AMCOLIANS ALUMNI ASSOCIATION (AAA)
NEED BASED FINANCIAL ASSISTANCE - SOP 2024

Scope

To establish a comprehensive and equitable process for selecting scholarship recipients based on deserving finance, background on humanitarian basis, ensuring a diverse and talented cohort of scholars. This SOP applies to all applications received for the alumni need-based scholarship financial assistance program.

Aim

Financial assistance to financially deserving AM College students, who are eligible for assistance based on merit including academic performance.

Cardinals
  • Eligibility: Any cadet enrolled in MBBS/BDS at AM College requiring monetary assistance. Academic merit will be given priority.
  • Ineligibility: Cadets already availing any other scholarship at AM College or who fail to perform academically or are relegated due to disciplinary grounds.
  • Amount: Directly proportional to the Alumni Fund.
  • Duration: Cadets selected in the 1st year may be eligible till 5th year for MBBS and 4th year for BDS.
  • Financial Assistance extended to the AM College will be categorized as follows:
    • All financial assistance will be interest-free.
    • Complete Financial Assistance without any payback if strictly falling in criteria and approved by the Executive Council.
    • Partial Financial Assistance without payback. Percentage of assistance will be scrutinized by the Executive Committee on a case-by-case review.
    • 100% payback loan Financial Assistance with a defined duration of payback.
    • Partially payback loan Financial Assistance with a defined duration for payback on a case-to-case basis, and the percentage of the payback amount will be decided on a case-by-case basis by the committee.

Selection Criteria

Sr. Criterion Total Pts Documentary Evidence Pts Interview Pts
a Family Income 40 Pay Slip, E-Stamp / Proof of Income # 30 05 05
b Single Parent 10 Death Cert/ Divorce Paper (NADRA) 06 02 02
c Debts/ Liabilities 10 Amenity Bills 05 2.5 2.5
d Disability/ Med Condition 10 Med Record, (Hospital admission slip, treatment regimen) 05 2.5 2.5
e Residence 10 Ownership/ Rental Agreement 05 2.5 2.5
f Family Size 10 Family Registration Certificate FRC/ B Form 06 02 02
g Employment Status of Siblings 05 - - 2.5 2.5
h Parents Employment 05 - - 2.5 2.5
Total 100 57 21.5 21.5

# preferably with two years bank statement (if not applicable, then certificate verified from local representative on stamp paper)

Score Card

Sr. Criterion Total Pts Score Documentary Evidence Pts Score Interview Pts Score Remarks
1 Family Income 40 Pay Slip, E-Stamp / Proof of Income 30 05
2 Single Parent 10 Death Cert/ Divorce Paper (NADRA) 06 02
3 Debts/ Liabilities 10 Amenity Bills 05 2.5
4 Disability/ Med Condition 10 Med Record, (Hospital admission slip, treatment regimen) 05 2.5
5 Residence 10 Ownership/ Rental Agreement 05 2.5
6 Family Size 10 Family Registration Certificate FRC/ B Form 06 02
7 Employment Status of Siblings 05 - - 2.5
8 Parents Employment 05 - - 2.5
Total 100 57 21.5
Composition of Committee
  • President AAA
  • Vice President AAA
  • Finance Secretary AAA (Signatory)
  • Steering Committee (One Senior Member)
  • Manager AAA
  • Top Donor
Responsibility Matrix
  • Manager:
    • Review of applications, verification of info and shortlisting recipients of scholarship.
  • Accounts Branch:
    • Provision of financials and verification of payments.
  • Website Manager:
    • Formulation and maintenance of financial assistance information on the website used for online application.
    • Automation of assimilated data.
Application and Selection Process
  1. Application Collection: Applications shall be collected through the website portal and in hard copy at any time of the year.
  2. Initial Screening: Applications shall be reviewed for completeness and eligibility.
  3. Academic Verification: Exam branch shall verify academic records.
  4. Socioeconomic Background Verification: Manager / committee shall verify socioeconomic background and financial hardship.
  5. Committee Review: Alumni Scholarship Committee shall review applications, considering all criteria and finalize the result.
  6. Selection: Recipients shall be selected based on the scoring system after documentation for the interview.
  7. Preference: Children of deserving Amcolians and AMC persons will be given preference in merit scoring if deemed appropriate, on the discretion of the committee.
  8. Notification: Recipients shall be notified via phone and email, and a waiting list shall be maintained in case financial assistance of a recipient is canceled at any time.
  9. Cancellation Criteria:
    1. In case of any disaster or if appropriate funds are not available with AAA.
    2. If the financial condition of students improved and he voluntarily requests to discontinue the AAA Scholarship.
    3. If he quits / migrates from Army Medical College.
    4. Liabilities:
      1. The Scholarship Scheme of AAA will become limited if liability with subject to Financial Funds and the number of students will be decided based on the complete tenure of each approved student. However, in case of non-availability of funds, the number of students or the number of years may be scheduled after approval of the Executive Council / Scholarship Committee.
      2. For each approved student for Scholarship, tentative planned funds will be kept reserved in a separate subhead to avoid any discontinuation for the approved tenure.

