LIC Golden Jubilee Scholarship 2021

2020 was a tumultuous year. A year where we became prisoners in our own homes, a time where we greeted friends, not with a handshake or a hug, but with covered mouths over a distance of 2metres. However, here is LIC Golden Jubilee Scholarship 2022

As we humans felt the staggering blow of this ravaging pandemic, so did our economies. Countries suffered a downturn in economic activities and recession was the order of the day. It was even likened to the period of the Great Depression. As the death toll increased so did the poverty rate, and India was not left out.

Finally, the year came to an end, and we crawled out of our holes only to find out that most of us were jobless. People were retrenched from their jobs in the middle of this crisis with their severance packages being handed to them and the words saying “it was nothing personal, the economy is just really bad”.

The poverty rate increased especially amongst the middle and lower classes and people found it hard to eat much more to send their kids to school.

As I surfed through the net, I stumbled on what is called the LIC Golden Jubilee Scholarship scheme 2022. The LIC is an acronym that stands for Life Insurance Corporation.

So, I decided to share my findings on it and let the financially handicapped people who live in India know that all hope is not lost as this scheme would help to take a portion of the burden off their hands when it comes to putting their wards through the higher institution.

What is Golden Jubilee Scholarship Scheme?

This scholarship scheme is owned by the Life insurance Corporation, which was inaugurated in the year 1956. The Golden Jubilee scholarship scheme was founded to help children who merited it further their education.

This was done to help smart kids from weak financial backgrounds pay their way through college in India, which in turn would help increase their chances of employment. It is awarded for studies in both private and public universities.

It also covers vocational and industrial courses in centers recognized by the National Council for Vocational Training (NCVT).

Who is Eligible For The LIC Scholarship Scheme?

I am sure this would have been the next question on your mind as you got to know why the scheme was founded so I’ll advise that you go through the points I will state below to know if you fit the picture of what the scheme requires in a prospective applicant.

First of all, there are two categories of scholarship, and it’s always on a divisional basis. One is for the regular scholar while the other is for the special girl child.

Based on the LIC division, the regular scholarship is shared equally between both boys and girls. Normally 20 regular scholarships are given, meaning 10 will be awarded to boys and the other 10 will be given to the girls.

For the Special scholarship for the girl child, only 10 scholarships are given, and it is normal for the 10+2 pattern (which is an intermediate level)

Read this: 15 Entrepreneurship Scholarships For Undergraduate Students

For the Regular scholar.

  • You must have passed the Class XII exam or its equivalent and you must have scored up to 60% or its equivalent in the previous year. You also intend to pursue higher education in medicine, engineering, graduation in any other discipline, diploma courses in any field or any equivalent courses, Vocational courses, through Government recognized institutions in Industrial Training Institute. OR
  •  You must have passed the Class X exam or its equivalent and you must have scored up to 60% or its equivalent in the previous year. You also intend on pursuing higher education in the field of vocational courses through Government recognized colleges/institutions or courses in Industrial Training Institute (ITI)

For the Special Girl Child

  1. You must have passed the Class X exam or its equivalent with a minimum of 60% or its equivalent and you are actively pursuing higher education in the 10+2 pattern, which is for two years.

General Eligibility Criteria.

  1. Parents’ or guardians’ annual income should not be more than Rs 2,00,000.
  2. If a family member is already a beneficiary of this scholarship, you wouldn’t be eligible.

What is the Duration of The Golden Jubilee Scholarship?

For the regular scholar, the scholarship will last throughout the particular course which he/ she is studying. It is also meant only for undergraduate studies, not for post-graduate studies. For the girl child scholar, the scholarship only lasts for two years.

How Can I Get The LIC Golden Jubilee scholarship?

As long as you tick all the boxes on the eligibility list, you can apply for the scholarship. After your documents are verified, you may or may not be selected. The whole process is based on merit, so have no fear.

How Can I Apply For The LIC Golden Jubilee Scholarship 2022?

The date for this year’s scholarship has not been disclosed. However, thanks to technology, the application process is online-based. All you have to do is just follow these easy steps;

  1. Log into the official website of the golden jubilee scholarship scheme.
  2. Go to their homepage and scroll down to the bottom where you will see an option named LIC golden jubilee scholarship apply online. Click on this
  3. This will bring out the application form which you need to fill with details such as your name, parents’ name, date of birth, gender, and some other information.
  4. Make sure you have your documents as you will also need to upload them in other to complete the application
  5. When you are done, click on the submit button.
  6. After successfully submitting the application form, an acknowledgment number will be sent to your registered email address.

