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Naming Rights for MCN Scholarships
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Naming Rights for MCN Scholarships

(Version 1.0, Last Update: Feb, 2012)


The Merit-cum-Need (MCN) scholarships are a category of scholarships offered by BITS to students from weaker financial background based on their academic performance. Testimonials show that the students have greatly benefitted from MCN scholarships, especially since their financial burden is alleviated and they are able to concentrate better on their academics. There are certain MCNs started by generous alumni which are managed by BITSAA. The MCN scholarship is awarded in three categories - 25%, 40% and 80% of the tuition fee, based on the academic performance of the student and parental annual income. Please see Appendix A for information on some of the MCN scholarships instituted by alumni.

Option 1

Donate $9,200 or above for a time-limited endowment in your name or in the name of a loved one. Such an endowment can enable an annual disbursement covering 25% of tuition fee at any campus of BITS Pilani.  See Table A & B below for details.

Table A: Fee inflation at BITS Pilani in the last 10 years( Updated June, 2014)

Batch

Semester Tuition (INR)

% increase from previous year

2002

18,000

-

2003

19,000

5.56%

2004

20,000

5.26%

2005

22,500

12.50%

2006

25,000

11.11%

2007

30,500

22.00%

2008

33,000

8.20%

2009

40,000

21.21%

2010

40,000

0.00%

2011

62,500

56.25%

2012

70,000

12.00%

201378,00011.4%
201489,50015%

 

The actual expenses are beyond the current fee of INR 1,79,000 per year. Please see http://www.bitsadmission.com/fd/fdmain.htm#feeschedule

Table B: Time limited endowment amounts. (Calculated with expected rate of return between 5% to 8%, taking into account dollar weakening and fee inflation between 4% to 16%)

Annual Scholarship (%age of tuition in USD per student)(Updated Feb 2012)

Duration (yrs)

25%

40%

50%

80%

100%

10

~9.2K

14.7K

~18.5K

29.5K

36.7K

15

17K

27K

33.7K

54K

67.3K

20

~28K

~44.6K

55.7K

~89.1K

111.3K

25

43.8K

~70.1K

87.6K

140.1K

175.1K

 

Option 2                                                                                                                                              

Make a commitment to donate atleast 25% of tuition fee for a period of 5 years as MCN scholarship. The donor can choose to award the scholarship to any campus. The revision of fee structure per year will be intimated to the donor by BITSAA. The donor can renew the scholarship after the first 5 years by either opting to start an endowment (Option1) or by pledging the minimum amount to award the scholarship for the next 5 years.

The above scenarios covers tuition fee for one student ONLY. If the donor wishes to support multiple students, and/or higher %age of tuition, the amounts will be adjusted accordingly. BITSAA will work with donors on a case by case basis to accommodate such requests and any other eligibility criterion over and above the "merit” and "need” conditions set by BITS.

Please Note:

a     A small percentage (historically around 0.5% to 1.5% and upto 5-6%) of this contributed amount shall be deducted for administrative/ overhead expenses that BITSAA incurs as an organization and shall be pro-rated based on actuals at the end of the year

b      Please note that these numbers are subject to being re-worked in consultation with the donors depending on the fee hike and number of students to be supported per year

c    For endowments - an interest rate between 4 to 8% is considered in the US. Historically, BITSAA      endowment fund (BEF) has consistently achieved interests of 5%-6%. See how our funds have performed over the years at  - http://www.bitsaa.org/?endowment

If the funds are directly endowed with the Alumni account at BITS Pilani, BITS, Pilani shall invest funds transferred in suitable instruments as determined by its investment policy for its own funds.  For accountability and transparency of funds, please refer to our memorandum of understanding with BITS-Pilani and fundraising governance at http://www.bitsaa.org/?page=governance

d        The naming rights might be revised on a regular basis and the donors will be informed about the same.

e         If you are not sure about which initiative to contribute to but still want to make a difference, contribute to the General Endowment. Contributions to the General Endowment will be used for the project with the most need.

f         Click here to view all scholarships hosted by BITSAA. For any further questions or clarifications, please        contact scholarships-team@bitsaa.org

g      All contributions are 100% tax deductible in India and in the USA

h      Instructions for making donations (via cheque, online, other methods etc) are here 

 Appendix A

a)      Dr. S.K. Agarwal Scholarship - http://www.bitsaa.org/?page=skagarwal

b)      Hiralal Agarwal Memorial Scholarship - http://www.bitsaa.org/?page=hascholarship

c)      List of all Tuition Scholarships - http://www.bitsaa.org/?page=currentscholarships

 

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