S. P. Jain Institute of Management & Research (SPJIMR), Mumbai Scholarship 2026 Financial Aid, Merit & Category Scholarships

Scholarships and Financial Aid at SPJIMR

In addition to the merit-cum-means scheme, SPJIMR administers the Mirae Asset Foundation (MAF) Scholarship, instituted by the Mirae Asset Foundation - an Indian charitable foundation focused on educational development - for meritorious and needy participants whose family income is less than Rs. 8 lakh per annum. Every year, two participants from the PGDM first year and two from the second year are awarded scholarships of Rs. 5 lakh each, and recipients are designated 'Mirae Asset Scholars'. Detailed guidelines for this scholarship are circulated among prospective applicants after the commencement of the programme, and both financial assistance schemes are made available only after the academic year has started, following the institute's standard annual review and evaluation cycle. Applicants are advised to check the official fees and scholarships page for the current process and eligibility criteria.

Because both of SPJIMR's principal financial assistance schemes are administered only after the programme has commenced, prospective PGDM applicants should plan to pay the full indicative fee - approximately Rs. 24,86,000 for Indian participants - at the time of admission, and treat any subsequent scholarship or reimbursement as a later adjustment rather than a factor that reduces the upfront payment required. This structure is consistent with SPJIMR's explicit policy of not charging any capitation fee and of running a strictly merit-based admission process with no institutional quota, meaning financial assistance decisions are kept entirely separate from the admission decision itself and are evaluated independently by a dedicated scholarship panel each academic year.

Beyond its own institutional scholarships, SPJIMR participants can also explore education loans from nationalised and private banks, a common route for financing management education in India given the size of the PGDM fee relative to typical scholarship coverage. Since the Merit-cum-Means and Mirae Asset Foundation schemes together support only a limited number of students each year, most PGDM participants at SPJIMR plan their finances around the full indicative fee at the outset, treating any scholarship they may later receive as a welcome but not guaranteed reduction, in line with the institute's stated approach of evaluating financial need only after the batch has commenced and academic performance for the year is available for review.