Required Documents For The LIC Golden Jubilee Scholarship

Here are the required documents for this scholarship.

  1. Aadhar Card
  2. Identity card
  3. Educational qualification document
  4. Bank account passbook
  5. Passport size photograph
  6. Mobile number
  7. Income certificate

Process Of Selection Of Candidates

The selection of candidates will be on merit. The educational background of the applicant will be assessed with emphasis on the percentage marks scored in class X/XII as well as the annual income of the applicant’s family.

In addition, they will preferentially select eligible candidates with the lowest income in ascending order.

Also, check this: Chevening Scholarships for Rwandan Students 2022

Rate Of Scholarship

Regular Scholars

A total sum of Rs 2,00,000 will be awarded annually which will be payable in three installments.

For the Special Girl Child

A total sum of Rs 1,00,000 will be awarded annually, and it is also payable in three installments.

The Scholarship will be transferred to the Bank account of the shortlisted scholar through NEFT. So, in case a candidate is selected for the scholarship, he/she will be mandated to provide their bank details, IFSC code, and a copy of the canceled cheque with the name of the beneficiary.

Conditions For Selection/ Renewal Of The LIC Golden Jubilee Scholarship.

  • Candidate should have scored an average of 60% in the previous final examination and his/her parents’ income should not be more than Rs 2,00,000.
  • The scholarship cannot be given to more than one student per family.
  • Income certificate has to be on a self-certification basis by way of an affidavit on non-judicial stamp paper for parents who are entrepreneurs while for those who are employed, it has to be from their employer. It should be supported by documents from the revenue department.
  • The student should be in regular attendance and shall meet up with the required limit as set by the competent authority in the school/college or university.
  • Also, the candidate has to secure more than 55% marks in professional streams and 50% in graduation courses in Arts/Sciences/Commerce in the previous final examination of the course for which the scholarship is being awarded else it will lead to discontinuation of the scholarship.

It is worthy of note that the scholarship board has zero tolerance for people who might want to obtain the scholarship through fraudulent means.

If a student is found to have obtained the scholarship through deceptive means, not only will the scholarship be terminated, they will also refund the money which was paid. However, this will be at the discretion of the Divisional Administration of LIC.

For more information on scholarships

My Take On The LIC Golden Jubilee Scholarship(Conclusion).

First, I would want to appreciate the LIC for doing a great job by founding the Golden Jubilee Scholarship as their way of giving back to society. It is a wonderful thing to do as every child deserves a right to education. However, I have some issues with the rate of the scholarship.

  1. The scholarship scheme is done to sponsor students in both private and public universities but from my research, the money being awarded for the scholarship might be enough to take care of the tuition of the candidate who is in a public university with some change left to spare but for someone in a private university it might just be barely enough to cover the tuition so I would advise anyone who wishes to study in a private institution either to switch to a government-owned one or find alternative ways to augment the money being given.
  2. Still on the rate of the scholarship, even though I think their idea was to make the remuneration equal across the board, I think it should rather be judged based on the particular course the candidate is pursuing. This is because some courses not only task the candidates mentally but also financially as they might require a lot more textbooks and equipment when compared to their counterparts.

I wish the members of the Golden Jubilee Scholarship board will look into these issues and see how some adjustments might be made.

Finally, I would recommend this scholarship for Indian kids who come from an economically disadvantaged background, as it could be the push needed to propel them to great heights.

Frequently Asked Questions On The LIC Golden Jubilee Scholarship.

What is the mode of application?

The mode of application is online-based.

What is the last date to apply for the scholarship?

For now, the last date to apply for the scholarship has been disclosed.

How are candidates selected?

The selection of candidates is based on merit. The educational background of the applicant will be assessed with emphasis on the percentage marks scored in class X/XII as well as the annual income of the applicant’s family. Eligible candidates with the lowest income will be preferentially selected in ascending order.

How will you know that you have been selected?

After the various divisional offices have processed the online applications, candidates who are shortlisted will be contacted directly.

References

  1. Life Insurance Corporation of India
  2. Scholarship

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