Indian Institute of Foreign Trade (IIFT) Scholarships & Eligibility

The Indian Institute of Foreign Trade (IIFT), New Delhi, an autonomous institution under the Ministry of Commerce and Industry, Government of India, is dedicated to ensuring that financial constraints do not hinder deserving students from acquiring world-class education in International Business, Business Analytics, and Economics. To support meritorious and financially challenged students, IIFT offers a robust ecosystem of internal tuition fee waivers, central government fellowships, corporate-sponsored merit awards, and low-interest education loans.

Types of Scholarships & Financial Assistance

Scholarships at IIFT New Delhi cater to diverse candidate profiles, ranging from economically weaker sections to academic toppers and reserved category scholars.

1. IIFT Institutional New Scholarship Scheme (NSS)

The Institute offers the New Scholarship Scheme (NSS), which replaced the former Need-Based Scholarship Scheme (NBSS).

• Quantum of Assistance: The scheme covers 20% of the tuition fee for all regular full-time programs, including the MBA in International Business (MBA-IB), MBA in Business Analytics (MBA-BA), M.A. in Economics, and Integrated Programme in Management (IPM).

• Coverage: Granted to 10% of the total admitted cohort in regular programs.

2. Corporate & Institutional Partner Scholarships

Several corporate houses and financial institutions sponsor targeted merit-cum-means awards for IIFT students:

• EXIM Bank Scholarship: Instituted by the Export-Import Bank of India, this award is given to the top-ranking SC/ST student entering the full-time MBA (IB) program. The scholarship reimburses the tuition fees paid in the first year, up to a maximum cap of INR 3,50,000.

• O.P. Jindal Engineering & Management Scholarships (OPJEMS): A prestigious merit-based scholarship awarded to first-year and second-year MBA (IB) students at the Delhi campus. The institute nominates the top 10 students from the first year (based on entrance composite selection scores) and the top 10 students from the second year (based on first-year GPA). Shortlisted nominees undertake an online test and interview conducted by the O.P. Jindal Group, with final awardees receiving INR 1,50,000.

3. Central & State Government Scholarships (via National Scholarship Portal)

Full-time students at IIFT New Delhi can apply for central welfare schemes hosted on the Government of India’s National Scholarship Portal (NSP):

• Central Sector Scholarship of Top Class Education for SC Students: Funded by the Ministry of Social Justice & Empowerment, providing full tuition fee reimbursement, living expenses, and laptop allowances for eligible Scheduled Caste students.

• Central Sector Scholarship for Higher Education for ST Students: Funded by the Ministry of Tribal Affairs, offering comprehensive financial assistance to eligible Scheduled Tribe students.

• Merit-cum-Means Based Scholarship for Minority Communities: Offered by the Ministry of Minority Affairs to support meritorious students from notified minority communities.

• Top Class Education Scholarship for Students with Benchmark Disabilities: Administered by the Department of Empowerment of Persons with Disabilities, providing tuition support and disability maintenance allowances.

Eligibility Criteria

To qualify for various financial aid channels, candidates must meet specific income ceilings, academic performance metrics, and category requirements.

Eligibility for IIFT New Scholarship Scheme (NSS)

• Income Limit: Total annual family income from all sources must not exceed INR 8,00,000 per annum.

• Academic Threshold: Awardees must maintain a minimum Grade Point Average (GPA) of 2.4 out of 4.0 (or equivalent scale) in each trimester/term for MBA (IB), MBA (BA), and IPM programs, or a minimum GPA of 6.00 for the M.A. Economics program.

• Non-Duplication Rule: Students receiving any other scholarship or financial assistance from central/state governments or corporate sponsors are ineligible for the NSS.

Eligibility for Government Central Sector Schemes

• Family Income Limit: Generally restricted to students whose total annual parental/family income is below INR 6,00,000 to INR 8,00,000 per annum (as per specific ministry guidelines).

