Ramanujan School of Mathematics SUPER 30 Team-We have failed you

          The following Internet Articles describe the trials and tribulations of Super 30 achievers.  

          A bunch of dedicated students have overcome all odds to qualify for admission to Indian IITs

          They have navigated the perils of emotional barriers to reach the final hurdle. The final hurdle of INR45,000/- seems insurmountable to  a many Super 30 2015 class student.

          This NDTV article (@Super 30 Helped Them Clear The IIT Exam. Now, They Need Your Help), underlines how collectively We INDIANS have failed the brightest minds of our country.

Super 30 students short of money for IIT counselling

          RAMANUJAN SCHOOL OF MATHEMATICS  does not take any donations as Mr.Anand believes donations hinder the teaching process at RAMANUJAN SCHOOL OF MATHEMATICS .

          One simple way to support these super achievers is through Education Loans.

          In India Education Loans are provided by Banks and select finance companies.

 One of the key aspects of the IIT Seat counselling process is the ‘Seat Acceptance Fees’. Only after payment of this ‘Seat Acceptance Fees’, the Admission Letter is issued to the student.

This creates a piquant situation Banks can provide education loans only if students have Admission letter. Many RAMANUJAN SCHOOL OF MATHEMATICS  Super 30 students do not have funds to remit the ‘Seat Acceptance Fees’, itself. The struggle has already started.

Extract from IBA’s MODEL EDUCATIONAL LOAN SCHEME FOR PURSUING HIGHER EDUCATION IN INDIA AND ABROAD:

Student eligibility:

·       The student should be an Indian National.

·       Should have secured admission to a higher education course in recognized institutions  in India or Abroad through Entrance Test/ Merit Based Selection process after completion of HSC(10 plus 2 or equivalent)

Expenses considered for loan :

      i.         Fee payable to college++/ school/ hostel*

     ii.         Examination/ Library/ Laboratory fee

   iii.         Travel expenses/ passage money for studies abroad

    iv.         Insurance premium for student borrower, if applicable

     v.         Caution deposit, Building fund/refundable deposit supported by Institution bills/receipts. **

    vi.         Purchase of books/ equipments/ instruments/ uniforms***

  vii.         Purchase of computer at reasonable cost, if required for completion of the course***

 viii.         Any other expense required to complete the course - like study tours, project work, thesis, etc.***

   ix.         While computing loan required, scholarships, fee waiver etc., if any available to the student borrower may be taken into account.

It would be great, if Banks can provide Loans by taking appropriate waivers from top management.

Q: What is the amount at risk?

Ans: INR 18,00,000(Rupess Eighteen lacs)

Seat Admission Fees INR45,000/-

Other expenses INR15,000/-

Total INR60,0008 * 30 = INR 18,00,000(Rupess Eighteen lacs)

Education Loans are far superior to other options i.e Waiver of fees, crowd sourcing etc