Young India Fellowship

Financing your YIF education

This section contains information on the following:

• Chancellor’s Merit Scholarship
• Need-based Financial Aid
• Education Loans
• Programme Fee
• Refund Policy for Admitted Candidates

Chancellor's Merit Scholarship for Young India Fellows

We are pleased to announce the Chancellor’s Merit Scholarships for Young India Fellows, independent of the University’s Need-based Financial Aid programme. Around ten such scholarships, covering the tuition and residence fee, will be awarded to exceptional candidates admitted to the YIF Class of 2024. Recipients would have typically excelled in more than one area of engagement while also demonstrating leadership.

A few admitted candidates in each round will receive an invitation from the YIF Admissions Committee to appear for the Chancellor’s Merit Scholarship interview. Invitations will consider academic, non-academic and/or professional excellence, combined with performance in the holistic selection process. Please note that there is no separate application process for the Chancellor’s Merit Scholarship.

 

FAQs

• When can I apply for the Chancellor’s Merit Scholarship? Candidates do not need to make a separate application. All candidates receiving offers for the YIF Class of 2024 will automatically be considered for the Chancellor’s Merit Scholarship shortlist. 
• What is the basis of selection for the Chancellor’s Merit Scholarship? Candidates will be shortlisted based on their academic, non-academic and/or professional achievements, demonstrated leadership and performance through the holistic selection process. Successful candidates will receive a 100% waiver on the tuition and residence fee, implying that they will only have to pay for the meal plan (unless they also receive need-based financial aid that covers their meals). 
• When and where will Chancellor’s Merit Scholarship interviews take place? When will candidates know the decision? Some candidates who receive an offer of admission and financial aid, will also receive an invitation for the Chancellor’s Merit Scholarship interview, which will be scheduled for roughly a week after a candidate receives their offer. The interview may take place virtually or in-person. Candidates will know whether or not they have received the Chancellor’s Merit Scholarship before their offer acceptance deadline. Please visit the timelines page to learn more about the dates.
• Should I apply for the Need-Based Financial Aid if I am interested in becoming a Chancellor’s Merit Scholar? The need-based Financial Aid programme aims to provide necessary financial support to help you bridge the gap between the programme’s cost and your ability to pay. Only a few offer holders will be invited to the Chancellor’s Merit Scholarship interview, so all applicants shortlisted for the Personal Interview are encouraged to apply for Need-Based Financial Aid. Please read the section below about our need-based Financial Aid Programme to learn more about the application process and the necessary documentation. 
• Can I receive both Need-based Financial Aid and the Chancellor’s Merit Scholarship? Yes, however you would forego whichever scholarship covers lesser of the fee. Offers of Admission and Financial Aid (if granted for those who apply), are sent together. After receiving the offer, a candidate who has received financial aid, may also receive a shortlist notification for the Chancellor’s Merit Scholarship interview. If successful, the candidate would forego the Financial Aid grant, to accept the Chancellor’s Merit Scholarship. The only exception to this would be in case of a circumstance where you are awarded a 100% waiver on Tuition, Residence and Meals via the need-based Financial Aid programme. In this circumstance, you would be a Chancellor’s Merit Scholar, with a need-based waiver on Meals.

Need-based Financial Aid for Young India Fellows

Ashoka University’s need-based Financial Aid programme aims to provide necessary financial support which can help you bridge the gap between the cost of the programme and your ability to pay. Several benefactors, including YIF alumni, have made financial aid possible. Before awarding need-based financial aid to Fellows, we expect that the Fellow and/or their family/guardian(s) will consider various resources available to them towards financing the cost of the YIF programme. To complement the need-based aid offered to selected candidates, Ashoka University has collaborated with institutions who enable education loans to help cover any gap between the aid offered and the programme fee.

 

Financial Aid Application: Documents and Information

Candidates may apply for Financial Aid if their YIF Application is shortlisted for the interview stage. 

 

Download | Sample Financial Aid Form

 

The following are important points to keep in mind regarding the process:

• The Financial Aid form will open once in each round for approximately one week, and each candidate will have one opportunity to submit an application. Requests made at any other time, especially after receiving an offer of admission, will not be entertained.
• Candidates will have a few days between knowing their shortlist status and the opening of the Financial Aid form, so that they may start preparing documentation accordingly. We strongly recommend not waiting until the form opening, rather procuring required documents in advance.
• It is estimated that it will take a candidate a few hours to complete the Financial Aid form, if the required documents and financial information are in order.
• Please note that in addition to the documentation listed below, we may ask for additional documents during assessment if required (for example, pre-COVID salary slips, in case of reduced pay, GST receipts, etc.)
• Documents need to be converted into PDF/JPG files of sizes under 2MB, with a minimum resolution of 200 DPI, which is readable. Zip folders under 2MB containing all the documents are also accepted.
• For all queries and clarifications, please write to postgraduate.financialaid@ashoka.edu.in BEFORE the submission deadline.

