UniCreds, a global student loan marketplace, launched the Fly High Scholarship Program aimed at empowering Indian students pursuing higher education across universities in the United Kingdom, the United States, Canada, and Australia for the 2024-25 academic year.

The education loans industry experienced a notable three-fold increase in student applications for financial assistance post-pandemic, with UniCreds witnessing 4.2x surge.

Noteworthy is the significant uptick in Indian women pursuing higher education abroad, particularly in STEM fields. UniCreds has observed a substantial surge in female study abroad aspirants, with women now constituting 45% of applicants, compared to 25% pre-pandemic. There has been a 16% increase in student applicants from Tier 2/3 towns compared to the previous year, including cities like Indore, Bhopal, Lucknow, Chandigarh, and Kanpur.

In an exclusive interview, Amit Singh, Founder, Adventum Student Living (ASL), the parent company of UniScholars, UniCreds & UniAcco, talks about the Fly High Scholarship in detail.

What’s the Unicreds Scholarship? Who is it for?

The Fly High Scholarship program by UniCreds is a flagship initiative aimed at extending substantial financial support amounting to ₹50 lakhs divided across three categories:

₹15 lakhs is specifically earmarked to empower and encourage more women to pursue careers in STEM (Science, Technology, Engineering & Mathematics) fields.

• ₹20 lakhs is dedicated to supporting individuals seeking to pursue a Master’s degree, with exceptional academic and extracurricular achievements, coupled with satisfactory IELTS or TOEFL scores. This category aims to reward academic excellence and foster personal and intellectual growth in well-rounded individuals.

• ₹15 lakhs is specifically reserved for students under 35 years of age from underprivileged backgrounds.

What does the scholarship cover?

Recipients of the Fly High Scholarship will benefit from the flexibility to utilise the awarded funds for various study-related expenses, including tuition fees, textbooks, and other educational resources, as well as living and travelling expenses during their academic pursuits abroad.

How many scholarships are available?

The Fly High Scholarship will be granted to 30 deserving students, with the top 10 winners selected for each category. Each recipient will receive an equal share of the scholarship funds allocated within their respective category.

What is the basic eligibility criteria?

The scholarship is open to students intending to pursue any program in the UK, USA, Australia, and Canada for the 2024-25 academic year. To be eligible, applicants must be UniCreds users and exhibit outstanding academic accomplishments. Specific eligibility criteria for each category are:

1. Women in STEM Category:

– Open exclusively to female candidates applying for undergraduate or postgraduate STEM courses.

– No age limit applies to this category.

2. Masters’ Category:

– Applicants must apply for a Master’s degree and demonstrate exceptional academic and extracurricular achievements.

Satisfactory IELTS or TOEFL scores are required.

– No age limit applies to this category.

3. Need-Based Category:

– Applicants must be below 35 years of age.

– Demonstrated financial need is a prerequisite for eligibility in this category.

Is there an application fee?

There is no application fee for the Fly High Scholarship. It is completely free for all eligible students.

Where and how can one apply?

Interested applicants can apply for the Fly High Scholarship through the UniCreds website by following three simple steps: Click Apply Now and select the relevant category, gather and prepare the required documents, and complete the online application submission.

Applicants can apply for only of the three categories of available scholarship.

What’s the selection process?

Applicants must submit their acceptance letter (optional), statement of purpose, recent marksheets, and admission confirmation/fee receipt. Evaluation criteria include the originality of ideas, clarity of communication, and effectiveness in conveying objectives in the statement of purpose. Additionally, academic achievements and justification of financial requirements (need-based category) will be considered.

What’s the last date of submission?

The Scholarship is open for applications till June 30, 2024.

When will the names of the scholarship winners announced?

That has not been decided yet.