1. How did FAP originate?

The Financial Aid Programme (FAP) originated in July 2007 with a generous endowment of INR 54 lakhs (US$ 0.135 Million) from the IIT Bombay Class of 1981. Since then, it has been supported by other batches of IIT Bombay alumni spanning from 1967 to 2020.

2. What is the objective of FAP?

FAP aims to provide cost-free educational funding to IIT Bombay students with social and economic disadvantages subject to their meeting minimum criteria of academic performance in IIT Bombay. Beneficiaries eventually become donors for successive batches.

3. What is unique about FAP?

FAP is a peer-to-peer program where the beneficiaries donate the funds they receive after graduation and fund future students, with the ultimate goal of making the program self-sustaining. It serves as ‘financiers of last resort’ because it addresses the gap areas in the scholarship universe to ensure that really needy students do not fall through the cracks. Scholarships at the Institute level do not always cater to entire financial requirement of a student. FAP covers these requirements to bridge the gap so that no student goes without education at IITB. FAP also provides ‘Bridge Assistance’ to students who are due to receiving scholarships but are delayed at the time of deadline.

4. Is FAP recognised by the IIT Bombay?

On 24th November, 2017 the Board of Governors at IIT Bombay approved FAP as an institute approved scholarship programme for the economically and socially challenged students of IIT Bombay. A representative from the Institute is appointed as a part of the FAP committee and panel.

5. What are the funding sources for FAP?

FAP has few main funding sources: donations from student beneficiaries, alumni donations received from various batches during their reunions through IITB or through IITBAA, individual alumni donations (alumnus Ron Mehta donated USD 2,00,000 to program through FFE) and donations received from corporates (Prakash Cotton Mills, New Silk Route, TATA Motors) as CSR. Under an MoU signed for 2014-18, TATA Motors donated INR 2 crores to FAP under its CSR.

1. Who can apply for FAP?

IIT Bombay students across all programs and disciplines who fulfil the following three criteria are eligible for support under FAP.

  • The annual family income must not exceed INR 7.5 lakhs for metro-based candidates and INR 7 lakhs for non-metro-based candidates.
  • Candidate must maintain minimum CGPA/CPI of 6.00. This may be occasionally relaxed on a case-to-case basis.
  • The candidate must have appeared for any IIT qualifying exam (JEE/GATE/UCEED/CEED/JAM).
2. What does FAP cover?

FAP covers entire registration fee, tuition fee, mess bill. In the case of students who are not eligible for Merit-cum-Means (MCM)scholarships awarded by the Institute, FAP supports full tuition and full mess bills. This however is subject to the beneficiary meeting the selection criteria.

3. Can students who have received Merit-cum-means (MCM) scholarship from the Institute apply for FAP?

In the case of MCM students, FAP supports whatever component the student cannot afford to pay for. The various components are: tuition fee, examination fee, registration fee, gymkhana fee, medical fee, hostel rent, electricity and water charges, hostel establishment charges, mess establishment charges, student benevolent fund, student accident insurance fund. MCM supports only tuition fees and no other components. FAP bridges this gap. The students are also considered for assistance if the MCM scholarship is delayed or not received by the student in time, as a short term ‘bridge assistance’.

4. Are the eligibility criteria for FAP relaxed in any scenario?

Deviations in these criteria could be done, rarely, on case- to-case merit basis as is deemed appropriate in best interest of the students.

5. Does FAP accord special preference to any student group?

Special preference is given to gender and affirmative action.

6. Do beneficiaries pay back the assistance money?

As FAP is essentially a self-revolving peer-to-peer assistance, beneficiaries are requested to donate to the program, in timelines suited to their individual situations. While stipend-receiving PG students typically donate small amounts towards FAP from their stipends, the UG students sometimes choose to donate from the Merit-cum-Means Scholarship that they receive during an academic semester. Many students also choose to donate the money once they secure a job, thus keeping the endowment perpetual and growing. 100% of the donations are utilised for the benefit of the next generation of needy students.

7. How are the applications tracked?

With the support of Tata Motors Ltd (TML), who were FAP’s CSR partner, we have built an MIS system to manage application process, screening, interviews, result declaration and fee disbursals, and track donations online. The system also supports sending alert messages to students for scheduled interview or any other such event.

8. How does one apply for FAP?

Students, who meet the eligibility criteria, must register online through the FAP MIS portal and then submit the application form along with supporting documents. Here is the link: http://fap-iitbaa.org/GUI_Form/Login.aspx

9. How many times a year are applications invited from students?

While students will have a one-on-one discussion with the committee mostly once (unless the panel decides to review the application status in the next semester), students need to submit fresh application for assistance every semester.

10. When do applications start and what is the last date of submission?

We accept applications twice in an academic year.

  • For Autumn semester – We receive applications from April to July/August
  • For Spring semester – We receive applications from October to December/January.
11. What documents are required for the application process?
  • 10th standard Mark Sheet
  • 12th standard Mark Sheet
  • JEE/GATE/UCEED/CEED/JAM score card (as applicable)
  • Graduation Mark sheet (if applicable)
  • Post-Graduation Mark sheet (if applicable)
  • Photo Identify Proof of student – IITB ID card /PAN Card)
  • Parents Residential and ID proof (Aadhaar Card/Voting Card/Ration Card/Driving License)
  • Family Income Certificate (Form 16/ITR Return/Bank Statement/Income certificate issued by State Government)
  • Disability Certificate (if applicable)
12. How are applications shortlisted?

Students’ applications are scrutinised and eligible students are shortlisted.

13. Are there any interviews with the applicants?

An in-person interview is conducted to verify the genuineness of applications. Students meet the interview committee for the in-person interview.

14. How and when are shortlisted applicants informed?

After first level of scrutiny, applicants are shortlisted on basis of eligibility criteria. This is done through MIS and a system generated mail is delivered to shortlisted candidate to their registered email ID.

15. Are rejected applicants also informed?

Yes, rejected applicants are informed about rejection with reason for rejection.

16. Can rejected applicants reapply in the next round?

Yes, rejected application can reapply in the next round.

17. How are the funds disbursed?

Student semester fees are transferred directly to the IIT Bombay account. The mess fees are transferred to hostel account.

1. What makes FAP a sustainable program?

A unique feature of FAP is its sustainability and scalability. Unlike many other scholarship programmes, the fund is not locked up in endowments. The entire sum is available to students. Beneficiaries donating back add a great degree of sustainability to FAP as demonstrated by the fact that close to 44 % of the amount disbursed during FY 2019-2020 came from past beneficiary students, who donated back to the program. Thus, the program has a force multiplier effect, positively impacting lives of many students year after year.

2. Does FAP go through external audits?

In 2014-15, two in-depth external reviews of the programme. The KPMG report identified only one Opportunity for Improvement (OFI) in the area of needs assessment, while two additional OFIs had already been taken up for execution. We are proud to announce that FAP is also perhaps the only campus alumni-funded programme that has undergone the rigorous external audit scrutiny conducted by ‘CRISIL’ and emerged with the highest clearance.

3. Who can donate to FAP?

Anyone can donate to the program in individual capacity or as a corporate CSR. FAP Program also accepts foreign donations.

4. What is the donation process?

Donation can be made online, bank transfer (NEFT/RTGS/IMPS) or by cheque. Click here to donate online: https://www.iitbombay.org/page/how-to-donate1

5. Is FAP donation eligible for tax exemption?

All donations to IITBAA have 50% tax exemption as per the Section 8 Not-for-profit status. Alternatively, donations made to FAP program through IIT Bombay gets 100% tax exemption. A receipt towards your donation will be sent to you in a fortnight.