UniCreds has announced the launch of its prestigious Fly High Scholarship Program, which is set to offer scholarships totaling up to ₹50 lakhs for Indian students planning for higher studies in prestigious universities in the UK, USA, Australia, and Canada for the academic year 2024-25.
Following the pandemic, the sector of education loans has seen a remarkable increase in demands for financial aids, with UniCreds experiencing a significant 4.2x growth in applications. A striking trend post-pandemic has been the surge in Indian women seeking higher educational opportunities abroad, especially in the STEM fields, with their applications rising to 45% of the total, a significant jump from the pre-pandemic 25%. Furthermore, there has been a 16% increase in applicants from Tier 2 and Tier 3 cities, including Indore, Bhopal, Lucknow, Chandigarh, and Kanpur.
Amit Singh, the founder of Adventum Student Living (ASL) – the umbrella corporation for UniScholars, UniCreds, and UniAcco – provided an in-depth overview of the Fly High Scholarship Program during an exclusive interview.
About the UniCreds Scholarship
The Fly High Scholarship is UniCreds’ leading initiative designed to disburse substantial financial aid of ₹50 lakhs across three segmented categories:
- ₹15 lakhs dedicated to supporting women in STEM to encourage female participation in Science, Technology, Engineering, and Mathematics.
- ₹20 lakhs allocated for aspirants aiming for a Master’s degree with notable academic and extracurricular records, alongside qualifying IELTS or TOEFL scores, to acknowledge and foster talent and holistic development.
- ₹15 lakhs reserved for individuals under 35 from economically disadvantaged backgrounds.
Scholarship Benefits
Beneficiaries can leverage the scholarship for a range of academic expenses including tuition fees, textbooks, and living and travelling expenses, facilitating a comprehensive support for their overseas education journey.
Available Scholarships
The program will endow 30 deserving students with this scholarship, with an equitable distribution among the three categories, ensuring 10 top candidates from each segment share the scholarship fund.
Eligibility Requirements
The scholarship is opened to candidates looking to pursue any educational program in the UK, USA, Australia, and Canada for the 2024-25 academic year. Applicants must be registered UniCreds users exhibiting exceptional academic merits. Category-specific criteria include:
- Women in STEM Category: Exclusively for female candidates for undergraduate or postgraduate courses in STEM, without any age restrictions.
- Masters’ Category: For applicants of Master’s degrees showcasing outstanding academic and extracurricular achievements, along with satisfactory IELTS or TOEFL scores, without age restrictions.
- Need-Based Category: Aimed at applicants below 35 years demonstrating financial need.
Application Process
There is no application fee for the Fly High Scholarship. Candidates interested can apply via the UniCreds website by selecting the relevant category, preparing necessary documentation, and submitting the online application.
Selection Criteria
The selection will be based on the submission of various documents including the optional acceptance letter, statement of purpose, recent mark sheets, and evidence of admission. Criteria for evaluation encompass the originality of ideas, clarity and effectiveness of communication in the statement of purpose, academic performance, and financial need (for need-based category).
Important Dates
The application window remains open until June 30, 2024. Further details can be found on the UniCreds website, or inquiries can be made at scholarships@unicreds.com.
The announcement date for scholarship recipients is yet to be determined.