Financial Assistance Scheme Aimed at Promoting Academic Excellence
Summary
- The Ministry of Education has launched a new scholarship scheme to support meritorious students from economically weaker sections.
- Each eligible student will receive a one‑time grant of Rs. 1 lakh to pursue postgraduate or research programmes.
- Selection is based on a minimum 80% academic score in the previous qualification and a validated family income below the prescribed ceiling.
- The scheme will be administered through the National Scholarship Portal (NSP) and disbursed by the UGC.
- Implementation will begin in the 2024‑25 academic year, covering up to 1 lakh beneficiaries nationwide.
Key Facts
- · Scheme name: Academic Excellence Financial Assistance Scheme (AEFAS).
- · Grant amount: Rs. 1 lakh per student.
- · Eligibility: Minimum 80% marks and family income below Rs. 4 lakh per annum.
- · Implementation agency: University Grants Commission via NSP.
- · Target beneficiaries: 1 lakh students across India for 2024‑25.
- · Application window opens on 1st June 2024.
- · Funds to be released in two installments after verification.
Why it matters
By reducing financial barriers for high‑performing students, the scheme aims to improve India's human capital, boost research output, and promote inclusive growth in higher education.
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