CONDITIONS FOR SCHOLARSHIP
- Scholarship shall be awarded to the students who have secured not less than 60% marks or equivalent grade in the previous final examination and the annual income of whose parents/guardians from all sources does not exceed `1,00,000/- per annum.
- Selection of LIC Scholar will be on the basis of merit and family background such as percentage of marks in class 12th /10th and annual income of the family. Eligible Students having the lowest income shall be given preference in the ascending order.
- The candidate should secure more than 55%marks in professional streams and 50% marks in graduation courses in Arts/Science/Commerce or equivalent grade in the previous final examination of the course for which scholarship is awarded, failing which the scholarship will be discontinued.
- Scholarship shall not be given to more than one student in a family.
- The students should be regular in attendance for which the yardstick shall be decided by the competent authority of the school/college/university.
- Income certificate should be on self-certification basis by way of an affidavit on non-judicial stamp paper for self-employed parents and from employer for employed parents supported by documents (from revenue department) such as land held in the name of parents.
- If a student violates any terms and conditions of the scholarship, the scholarship may be suspended or cancelled.
- If a student is found to have obtained a scholarship by false statement/certificates, his/her scholarship shall be cancelled forthwith and the amount of the scholarship paid shall be recovered, at the discretion of the concerned Divisional Administration of LIC.
- LIC Golden Jubilee Foundation will lay down the detailed procedure for processing and sanctioning of scholarships to eligible students.
- The scheme shall be evaluated at regular intervals by the LICGJF.
- The regulations can be changed at any time at the discretion of the Board of Trustees of LICGJF.
