Education plays an essential role in the personal and social development of a child. The Right to Education is an essential human right and the government of India has encouraged a wide range of initiatives supporting equal educational opportunities for everyone, regardless of gender, caste or age. There are a plethora of scholarship schemes offered by various state governments of India as well as national and international academic institutions to lessen the financial constraints of higher studies on those belonging to unprivileged classes. Public Financial Management System (PFMS) is a central plan scheme monitoring system administered by the Department of Expenditure of the Ministry of Finance. Under this scheme monitoring system, a wide range of PFMS scholarships are offered to students all around India. If you are searching for best scholarships to fund your dreams for higher studies, here’s an insightful blog which will walk you through various aspects of PFMS scholarship, eligibility criteria and the several awards offered under this scholarship.
Overview of PFMS Scholarship
Public Financial Management System (PFMS) is a project formulated by the government of India. It administers various social initiative and keeps track of the resources allocated to individuals. In order to provide equal educational opportunities to students coming from each section of the society, PFMS offers a plethora of scholarship awards for an array of degree program. Below we have listed various awards that are provided under PFMS scholarship.
PFMS Scholarship Schemes for College and University Students
This scheme is for students who have cleared the 12th standard and are planning to pursue a bachelor’s degree or a master’s degree course from an Indian college or university. Here are the key features of PFMS scholarship schemes for college and university students.
- Qualifying level: Class 12th from a recognised board of education.
- Process of Selection: On the basis of senior secondary examinations, total number of 41000 girls and 82000 boys are selected from each state.
- Scholarship Amount: A fellowship amount of Rs1,000 at graduation level for the first three years of college courses and 2,000 INR at postgraduate level. Students pursuing professional courses would be given 2,000 INR per month in 4th and 5th year. The scholarship would be paid for 10 months of an academic year.
- Family Income Criteria: Students applying for PFMS scholarship should have a family income of not more than Rs.6 lakh per annum.
Post Matric Scholarship for SC/ST
This scholarship scheme is for students belonging to SC and ST who want to opt for undergraduate and postgraduate courses in an Indian university or college. Below given are the essential characteristics of Post Matric Scholarship for SC/ST:
- Qualifying level: Class 10th from a recognised board of education.
- Process of Selection: All students from Schedule Caste and Scheduled Tribes are eligible to apply for Post Matric Scholarship.
- Scheme Administration Department: Ministry of Social Justice and Empowerment through State UTs and the Head of Institution.
- Scholarship Amount: Students are provided with maintenance allowances, study tour charges, stationery charges for research scholars, books allowances for students pursuing correspondence courses, book bank facilities for specific courses, additional allowances for special students.
- Family Income Criteria: Family income should not be more than Rs 2.5 lakh per annum.
PFMS Scholarship – National Scheme of Incentive to Girl Child
- Qualifying level: passing class 8th from any State or National board of education.
- Process of Selection: any girl child from schedule caste/scheduled tribe.
- Scheme Administration Department: Department of Elementary Education.
- Scholarship Amount: students are provided with Rs3000 per month
Post Matric Scholarship for Students coming from OBC Background
- Process of Selection: All eligible OBC students pursuing senior secondary certificates for class 10th and 12th. Professional courses leading to a degree, diploma, certificate and post doctoral courses.
- Scheme Administration Department: Ministry of Social Justice and Empowerment through State UTs and Head of Institution.
- Family Income Criteria: family income should not be more than Rs1.5 lakh per annum.
- Scholarship Amount: students will be provided with full tuition fees and other living expenses including 2 lakh per annum.
How to Apply for the Scholarship?
To apply for the multiple scholarship programs provided by the Public Financial Management System (PFMS), the applicants have to register themselves at the online portal of PFMS. Browse through the different scholarship awards and fill out the application form for the one that suits your course requirements. Further, candidates applying for the PFMS scholarship are required to upload the essential documents to verify their eligibility. Here is the list of documents required for the registration:
- Scanned copies of passport size photographs (photo requirements are mentioned on the website)
- Scanned marksheets in PDF format.
- Candidates are required to submit a scanned document containing their signature.
- Candidates are required to provide their Aadhar details in order to complete the procedure.
We hope that this article on PFMS Scholarship helped you understand the details and the requirements of this scholarship. Other than this, there are plenty of other scholarships offered across the globe that support students pursuing higher education unburdening their heavy financial constraints. Let our Leverage Edu experts guide you in choosing the right scholarship that can finance your chosen course and help you successfully get into your dream university.