Now a chance for Class 10th and 12th Students to Earn Whopping Rs.55 Million Scholarship!! A Rs.55 million scholarship scheme was launched for students of classes X to XII on Monday. This is first of a kind scheme in India. This will be India’s outside of government initiative. Also, this will be India’s biggest scholarship scheme outside of government initiative.

This was announced by Lore India Foundation Scholarship Trust, for students from classes 10th to 12th, which are being promoted by top academicians of the country, which include IIT- Delhi professor Seyed E Hasnain, the former UGC chairman Hari Gautam, and the vice- chancellor of National Law University Ranbir Singh, Delhi amongst others.

The scholarship comes with another unique feature monetary awards to top schools to improve infrastructure, obtain new technology or fund meritorious students from disadvantaged background.

There will be 103 scholarships from Rs.3 lakh to Rs.50 lakh. This will be given based on a LAT (learning aptitude test). The undergraduate scholarship endowments can be used by scholars to pursue higher education in any stream. It can be also used to prepare for coaching required to prepare for entrance exams to get admission to a programme of the scholar’s choice.

The programme also includes rewards and recognition programmes for schools. This will be ranked based on the performance of their students in the Learning Aptitude Test. The top 3 schools in the country will receive monetary awards of Rs.25 lakh, Rs.15 lakh and Rs.10 lakh respectively.

The scholarship aims to identify, evaluate, reward, and mentor the brightest young minds of the country. The students will be shortlisted through The LAT that is devised to test a student’s aptitude as opposed to their academic learning. This is being designed by TCS (Tata Consultancy Services). Apart from the Rs.55 million cash reward, which is a scholarship, this scheme also qualifies students to be mentored and trained by renowned academicians. The students will undergo a comprehensive interest schedule or psychometric test to gain insights that for the purpose. This will allow experts to gain insights and provide them effective guidance in their educational careers.
Learning Aptitude Test or LAT is devised to test a child’s aptitude or innate brain power as opposed to their academic learning.

The Lore India Foundation’s governing council includes both serving and retired professors from IIMs, IITs, ISB (Indian School of Business), Medical Council of India, & UGC, among the others.

The undergraduate scholarship endowments can be used by scholars to pursue higher education in any discipline. This can be also used to prepare for coaching required for entrance exams to get admission to a program of the scholar’s choice. Amount of scholarship is set up as an interest generating trust fund available to the scholar to draw upon for a period of 7 years from the date of the award. Students ranked first, second and third, will get Rs.50 lakh, Rs.30 lakh and Rs.20 lakh respectively. Also, the students ranking between 4th and 53rd ranks will get Rs.5 lakh each and rest will get Rs.3 lakh each.

Registrations for this has opened on 14 July, 2014.

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