Scoring Criteria

Documentary Scoring
Family Income
Family Income Points
Rs 10,000 to 30,000 30 pts
Rs 31,000 to 50,000 25 pts
Rs 51,000 to 100,000 20 pts
Rs 100,000 to 150,000 15 pts
Single Parent
  • Yes 06 pts
  • No 01 pt
Debt/ Financial Liability
  • Yes 05 pts
  • No 01 pt
More Documentary Scoring
Disability or Medical Condition of Father
  • Yes 05 pts
  • No 01 pt
Residence
  • Rented 05 pts
  • Ancestral 02 pts
  • Own 01 pt
Family Size/ No of Dependents
Family Size Points
10 - 12 members 06 pts
07 - 09 members 05 pts
04 - 06 members 04 pts
02 - 04 members 02 pts
Interview Scoring
Employment Status of Siblings
  • No Sibling Employed 05 pts
  • 1 Sibling Employed 2.5 pts
  • 2 Siblings Employed 1 pt
Parents Occupation
Parents Points
Both Unemployed 5 pts
Single Parent Employed 2.5 pts
Both Parents Employed 1 pt
Note: Interview based scoring will be at the discretion of the interviewer. However, the max limit of pts asg shall not be exceeded. In case of disparity between docu evidence and interview findings, the interview shall take precedence over docu evidence and scoring may be adjusted accordingly. Pts may be adjusted within the limits proposed.
Number of Recipients

Financial assistance recipients shall be given 8% per month which may be adjusted against either of the following options:

  • Hostel dues.
  • College dues.

College dues will be given priority for continuity of Medical Education.

Financial Aspects
Financial Model:

Following channels way be utilized:

  • Alumni will contribute through AAA in endowment fund
  • Fixed deposit profit
Mode of Payment:
  • Accounts Branch shall adjust subject amount against respective bill generated against hostel/ college dues.
  • Cash or cheque shall not be issued to any student for subject need based scholarship.
  • All payments will be made to AM College instead of releasing amount for the individual.
  • Personal expenses will not be adjusted.
Timeline
  • Need based scholarship portal on the website will be open throughout the year, whereby applicants shall fill their form and upload all documents as indicated.
  • Need based scholarship portal shall be used for verification through predefined criteria as tabulated.
  • Interviews shall be conducted by the manager of all applicants within 15 days of application submission.
  • Shortlisted candidate names shall be forwarded to the President committee who will interview all or selected applicants in the next 15 days of application submission.
  • Interviews of Parents/ Guardians shall be arranged in the next 15 days of the shortlisted students' interviews.
  • Final names shall be forwarded through minutes sheet to President Amcolians Alumni Association for approval.
  • Finalized list shall be shared with Accounts Branch for the needful.
Documentation and Recordkeeping
  • Applications and supporting documents shall be stored securely for the entire duration of the recipient's degree.
  • Selection committee minutes and recipient lists shall be maintained for audit purposes for up to 3 years after graduation of the recipient.
Deduction

Discretionary Power for deduction shall remain with President Amcolians Alumni Association Financial Assistance Committee.

Review and Revision
  • This SOP shall be reviewed annually or as needed for the amount and number of scholarships to be awarded.
  • Committee shall reserve the right to discontinue any financial help without prior intimation on disciplinary grounds.
  • Cadets selected in the previous year to be reviewed for discipline record.
Final Notes

By following this SOP, the scholarship program shall maintain a fair, transparent and inclusive selection process, supporting talented students from diverse backgrounds.

Meeting for scrutinizing of applicants will be done quarterly. To complete this process, the maximum duration will be 20 days.