Till 2015, the Tuition fee for a student was Rs.90,000/- per annum, the Merit-Cum Scholarship fully supported the total cost of tuition fee.
From 2016, tuition fee has been revised to Rs.2 lakhs per annum. The Govt. Merit-Cum Scholarship has been revised to 2/3rd of Rs.2 lakhs (ie 1.33 Lakhs). This leaves a sum of Rs. 66,667/- to be borne by the student.
To support each student an endowment of Rs.15 lakhs is proposed.
For 200 students per year, the estimated endowment required is Rs.30 Crores.Eligibility Criteria for scholarship
Donations are exempt under 100% tax deductible by the IRS
All donations are exempt under 80G (100% exemption) under Indian Laws for those who are
Indian Tax Assessee.
|Name of the account holder||INDIAN INSTITUTE OF TECHNOLOGY MADRAS|
|Name of the Bank||AXIS BANK|
|IFSC Code||UTIB0000006 (used for RTGS and NEFT transactions)|
|Address||NO.82 DR.RADHAKRISHNAN SALAI, MYLAPORE, CHENNAI 600004, TAMIL NADU|