IIM Lucknow offers the following scholarship schemes:
Need-Based IIM-L Scholarships -based on merit and family income. Students whose total annual gross family income does not exceed Rs 4 lakhs are eligible for consideration for this scholarship. The awardees are chosen based on merit for one year at a time in the form of a fee waiver.
Merit-Based or Industry Sponsored Scholarships are several industry-sponsored scholarships given at the end of each academic year based on merit. The value of these scholarships can range between Rs.6,000 - Rs.1,00,000. The benefactors are Reckitt Benckiser, Hindustan Lever Ltd., Ratan Tata, Aditya Birla, EXIM Bank, Citibank, Hughes Software Systems, Central Bank of India, Nestle India Ltd., Apeejay Trust, and Bharti Foundation.
Other scholarships - Students can avail various scholarships offered by various Central Governments, state governments, and other relevant bodies that are available on The National Scholarship Portal or NSP and the respective state government portals.
Fellow Program Scholarships:
Specific scholarships are provided to the students who want to pursue a Ph.D. Candidates interested in the program and are eligible, get a fellowship allowance for up to four and a half years. They are provided with a stipend amount of Rs 35,000 per month during the first and second years. For the rest of the program, 3rd year onwards, the stipend of Rs 40,000 per month is provided after completing the comprehensive exam after the second year.
Contingency Grant:
All resident Indian scholars admitted to the above program are given contingency allowance up to four and a half years. An amount of Rs. 10,000 per annum in I and II years, and Rs. 15,000 per annum during the III and IV years of the program is provided to the students for the purchase of books, stationery, computer hardware, etc. A one-time computer purchase grant of Rs. 50,000, can be availed before the end of course work.
Miscellaneous Financial Support:
The annual membership fee of only one national and only one international professional society during the III and IV years is reimbursed. Travel, lodging, boarding, and local conveyance expenses for case-writing and field-based research during III and IV years, subject to a maximum of Rs. 50,000 are reimbursed. Additional facilities for married FPM scholars whose families are residing on campus are also provided.