Financial Aid Programme (FAP) is a 14-year-old honour-based system of sustainable peer-to-peer support which provides merit and needbased scholarships to all undergraduate and postgraduate students of IIT Bombay(IITB) while also offering career preparedness initiatives, such as industrial visits and mentoring. It helps the IIT Bombay students — who are the future of the Institute — to stay in school, graduate and use their knowledge and skills to succeed in their careers and in their lives.
Administered by IIT Bombay Alumni Association in collaboration with IIT Bombay and IIT Bombay Heritage Foundation, Tata Motors Ltd. and Foundation for Excellence (FFE), FAP covers the entire registration fee of students including tuition fees, mess bills, etc. Students who receive financial aid return the money as a donation once they graduate so that it may go to the next student who needs assistance.
All students across all programs and disciplines are eligible for support.
Since its inception in 2007, FAP has supported 903 IITB students with a disbursal of INR 9.57 crores raised largely from alumni, corporate CSR support from Tata Motors Ltd. and donations received from IITBHF.Today FAP donors are spread across geographies and generations spanning batches between 1967 and 2020.
Alumni, representatives of the Institute as well as a representative from Tata Motors sit on the FAP Committee.
IIT Bombay Alumni Association (IITBAA): Established in 2001, IIT Bombay Alumni Association (IITBAA) is a Section 8 not-for-profit company that creates and maintains a life-long connection between IIT Bombay and its alumni. In collaboration with an extremely dedicated volunteer Board of Directors, the Alumni Association works to connect alumni, support students, and build an unforgettable Institute experience through a diversity of events, programmes and services. With over 19,000 registered life members, IITBAA has worked diligently to serve its alumni and alma mater, as well as a host of related constituencies.
IIT Bombay Heritage Foundation (IITBHF): The IIT Bombay Heritage Foundation was established as a non-profit organization to assist the students, faculty, employees and alumni of the Indian Institute of Technology, Bombay. The Foundation, which has the status of tax-exempt organization in the USA is dedicated toward strengthening the links between IIT Bombay and its alumni all across the world.
Tata Motors:Tata Motors is in the business of design, development, manufacturing and marketing of full range of Commercial vehicles, Passenger cars and Utility Vehicles (UVs) for domestic and international markets. Its CSR aims to ensure that companies conduct their business in a way that is ethical by emphasising on social, economic and environmental impact while inconsideration of human rights.
In the FY 2014-15, IITBAA secured the partnership of Tata Motors Limited (TML). The Corporate Social Responsibility team of TML had partnered with FAP under its Vidyadhanam Education Program committing to support FAP for four years benefiting 88 students (22 students every year) with special focus on deserving students from the undergraduate (B. Tech and Dual degree) program. This made FAP the only alumni driven legacy project at IITB to receive corporate support. Over the four-year partnership (2014-18), TML donated a total of INR 2 crores towards 262 students. TML is now a part of the selection committee of FAP and is empowered to make all policy decisions regarding FAP in conjunction with the IITBAA FAP Committee.
In addition to helping the economically and socially disadvantaged IIT Bombay students to achieve theirdream of an IIT Bombay degree, FAP has in the past also undertaken various initiatives for student benefi.....ciaries. partnership with TML enabled the introduction of a number of value-added services such as volunteer interactions,counselling sessions, industrial visits and mentoring programme into FAP. All these were aimed to increase confidence, communication and soft skills and ultimately the employability skills of our student beneficiaries. in fact, until April 2017, FAP also supported purchase of laptops and travel requirements along with tuition & mess fee for deserving students. However, due to increased tuition fee and lack of funds, the current focus ison supporting tuition and mess fees for now.
