-10 ED students from each incoming undergraduate class of students at IITBHU at the beginning of each year and (b) designate at the end of the 1st semester each year no more than eight of the ten ED students as QR students eligible to receive the AIC scholarships.

(e) The AIC scholarship holder must not have indulged in any acts of indiscipline resulting in penal action by the Institution authorities. Once one of the awardee fails to fulfill any of the continuation criteria, they will not be eligible for any further scholarship amount for the rest of their undergraduate program. In such an instance, the scholarship for the balance period will be awarded to the next in line ED student as per the discretion of the SC.

(f) In case of multiple qualifiers for the scholarships, the winners will be selected by the SC via an interview session.

(g) Each AIC Scholarship holder must either repay the total scholarship amount once the student starts earning a salary after graduating from IITBHU or while at IITBHU participate in developing training material for 10th -12th grade courses to be imparted as online courses and/or participate in training future prospective IIT students as discussed in 3(b) above. AIC recognizes that practical problems may not allow students to participate in the training program in which case all students must repay the scholarship funds.

(h) The unused portion of funds will be deposited by IITBHU in secure and safe deposits like bank FD's or Central Government bonds or equivalent as per norms approved and currently followed by the Institute. Balance amount will be re-invested and used for future revision of scholarship amount to be done once in three years.

Status of the scholarship on IITBHU Portal

The status of the scholarship and the details of funding and disbursement shall be available in the Institute portal.

Approval of the Proposed Scholarship Program

Upon the approval of the above concept paper, AIC will transfer the funds in the proposed amount to the IITBHU bank account identified as such and advise the Dean of Academic Affairs.