October 18, 2016 1:04:26 pm
A Memorandum of Understanding (MoU) has been signed between Indian Institute of Technology Gandhinagar (IITGN), Tata Motors Ltd. (TML), and the IIT Bombay Alumni Association (IITBAA) to support undergraduate students at IITGN who need financial support. TML will provide the seed funding for tuition as well as other payments and fees a period of four years. Per year, about five students can avail of this fund, making the total number of students benefitting from this MoU to 20 over four years.
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These students will donate the money back to the institution when they are financially independent, which IITGN will then use to back the next batch of UG students. This is aimed at helping the students with their immediate financial needs as well as the bring the institute and its students make stronger connections. The IITBAA has helped bring about the partnership between IITGN and TML.
“Continuing on Tata Group’s tradition of supporting educational institutes of excellence and students coming from deserving backgrounds, we are privileged to collaborate with IIT Gandhinagar.
“In this joint endeavour, we envisage to enable every deserving student at IITGN to excel in studies and not get handicapped for want of resources. We have decided to engage with IITGN, post a very successful experience with IIT Bombay, on a similar Financial Aid Program,” Sri VinodKulkarni, CSR head at TML, said.
“The Financial Aid Program (FAP) was initiated over eight years ago by the IITBAA. Since then the program has supported over 600 students with fund disbursal, crossing Rs 4.3 crores,” Damayanti Bhattacharya, CEO, IITBAA said.
“A substantial number of students joining IITGN belong to lower income families. These students need scholarships and educational aids. This support will help many of our students complete their studies without financial worries,” Professor Sudhir K Jain, Director, IITGN said.
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