Post Selection Process

• At this stage the shortlist of awardees will be arrived at and announced by mid-July. The candidates who had gone through the interview stage will be intimated of their selection or otherwise over email. The decision of the Endowment on the award of loan scholarships will be final and we would request it to be noted that no correspondence in this regard will be entertained.
• The awardees will be required to indicate their formal acceptance of the loan scholarship after which the following documentation formalities will need to be completed.
• For those accepting the loan scholarship the next step will be as under :
• Scanned copies of the following documents should be uploaded on the portal –
• Candidate’s PAN card
• Candidate’s cancelled cheque / latest bank statement
• Guarantor’s PAN card and Aadhar card
• Guarantor’s passport size photograph (500*500 pixels in jpeg format)
• Guarantor’s income proof / latest filed ITR
• After obtaining the visa and flight ticket the candidate and the guarantor (preferably a parent or a relative) will have to visit the Administrative Office of the Endowment, by prior appointment, to complete the necessary formalities. They will be required to enter into a legal agreement with the Endowment. The loan scholarship agreement is for a period of 7 years and requires the scholar to repay the amount in full in five equal installments between the third and seventh year.  Early repayments are however accepted.

Other points of relevance :

• Each candidate must have a guarantor whose liability is on par with the candidate.
• The guarantor should normally be a parent(s)/guardian of the candidate. In the case of a married person, the guarantor can be a spouse or the parents-in-law.
• In case parent/s/spouse are unable to be a guarantor owing to genuine reasons, a guardian or any relative (i.e. any member of the family such as brother, sister, father-in-law, mother-in-law, uncle, and aunt (both maternal and paternal) or any other relative may be the guarantor.)
• A non-relative may act as a guarantor subject to the Endowment’s prior approval and after submitting the relevant documents.
• The documents required to be submitted by the guarantor are: – (i) PAN card, (ii) Aadhar card, (iii) Passport-size photographs (500*500 pixels in jpg format), (iv) Income proof / latest filed ITR.