Mumbai: How to opt for Magma scholarships

Mumbai: Undergraduate students belonging to poor families forced to discontinue their higher education due to lack of funds can opt for 100 scholarships offered by Magma Fincorp for the year 2018.

During the past two years, Magma has awarded 50 scholarships in each year and already has 99 students availing the scheme, which include 39 students from engineering and medical streams.

Magma offers financial assistance in form of scholarships to such students every year under their scheme “M-Scholar”. Students will be selected on the basis of their academic performance and the socio-economic background of their families.

100 eligible students will be given the scholarship for three years and the maximum age of the applicant as on August 15, 2018 should be 20 years. The scholarship will be granted to students for three-year degree courses in general stream or four years professional or specialised courses in engineering, medical and law. The applicant should have secured minimum 80% marks in school passing out board exam (class 12) in their respective state boards and should come from families having monthly household income of less than Rs 10,000.

The interested and eligible students can send their application to the office of Magma Fincorp Ltd. with the following documents like application letter seeking to be enrolled into the scheme, attested photocopy of the Class 12 marksheet, two set of passport photographs, age proof (school certificate/admin card), address proof and Identity proof, income certificate of parent (monthly Household income must be Rs 10,000 or less per month), college admission proof (for undergraduate course), bank account details and Character Certificate from School last attended.

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