LIC Scholarship

LIC-Scholarship

It goes without saying that substantial award or endowment can help students and their parents to get rid away from a great monetary burden known as ‘education loan’. With a lot of students aspiring to pursue their desired courses in their dream university, scholarships play an important role in encouraging them to begin their journey of success. One of the famous state-owned insurance group and investment company in India, Life Insurance Corporation has taken the initiative to provide LIC Scholarship to students in need of financial help for higher studies. This article will help you with all the details about LIC Golden Jubilee Scholarship Scheme 2020 along with the procedure for application.

Understanding LIC Scholarship

LIC, India provides LIC Golden Jubilee Scholarship for meritorious students belonging to economically weaker families. LIC aims to support students with better opportunities for higher education and thus enhancing their employability.

The LIC Scholarship is awarded to selected students for higher studies in a government or private university/college in India. Other than this, the scholarship will also cover vocational and technical courses of graduation level in Industrial Training Institutes (ITI) or Industrial Training Centres affiliated with the National Council for Vocational Training (NCVT).

LIC Scholarship Details 2020

EventDetails
Name of the ScholarshipLIC Golden Jubilee Scholarship
Scholarship ProviderLife Insurance Corporation
Applicable forStudents belonging to economically
weaker families (EWS) and aspiring to pursue
higher studies
Scholarship StateAll India
Scholarship Amount₹10,000 per annum
Scholarship Apply DateAvailable
Scholarship Last DateDecember 24, 2019
Release Date of the List of Shortlisted StudentsDivisional Offices will process the online applications
received from the applicants. Shortlisted students will be contacted directly.
Mode of ApplicationOnline
Official Websitehttps://www.licindia.in/

Courses under LIC Scholarship

LIC Golden Jubilee Scholarship is applicable for students who have passed 10+2 or its equivalent and are interested to pursue higher education in the following fields from a government or private university/college in India.

  1. Engineering, Medicine, graduation in any discipline or Diploma course in any field or other equivalent courses.
  2. Vocational courses through ITI or Industrial Training Centres affiliated with the NCVT.

LIC Scholarship Amount Details 2020

Selected students for the LIC Golden Jubilee Scholarship will be awarded an amount of ₹10,000 per annum which is payable in 10 monthly instalments of ₹1000/- each. This amount will be directly transferred to the scholar’s Bank Account through National Electronic Funds Transfer (NEFT). Thus, the shortlisted candidates must give their Bank Account details and IFSC code. The students need to renew their account after a year to avail for a scholarship amount for the next session. 

Documents Required

Below is a list of important documents to be scanned and uploaded by candidates during the application process. Any lack of information or even the slightest mistake might lead to their cancellation:

  1. Passport-sized photograph
  2. Signature
  3. Birth Certificate
  4. Caste Certificate
  5. Family Income Certificate
  6. Address Proof
  7. Previous Exam Marksheet

Eligibility Criteria

Below is a tabular representation about the important eligibility requirement for students to be applicable for LIC Golden Jubilee Scholarship:

CategoryEligibility Details
Engineering, Medicine, graduation in any
discipline or Diploma course in any field or
other equivalent courses.
Minimum academic education of class XII
or equivalent with at least 60% marks.
Annual family income does not exceed
₹1 Lakh per annum.
Vocational courses through ITI or Industrial
Training Centres affiliated with the NCVT
Minimum academic education is relaxed to
Class X or equivalent with at least 60%
marks subject to the family income ceiling.

Terms and Conditions

Scholarship will be provided to the shortlisted students for an entire duration of the course by fulfilling the requisite eligibility conditions for renewal. There is a list of important terms and conditions that applicants must keep in mind while applying for LIC Golden Jubilee Scholarship:

  • Candidates will be selected purely on the basis of merit (percentage of marks in class 10th and 12th and family background. Preference is given in ascending order of income with students having the lowest annual family income.
  • Candidate must secure more than 50% marks in graduate courses in Science/Commerce/Arts and 55% in professional streams or equivalent grade in the last examination of the course to renew the scholarship for the subsequent year.
  • Scholarship will only be given to one candidate in a family.
  • The candidate should be regular in attendance in order to continue the scholarship.
  • Income Certificate can be either of the two forms:
    • For Self-Employed Parents: Self-certification through an affidavit on non-judicial stamp paper.
    • For Employed Parents: Supporting documents such as land held, issued by the revenue department.
  • The scholarship may be suspended or cancelled if a student violates any terms and conditions.
  • The scholarship will be immediately cancelled and the amount of the scholarship paid shall be recovered, at the discretion of the concerned Divisional Administration of LIC, if a student is found to have obtained the scholarship by false statement/certificates.
  • LIC Golden Jubilee Foundation (LICGJF) will take the initiative to lay down a detailed procedure for processing and sanctioning of the LIC scholarship to shortlisted students.
  • Evaluation of the scheme will be done by LICGJF at regular intervals.
  • The regulations can be changed at any time at the discretion of the Board of Trustees of LIC Golden Jubilee Foundation.

LIC Scholarship Application Process 2019-20

Here is a step-by-step procedure for you to apply and submit your application for the LIC Golden Jubilee Scholarship. But, make sure you read the guidelines and above-mentioned conditions carefully prior to application. Any error may lead to cancellation.

  1. Visit the official website of  LIC Golden Jubilee Scholarship
  2. Click on the Apply Online (Last date for online application is 24.12.2019)
  3. Fill in all the required details like personal information, academic qualification, corresponding address etc.
  4. Upload all the required scanned document.
  5. One submission of your application form you’ll receive an acknowledgement at your registered email ID.
  6. Also, download the scholarship application form until the list of shortlisted candidate is not available.

Any further correspondence will be made by the Divisional Office mentioned in the acknowledgement mail.

LIC Scholarship: Selection Process

After verifying all the details and documents provided by the applicants, the concerned authority at the LIC Golden Jubilee Foundation will grant the scholarship to the shortlisted candidates.

There are several other scholarship programs available for Indian students, some of these are-

We hope you have become familiar with the easiest way to process your LIC Scholarship application. If you’re planning to pursue a higher education in top universities abroad, you’d be looking for various scholarship schemes available for Indian students. Don’t worry, reach out to our experts at Leverage Edu and grab everything you need to know!

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