scholarship-policy

Buddy4Study Scholarship Policy

1. Introduction

At Buddy4Study, our mission is to foster educational success for deserving students through meaningful scholarship support. This policy document is designed to provide scholars and funders with a detailed overview of the expectations, processes, and conditions that govern our scholarship offerings. It aims to ensure clarity and transparency for all parties involved, facilitating a supportive and impactful scholarship experience.

2. Application Process Overview
For Funders/Scholarship Providers:
  • Setting Criteria: Funders are responsible for setting clear and transparent eligibility criteria that guide the selection of scholarship recipients.
  • Selection Process: The selection of scholars is a rigorous process that combines merit and financial need. Funders, in collaboration with Buddy4Study, evaluate applications against the established criteria to ensure a fair and objective decision-making process.

For Scholars:

  • Eligibility Criteria: To be considered for scholarships through Buddy4Study, applicants must meet specific eligibility criteria defined by the scholarship funder. These criteria are designed to assess various factors including academic performance, financial need, and other pertinent attributes.
    • ● Application Steps:
    • Registration: Begin by registering on the Buddy4Study platform and completing your detailed profile.
    • Search and Match: Explore and identify scholarships that align with your profile and meet the eligibility requirements.
    • Submission: Apply by submitting your application along with the necessary documentation before the specified deadline.
    • Interviews/Assessments: Participate in any required interviews or assessments as part of the application process.

3. Scholarship Amount per Scholar per Year:
  • Scholarships are intended to support the educational costs of selected scholars. Due to varying levels of funding available, if a student does not secure adequate scholarship funds from a single source, they may apply for multiple opportunities.
  • Buddy4Study maintains a standardized scholarship policy that allows students who have not received 80% of their educational expenses from a single source to seek funding from multiple providers, up to 80% of their total educational costs with a maximum cap of INR 1 Lakh per scholar per year.
  • Scholars must fulfill all eligibility requirements, submit applications by the deadline, be selected through a fair and standard selection process, and complete the scholar onboarding procedure.
  • Scholars may not compel Buddy4Study, any sponsor, or potential sponsor to increase the scholarship cap. The decision to set or adjust scholarship amounts rests solely with Buddy4Study and its current and prospective sponsors.
  • For example, if a student's annual educational expenses are INR 80,000 and they have already received:
    • A scholarship of INR 20,000 for that academic year, they may apply for additional scholarships. The maximum they can receive in further scholarships is INR 60,000, as the remaining cost of education is calculated based on INR 60,000 (80,000 - 20,000).
    • A scholarship of INR 70,000 for that academic year, they are not eligible for additional scholarships since they have already secured more than 80% of the total education cost.
  • Role of Scholarship Providers: Providers should offer opportunities that align with the financial needs of scholars, aiding in their educational journey with optimal support. Clear communication about funding limits from providers is crucial to maintain transparency with scholars.
4. Expectations from Scholars

Scholars receiving scholarship support from Buddy4Study are held to high standards that foster academic success and community engagement. This section outlines the responsibilities and expectations that are fundamental to the integrity and effectiveness of our scholarship programs.

  • Academic Excellence: Scholars are expected to excel in their academics and strive to reach their full potential.
  • Scholarship Disbursement Acknowledgement: Upon receiving scholarship funds, scholars must promptly acknowledge receipt of the funds. This confirmation is crucial for maintaining transparency.
  • Profile Updates and Document Uploads: Scholars must keep their profiles updated and upload all relevant documents as required. This ensures a smooth scholarship management process.
  • Timely Updates: Scholars should inform Buddy4Study about their class or year promotions as soon as possible to ensure their scholarship status remains current.
  • Sharing Information About Other Scholarships: If a scholar receives a scholarship from another source, they must inform Buddy4Study to ensure compliance with scholarship policies.
  • Reporting Achievements: Scholars should inform Buddy4Study of any significant milestones, such as internships, employment, or other accomplishments. This helps highlight the success and impact of the scholarship program.
  • Upholding Reputation: Scholars must maintain the reputation of both the scholarship provider and Buddy4Study at all times, avoiding any actions that could cause harm.
  • Participation in Feedback: Scholars are encouraged to share suggestions on how Buddy4Study can improve its system to better support students.
  • Volunteering and Mentorship: Scholars are encouraged to volunteer for mentoring activities to help create a supportive community.
  • Completing Surveys: Participation in periodic surveys, such as the annual survey, is expected. These surveys help improve the scholarship programs.
  • Pay It Forward: Scholars are encouraged to support future generations by "paying it forward" once they reach a certain stage in life after completing their education.
5. Scholarship Disbursement Process
  • Acceptance of Terms and Conditions: Scholars are initially issued a provisional scholarship offer letter detailing specific terms and conditions related to the awarded scholarship. To proceed with the scholarship and initiate fund disbursement, scholars must explicitly consent to these terms. If the consent is not provided within the designated timeframe, the scholarship offer will be rescinded, and candidates from the waiting list will be considered.
  • Timeframe: The time to receive scholarship funds can vary from 7 days to 6 months, depending on factors such as the receipt of all scholars' details, the decision-making process of the scholarship provider, and the availability of funds from donors.
  • Updates and Tracking: Scholars can track the status of their scholarship and receive updates through their Buddy4Study profile.
6. Scholarship Renewal Process for Multi-Year Scholarships
  • Renewal Criteria: Scholars benefiting from multi-year scholarships must consistently meet specific criteria to remain eligible for renewal. These include maintaining a designated grade point average, completing required activities, and submitting updated documentation as necessary.
  • Renewal Application: To continue their scholarship benefits, scholars must reapply prior to the renewal deadline, providing all required documentation and completing any requisite steps.
  • Decision Timeline: Buddy4Study will communicate the expected timeline for renewal decisions. Scholars can anticipate receiving a decision within this established timeframe.
7. Conditions for Scholarship Revocation and Repayment