 

Mandatory Documents and Information

Required for all earning members, including the candidate (if applicable).

Documentation	Income Tax Returns for FY 2019-20, 2020-21 and 2021-22 (last 3 years) Bank Account Statements (for the last 12 months) Salary Statements (for the last 3 months) Loan Statements (if a loan expense is shown)
Information	Details of the family’s financial assets, such as investments, real estate, vehicles, etc. Details of any loans, mortgage, etc.

 

Additional Documents and Information (as applicable)

Required in addition to the mandatory documents listed above. 

For Business Families and Professionals	Financial Statements for FY 2019-20, 2020-21 and 2021-22 (last 3 years) P&L Statement Balance Sheet Form 26AS Details of main expenses (only information is required)
For Haryana Residents	The Candidate’s Haryana Domicile Certificate Haryana domicile students are eligible for a full or partial fee concession as per the Haryana Private Universities Act (2006). However, this is subject to the submission of their Government issued Haryana Resident Certificate (Domicile). Please note that Ashoka University reserves the right to determine the percentage of fee concession.

 

Financial Aid: Application Process

Step 1: Becoming familiar with the Financial Aid Application

• Please read through this page comprehensively to understand the philosophy, documentation and information required for submitting a Financial Aid application. 

 

Step 2: Applying for need-based Financial Aid

• Soon after being shortlisted, candidates will receive a notification that the Financial Aid form has been enabled. The form will be enabled in early January 2023 (for Round 1 applicants) and early April 2023 (for Round 2 applicants). 
• Follow the instructions and start the financial aid application immediately.
• Candidates will have 7 days from the ​email notification date to complete and submit the form.
• Prepare for slow internet or other connectivity issues and do not wait until the last minute.
• The deadline is binding and will not be extended.
• Forms not submitted will not be considered for Financial Aid.

 

Step 3: Assessment of Aid Applications

• The Office of Financial Aid will verify and assess each candidate’s application and information provided in the online form.
• Please note that parents/guardians/candidates may ​also ​be contacted during this verification process.
• The Financial Aid Committee will deliberate over the information and make a final decision.
• Please note that the Committee will not follow up for missing documents.
• Candidates are expected to provide detailed comments and documents supporting their request for aid.

 

Step 4: Offer of Admission and Financial Aid

• Candidates selected by the Admissions Committee will be sent an Offer of Admission and Financial Aid, which would include the Financial Aid package (for those who apply) as decided by the Financial Aid Committee. 
• If a candidate has been granted aid, it will be reflected in their fee structure and payment plan.
• Candidates will then be required to follow the instructions on the Admitted Candidate Portal to accept the offer of admission and financial aid by paying the acceptance fee (if applicable) by the acceptance deadline (typically about two weeks from the date of offer). 
• In the rare case of a concern with respect to the Financial Aid decision (primarily owing to any changes in the financial standing of a candidate between the time they applied for aid and when they receive an offer), candidates will be allowed an opportunity to present their case to the Financial Aid Office. 

Education Loans

Ashoka University has collaborated with the following banks and organisations to provide admitted students with the option to explore education loans independent of our financial aid programme.

Please click on the following options for more details:

1. HDFC Credila – Apply
2. Credenc – Website

Programme Fee: Class of 2023-24

The Programme Fee for the Young India Fellowship, Class of 2024 is as follows:

Tuition Fee (T): INR 7,98,000
Residence Fee (R): INR 1,95,000

Total Programme Fee (T+R): INR 9,93,000

Meal Plan charges in addition to the above will amount to INR 60,000. This section will be updated in case of any changes to the meal plan charges.

Refund Policy: Class of 2023-24

Date of Withdrawal	Refund Percentage
On or before 15th June, 2023*	100%
16th June, 2023 to 29th June, 2023	90%
30th June, 2023 to 15th July, 2023	80%
16th July, 2023 to 30th July, 2023	50%
On or after 31st July, 2023	0%

• All refunds will be processed within 15 days from the date of request for withdrawal of admission.
• To read the University Grants Commission Notification on “Refund of Fees and Non-Retention of Original Certificates”, dated October 2018, please click here.