• Documentary Proof: Must possess valid caste/category certificates and income certificates issued by competent government authorities (such as Tehsildar or Sub-Divisional Magistrate).

Application & Disbursal Process

Application Workflow for Institutional Aid (NSS)

• Notification: The IIFT Academic Administration issues an official call for applications at the beginning of the academic year.

• Submission: Students submit the prescribed application form along with verified income tax returns (ITR), salary slips, and affidavit of family income to the Academic Section.

• Screening & Selection: A dedicated Scholarship Committee comprising senior faculty members and academic officers evaluates the applications. If the number of eligible applicants exceeds the 10% ceiling, selection is finalized strictly based on higher academic CGPA.

• Disbursal: Students must initially pay their tuition fees as per regular installment schedules. Following committee approval and competent authority sanction, the 20% tuition fee waiver amount is credited directly to the student’s bank account on a term-by-term basis.

Application Workflow for National Scholarship Portal (NSP)

• Registration: Eligible students register on the official National Scholarship Portal (scholarships.gov.in) using their Aadhaar and academic credentials.

• Institute Verification: The IIFT Nodal Officer for Scholarships verifies the uploaded documents online.

• Direct Benefit Transfer (DBT): Approved scholarship funds are disbursed directly into the candidate's bank account via Direct Benefit Transfer by the respective Ministry.

Education Loans & Financial Partnerships

For students requiring comprehensive coverage for tuition fees, hostel charges, and learning materials, IIFT New Delhi has formal tie-ups and arrangements with major public and private sector banks.

• SBI Scholar Loan Scheme: State Bank of India classifies IIFT New Delhi as a Premier Top-Tier Institution, offering collateral-free education loans up to INR 20,00,000 to INR 30,00,000 at concessional interest rates with extended repayment tenures and moratorium periods.

• Other Partner Banks: Banks such as Punjab National Bank (PNB Pratibha Scheme), Canara Bank, and Union Bank of India provide fast-track loan approvals with zero processing fees for IIFT admittees.

• Covered Expenses: Education loans cover 100% of the tuition fees, library charges, student mess fees, laptop purchases, and international exchange program travel costs.

Frequently Asked Questions (FAQs)

Q1. Does IIFT offer full 100% tuition fee waivers for economically weaker students?

Answer: Institutional financial aid under the IIFT New Scholarship Scheme (NSS) offers a 20% waiver of tuition fees for eligible students with family income under INR 8,00,000 per annum. However, 100% tuition fee coverage is available for eligible SC/ST students through the Central Sector Top Class Education Schemes on the National Scholarship Portal or the EXIM Bank Scholarship for top-ranked reserved category students.

Q2. What happens to the IIFT NSS scholarship if a student's GPA falls below the required threshold in a trimester?

Answer: If a student fails to maintain the minimum prescribed GPA (2.4 for MBA programs) in any given term, the scholarship is suspended for the subsequent term. However, if the student improves their performance and restores their GPA to 2.4 or higher in a later term, the scholarship is restored for the following term.

Q3. Can a student avail of both a Central Government scholarship and the IIFT NSS scholarship simultaneously?

Answer: No. Students are not permitted to draw financial benefits from more than one source simultaneously. If a candidate is receiving any scholarship from the central/state government or a private corporate entity, they cannot claim the IIFT New Scholarship Scheme.

Q4. Is collateral or security required to secure an education loan for studying at IIFT Delhi?

Answer: No. Because IIFT New Delhi is categorized as a premier national institution by major banks (such as SBI, PNB, and Bank of Baroda), admitted students can secure collateral-free education loans up to the full cost of education without providing physical assets as security.

Q5. Are international exchange program expenses covered under IIFT scholarships?

Answer: Regular institutional scholarships like the NSS apply strictly to the core tuition fee structure. However, comprehensive education loans sanctioned by partner banks cover exchange program travel, insurance, and international living expenses.