New Delhi :
In a first, of its kind, a Rs 55 million scholarship scheme was launched for students of classes X to XII on Monday. This will be India’s Outside of government initiative, this will be India’s biggest scholarship scheme outside of government initiative.
Lore India Foundation Scholarship Trust announced the scholarships, for students from classes X to XII, which are being promoted by top academicians of the country, including IIT-Delhi professor Seyed E Hasnain, professor, IIT- Delhi, former UGC chairman Hari Gautam, former UGC chairman, and vice-chancellor of National Law %University Ranbir Singh, ice-chancellor, National Law University, Delhi among others.
The scholarship comes with another unique feature monetary awards to top schools to improve infrastructure, acquire new technology or fund meritorious students from disadvantaged background.
There will be 103 scholarships from Rs 3 lakh to Rs 50 lakh, which will be given based on a learning aptitude test (LAT). The undergraduate scholarship endowments can be used by scholars to pursue higher education in any discipline. It can be also used to prepare for coaching required to prepare for entrance exams. to get admission to a programme of the scholar’s choice.
The programme also includes rewards and recognition programmes for schools, which will be ranked based on the performance of their students in LAT. The top three schools in the country will receive monetary awards of Rs 25 lakh, %Rs 15 lakh and Rs 10 lakh respectively.
The scholarship aims to identify, assess, reward and mentor the brightest young minds. The students will be shortlisted through The LAT, which is devised to test a student’s aptitude as opposed to their academic learning, which is being designed by Tata Consultancy Services (TCS). Apart from the Rs 55 million cash reward, qualifying students Qualifying students will receive cash scholarships from a corpus of Rs 55 million and will also be mentored get coaching provided by renowned academicians. They will undergo a comprehensive interest schedule/psychometric test to gain insights that for the purpose. that will allow experts to gain insights and provide them effective guidance. in their educational careers.
LAT is devised to test a child’s aptitude or innate brain power as opposed to their academic learning.
The Lore India Foundation’s governing council includes both serving and retired professors from IITs, IIMS, Indian School of Business, (ISB), Medical Council of India and UGC, among others.
The undergraduate scholarship endowments can be used by scholars to pursue higher education in any discipline. It can be also used to prepare for coaching required for entrance exams to get admission to a program of the scholar’s choice. The scholarship amount is set up as an interest generating trust fund available to the scholar to draw upon for a period of seven years from the date of the award. The first second and third ranked students will get Rs 50 lakh, Rs 30 lakh and Rs 20 lakh respectively. Those between fourth and fifty-third ranks will get Rs 5 lakh each and rest will get Rs 3 lakh.
Registrations opened on July 14, 2014.
source: http://www.timesofindia.indiatimes.com / The Times of India / Home> Education> News / by Mabnash Pratim Gohain, TNN / July 16th, 2014