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Naming Rights for Travel & Loan Scholarships
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Naming Rights for Travel & Loan Scholarships

(Version 1.0, Last Update: 9th February, 2013) 

 BITSAA Travel & Loan Scholarships support the travel expenses of students participating in academic/technical/non-technical events of International repute. BITSAA currently offers travel assistance under the following schemes:                                                                                                                                                                                                                                                                                                                                                              
1. BITSAA-IRU Partial Travel Grant : BITSAA Travel Scholarships aims to provide partial support to the travel expenses of students presenting their research work carried out at one of the BITS campuses, in renowned technical conferences conducted abroad. Conferences covered under technical category include conferences in science, math and engineering.

The maximum financial assistance provided by the BITSAA Travel Scholarship Program would usually be up to 37.5% or INR 20,000, whichever is lower, of the total travel expenses incurred by the recipient.

2. Air-Miles: BITSAA-SVC consolidates donated Airline Frequent Flyer Miles and award travel tickets to deserving faculty or students in BITS to participate in international conferences, competitions etc

3. 0% Loan Scholarships:
BITSAA Loan Scholarships aims to provide partial financial support to the students attending non-technical or business or social entrepreneurship conferences/summits/fellowships abroad (HPAIR, World Business Dialogue, StartingBloc etc).

Named scholarships can be made to support BITSAA-IRU Partial Travel Grant and/or 0% Loan Scholarships.

Named BITSAA-IRU Partial Travel Grant

Time limited endowments for 10-20 years as given in the table below. The donor can choose to award the scholarship to any campus of BITS Pilani.

Duration (yrs)

Endowment Amount ($)

Scholarship Amount ($)

10

4K

500

15

5K

500

20

7K

500

 

The above table refers to supporting one student for a limited time period. If the donor wishes to support multiple students and/or to provide higher amounts as scholarships, the adjustments will be made accordingly. BITSAA will work with donors on a case by case basis to accommodate such requests.

Named 0% Loan Scholarship

For a lump sum of minimum $7.3K, one could start a named 0% loan scholarship to help students in their travel to international conferences/events/summits. BITSAA Intl will instruct students to return the money after they graduate and start earning to keep the fund active. The money will be returned to the same named loan pool from which the loan was awarded until the end of the endowment period.

 

Duration (yrs)

Endowment Amount ($)

Award Amount ($)

10

7.3K

1000

15

9.5K

1000

20

11.1K

1000

 

The above scenario is to support one student ONLY with USD 1000. If the donor wishes to support multiple students, and/or to provide higher amounts as loan, adjustments will be made accordingly. BITSAA will work with donors on a case by case basis to accommodate such requests.

Please Note:

a      A small percentage (historically around 0.5% to 1.5% an 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 number of students / faculty 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 (Student Enrichment Fund) will be used for the project with the most need.

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

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

h       For any further questions or clarifications, please contact scholarships-team@bitsaa.org

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