(i) Scholarship shall be awarded to the students who have secured not less than 60% marks or equivalent grade in the previous final examination and the annual income of whose parents/guardians from all sources does not exceed `1,00,000/- per annum.
(ii) Selection of LIC Scholar will be on the basis of merit and family background such as percentage of marks in class 12th /10th and annual income of the family. Eligible Students having the lowest income shall be given preference in the ascending order.
(iii) The candidate should secure more than 55%marks in professional streams and 50% marks in graduation courses in Arts/Science/Commerce or equivalent grade in the previous final examination of the course for which scholarship is awarded, failing which the scholarship will be discontinued.
(iv) Scholarship shall not be given to more than one student in a family.
(v) The students should be regular in attendance for which the yardstick shall be decided by the competent authority of the school/college/university.
(vi) Income certificate should be on self-certification basis by way of an affidavit on non-judicial stamp paper for self-employed parents and from employer for employed parents supported by documents (from revenue department) such as land held in the name of parents.
(vii) If a student violates any terms and conditions of the scholarship, the scholarship may be suspended or cancelled.
(viii) If a student is found to have obtained a scholarship by false statement/certificates, his/her scholarship shall be cancelled forthwith and the amount of the scholarship paid shall be recovered, at the discretion of the concerned Divisional Administration of LIC.
(ix) LIC Golden Jubilee Foundation will lay down the detailed procedure for processing and sanctioning of scholarships to eligible students.
(x) The scheme shall be evaluated at regular intervals by the LICGJF.
(xi) The regulations can be changed at any time at the discretion of the Board of Trustees of LICGJF.
WHEN TO APPLY :
