adminEducation is the current need of the hour. Hence, most schools, colleges, and universities assist students with financial aid, such as scholarships. These initiatives offer a helping hand and help students achieve their career dreams. At Somaiya, we are committed to making world-class education accessible and affordable. Somaiya Scholarships & Financial Aid programs have earned a reputation as an ‘Institution of Opportunity.’
As of today, financial aid has been provided to 560 students, totaling an expenditure of INR 56,823,864. The numbers are quite large and continue to grow every year.
Financial Aid
Objective of Providing Financial Aid
The main objective of this scheme is to provide financial assistance to Economically Weaker Sections (EWS) and meritorious students pursuing different courses at Somaiya Vidyavihar University, Somaiya Vidyavihar, & Somaiya Ayurvihar. Though admissions are confirmed based on academics, extracurriculars, and other criteria, the aid provided applies to the entire course duration.
Eligibility Criteria for Financial Aid at Somaiya
Being the first private university in Mumbai, Somaiya Institute understands the need to offer quality education that is accessible and affordable. This aid is available to students at the entry level, i.e., while applying for admission.
Financial aid is awarded selectively based on tuition fees. The aid sanctioned ranges from 20% to 80%, depending on the evaluation process. Before availing of lodging and boarding facilities provided by the management, students must demonstrate the need for aid. Only the Financial Aid Committee has the right to finalize the list of beneficiaries.
Here are the eligibility criteria you must know if you’re applying for financial aid at Somaiya Vidyavihar.
• Family income of less than ₹ 800,000 per annum
• People with Disabilities (PwD)
• Wards of defense personnel disabled or deceased in the line of duty
• Applicants who have represented the state and/or country in any recognized sport. (Only for BSc Sports and Exercise Science applicants)
Once you check the eligibility, it is necessary to understand the selection process, which must be followed strictly.
Selection Process
1. Submission
Visit the official admission portal somaiya.edu and submit the financial aid documents along with the admission form.
2. Screening
Applications are reviewed and screened based on the eligibility criteria.
3. Evaluation
Once eligibility is met, the student must undergo an interview round, scrutiny, and verification of documents.
The list of required documents can be found on the website, helping students avoid multiple campus visits.
Scholarships
Somaiya Vidyavihar University empowers students through education. There are outstanding students who inspire others, and Somaiya takes a special interest in supporting them. To provide equal opportunities and contribute to society, scholarships are offered to students who obtain 85% and above in secondary education (10th, 11th, & 12th). Scholarships are also available for newly graduated and master’s students.
Selection Process for Scholarships at Somaiya Vidyavihar
1. Submissions
Applications are submitted to the office with a reference letter from the HOI & HOD.
2. Screening
Applications are reviewed and screened by the scholarship committee based on eligibility criteria.
3. Evaluation
Students categorized as eligible proceed with further scrutiny and document verification.
4. Final Selection
Once finalized, the list is shared with the chairman for approval.
While Somaiya Vidyavihar offers scholarships, merit-cum-need-based scholarships are also available for students who excel academically and require financial assistance.
Types of Scholarships at Somaiya
1. Dr. Meenakshi Rajan Memorial Scholarship
Established in 2017, this scholarship honors Dr. Meenakshi Rajan, a faculty member in S.K. Somaiya College’s History department. Known for her vibrant personality and role in launching the student newspaper VOICES, her legacy continues to support Humanities students in reading, writing, critical thinking, and communication. Only students applying for the Humanities course are eligible.
2. Bharti Nanji Gala Memorial Scholarship
Established in 2014 by Mr. Dhiren Savla and Ms. Priti Shah, Bharti Nanji Gala Memorial Scholarship reflects their commitment to education and gratitude toward K J Somaiya College. Only female students are eligible to apply.
3. Smt. Nirmala Raychand Savla Memorial Scholarship
The Smt. Nirmala Raychand Savla Memorial Scholarship was established in 2014 by Mr. Dhiren Savla, an alumnus of K J Somaiya College of Science and Commerce (1983-1985) and now a Global CIO. Honoring his mother, Smt. Nirmala Raychand Savla, a dedicated teacher who championed education, this scholarship supports women’s education as a tribute to her legacy.
4. Smt. Sakarbai Somaiya Memorial Scholarship (Need-Based Scholarship)
Aims to support students facing financial difficulties by covering tuition fees and other expenses, ensuring education remains accessible to those with limited financial means.
Scholarships under Smt. Sakarbai Somaiya Memorial Scholarship
- Smt. Sakarbai K. Somaiya Memorial Scholarship – Given to students without access to government scholarships or loans.
- Smt. Mayadevi Somaiya Memorial Scholarship – Supports students lacking financial resources to complete their education.
5. Benevolent Scholarship Shri Raychand Karmshir Savla Memorial Scholarship
Supports students facing sudden financial hardships (e.g., family member’s death or job loss), ensuring they can continue their education uninterrupted across all campuses.
Eligibility Criteria
• Students’ family income should be 3 lakhs or less than 3lakhs
• Students can be from any institute or any course across our campuses
• Student must have scored a minimum 80 % in their previous exam
Merit Based Scholarship for Sports Student
The Somaiya Sports Scholarship rewards meritorious athletes representing Somaiya Vidyavihar University at AIU, State, National, and International levels. Offering up to 80% tuition fee waivers, the scholarship is based on past achievements and may be upgraded for exceptional performance. Granted at admission, it remains valid throughout the program, subject to performance and discipline. It applies to UG, PG, and Diploma students at Somaiya Vidyavihar University.
PERA Scholarships
The PERA Scholarship awards up to ₹25,000 annually to first-year students enrolling in Somaiya Vidyavihar University institutions, supporting their education and academic journey.
Mentioned are the scholarships that are available under PERA Scholarships
- Dr APJ Abdul Kalam PERA INDIGENT National Scholarships
- Dr Raghunath Mashelkar PERA GENIUS National Scholarship
- Dr Vijay Bhatkar PERA ASPIRE National Scholarship
- PERA IGNITE Sport National Scholarship
Somaiya Vidyavihar University is committed to ensuring education is accessible to students from all backgrounds. With multiple scholarship opportunities and financial aid programs, we help students achieve their academic dreams while maintaining merit and excellence.
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