A scholarship may be revoked, and the scholar may be required to return the scholarship money under the following conditions:

  • Providing False or Misleading Information: If a scholar provides incorrect, false, or misleading information or withholds relevant information during the application or selection process.
  • Misuse of Scholarship Funds: If the scholarship money is used for purposes other than education.
  • Failure to Maintain Academic Progress: If the scholar fails to maintain satisfactory academic progress or is suspended or excluded from their institute.
  • Legal Issues or Criminal Activity: If the scholar is involved in legal issues or criminal activities that bring disrepute to the scholarship provider or Buddy4Study.
  • Violation of Scholarship Terms and Conditions: If the scholar violates any terms and conditions outlined in the scholarship agreement.
  • Misconduct or Bad Behavior: If the scholar engages in misconduct or exhibits bad behavior towards their institute, scholarship sponsors, or Buddy4Study.
  • Non-Notification of Additional Scholarships: If the scholar receives another scholarship from a different source and fails to notify Buddy4Study.
  • Discontinuation or Inactive Enrollment: If the scholar discontinues their education or has inactive enrollment.
  • Double Funding: If it is discovered that the scholar has accepted multiple scholarships in violation of Buddy4Study's policy.
  • Leaving the Program or Changing Course/Institution Without Approval: If the scholar leaves the academic program or changes their course or institution without prior approval.
  • Non-Completion of Required Activities: If the scholar fails to complete required activities such as community service, mentoring, or attending specified events.
  • Non-Compliance with Reporting Requirements: If the scholar fails to comply with reporting requirements, such as providing academic progress reports or financial updates.
  • Incorrect Scholarship Offer: If an incorrect scholarship offer was made due to an error, as determined by Buddy4Study.
8. Financial Management and Budgeting Tips
  • Scholarship Fund Usage: Scholars should use scholarship funds responsibly, focusing on covering tuition, books, living expenses, and other educational costs.
  • Financial Planning: Scholars are encouraged to plan their finances carefully and manage their educational expenses efficiently.
  • Avoiding Debt: Scholars should use scholarships effectively to avoid unnecessary debt and explore education loan options if needed.
9. Scholar Responsibilities and Code of Conduct
  • Academic Integrity: Scholars must maintain academic integrity, avoiding any form of academic dishonesty such as plagiarism or cheating.
  • Behavioral Expectations: Scholars are expected to uphold high standards of behavior, showing respect towards peers, faculty, and the Buddy4Study team.
  • Community Participation Scholars are encouraged to actively participate in the Buddy4Study community through forums, events, or volunteering opportunities.
10. Data Privacy and Security
  • Data Handling: Buddy4Study handles scholars' personal and academic data with the utmost care, ensuring it is stored securely and used appropriately.
  • Consent and Access: Scholars can give consent for the use of their data and request access or deletion of their data as per applicable policies.
  • Security Measures: Buddy4Study has robust security measures in place to protect scholars' information, and scholars are advised to take steps to ensure their own data privacy.
11. Appeals and Grievances
  • Appeal Process: Scholars have the right to appeal decisions regarding scholarship applications, renewals, or revocations. The appeal process is clear and transparent.
  • Grievance Redressal: Scholars can submit grievances or complaints related to the scholarship program, with a defined procedure for resolution.
12. Alumni Engagement
  • Alumni Network: Scholars who have completed their education are encouraged to join the Buddy4Study alumni network to stay connected and contribute to the community.
  • Ongoing Support: Buddy4Study offers ongoing support to alumni, including career counseling, job placement services, and networking opportunities.
  • Giving Back: Alumni are encouraged to contribute to the scholarship fund or mentor current scholars to support the next generation of students.
13. Frequently Asked Questions (FAQ)
  • Comprehensive FAQ Section: A detailed FAQ section addresses common questions about the scholarship application process, eligibility, document submission, renewal, fund disbursement, and more.
14. Contact and Support
  • Scholar Helpline: Scholars facing any issues or requiring assistance can contact the Buddy4Study scholar helpline at scholar-helpline@buddy4study.com.
  • Additional Support: For scholars needing further financial support, Buddy4Study offers additional platforms, such as Kind Circle, to help raise funds on a case-by-case basis.
15. Conclusion

This policy document serves as a reference for scholars & scholarship providers to understand the expectations, processes, and conditions associated with their scholarships. By adhering to these guidelines, scholars can ensure a successful and supportive academic journey with Buddy4Study.

Last updated on 31st January 2025.