Announcing India's Largest Actuarial Scholarship

S.MONK Actuarial
Access Scholarship
Talent Cannot Afford to Wait.

₹5,00,00,000
Scholarship Corpus ₹5 Crore Corpus · India’s Largest Actuarial Scholarship

Every year, hundreds of deserving students abandon their actuarial ambitions not because they lack the ability — but because they lack the means. S.MONK is changing that. This scholarship fund exists to ensure that financial circumstances are never a barrier to entering one of India's most rewarding professions.

Apply for Scholarship Check Eligibility
Up to 90% coaching support
Exam fee reimbursement
Decision within 45 days
All formats — offline & online
₹5L
Total Award Pool
4
Scholarship Categories
₹0
Application Fee
45
Days to Decision
What the Scholarship Covers

Real Support.
Not Just Promises.

🏫
Coaching Fees
Up to 90%
S.MONK coaching fees for your enrolled subject(s) can be supported up to 90% based on your profile and assessed need.
Exact amount at S.MONK's sole discretion
📝
IAI / IFoA Exam Fees
Partial Reimbursement
Examination registration fees paid directly to IAI or IFoA may be partially reimbursed after each genuine exam attempt.
Reimbursement amount at S.MONK's sole discretion
📚
Study Materials
100% Included
All course notes, practice papers, mock exam access, and the S.MONK encrypted offline app are provided at no cost to scholarship students.
Provided for the duration of the course

Important — Please Read: The amount of scholarship support granted is entirely at S.MONK's discretion and is not a right or entitlement. S.MONK may grant 10%, 50%, or 90% support based on the individual profile and assessed need. No applicant may question or contest the amount offered. Applying for the scholarship does not guarantee any particular level of support.

Who Can Apply

Four Eligibility
Categories

Qualifying under any one category makes you eligible to apply. Qualifying under multiple categories strengthens your application.

A
IAI Student Support Scheme
Automatic Qualification

Any student who qualifies for the IAI Student Support Scheme as listed on the official IAI website automatically qualifies for the S.MONK Scholarship. The IAI has already conducted its verification — S.MONK accepts this as sufficient evidence of eligibility.

  • Official IAI Student Support Scheme qualification
  • No additional financial proof required from S.MONK
  • Diagnostic test and video interview still mandatory
B
Financial Need + Academic Merit
Both Criteria Must Be Met

For students with demonstrated financial need and proven academic ability who do not qualify under Category A.

  • Family annual income below ₹3,00,000
  • Income certificate from SDM or Tehsildar only (no lower authority accepted)
  • BPL card or EWS certificate from a competent authority also accepted
  • Minimum 75% in Class 12 board examinations
  • Minimum 60% in graduation (if applicable)
  • Recommendation letter from school or college principal
C
Special Circumstances
Income Criterion Relaxed

For students facing extraordinary personal circumstances where strict income limits would be unfair. The income criterion is relaxed for this category.

  • Orphans — both parents deceased (death certificate + SDM orphan certificate)
  • Single-parent household — sole earning parent deceased or income below ₹5,00,000
  • Differently abled students — 40%+ disability certificate from a government hospital
  • First-generation learners — no immediate family member holds any professional qualification
D
Extraordinary Merit
Income Criterion Fully Waived

For students of exceptional academic ability where S.MONK wishes to invest regardless of financial background. Income criterion is completely waived.

  • National or state-level Mathematics or Statistics Olympiad winner (verified certificate)
  • ACET score in 90th percentile or above
  • Multiple IFoA or IAI papers cleared in first attempt
  • Other extraordinary academic achievement at S.MONK's assessment
Integrity Measures

This Scholarship Is
Built to Last, Not to Game.

Every rupee in this fund is meant for a student who genuinely needs it and genuinely deserves it. We have designed the process to make gaming it impossible.

🏛️
SDM / Tehsildar Only
Income certificates must be issued by an SDM or Tehsildar. No lower authority is accepted. No exceptions, no appeals.
🔗
Aadhaar-Linked Bank
All disbursements go directly to an Aadhaar-linked bank account. No cash payments. No third-party transfers.
🎥
Video Interview
A mandatory personal video interview with Ravi Vyas is required. Authenticity of need and commitment is assessed directly.
✍️
Diagnostic Test
A 30-minute diagnostic test administered by S.MONK assesses basic mathematical aptitude. A student who cannot demonstrate ability will not benefit.

Zero tolerance for false declarations: Providing false information in a scholarship application — including falsified income certificates, forged documents, or misrepresented circumstances — will result in permanent disqualification, immediate removal from S.MONK, and referral to law enforcement under applicable Indian law. We conduct independent audits of a random selection of approved applications.

How to Apply

Five Steps.
Forty-Five Days.

From the day you submit your application to the day you receive a decision — no more than 45 days.

1
Online Application
Complete the application form on this page. Upload all required documents.
2
Document Verification
S.MONK team reviews all submitted documents. Response within 7 working days.
3
Diagnostic Test
Scheduled within 14 days of document approval. 30-minute aptitude test.
4
Video Interview
Personal interview with Ravi Vyas. Assesses commitment, circumstances, and readiness.
5
Decision
Final decision communicated within 45 days of application submission.

Total timeline: From application submission to final decision — maximum 45 days. We respect your time and your circumstances.

Continuation Conditions

Scholarship Recipients
Must Honour These Commitments

The scholarship is not unconditional. It is a partnership. We invest in you — you invest in yourself.

📅
100% Attendance — Mandatory
Full attendance at all scheduled sessions is mandatory. Falling below 80% for two consecutive months triggers a scholarship review. There are no exceptions to the attendance requirement.
🎯
Exam Attempt Within 12 Months
You must attempt the relevant examination within 12 months of completing your course. The scholarship is designed to build practising actuaries — not indefinite students.
📊
Six-Monthly Progress Review
Progress is formally reviewed every six months by S.MONK faculty. Students not making genuine academic effort may have scholarship support suspended pending review.
Documents Required

Prepare These Before
You Apply

Aadhaar CardStudent and both parents / guardians. Aadhaar-linked bank account passbook front page.

Income CertificateIssued by SDM or Tehsildar only. OR BPL / EWS certificate from competent authority. Not applicable for Category D.

Academic MarksheetsClass 10 and Class 12 mark sheets. Graduation transcripts if applicable. ACET scorecard if applying under Category D.

Recommendation LetterFrom school or college principal or vice-principal. On official letterhead with stamp and signature.

Special Circumstances ProofCategory C only: death certificate, disability certificate, single-parent affidavit, or first-generation learner declaration as applicable.

Personal Statement (500 words)Written answer to: "Why I want to become an Actuary and what I will do when I succeed." Handwritten or typed.

Merit CertificatesCategory D only: Olympiad certificates, competition awards, or other extraordinary merit documentation.

Recent Passport PhotoClear, recent colour photograph. Will be used for scholarship records and the video interview invitation.

Apply Now

One Application.
A Changed Future.

This form is the first step. After submission, our team will contact you within 7 working days to guide you through the next steps. Fill in your genuine details — every field matters.

Response within 7 working days
Your information is completely confidential
Questions? Call +91 9561572749
Email: admin@smonk.in
Decision within 45 days of submission

Scholarship Application — Initial Enquiry

All fields marked with * are mandatory

100–200 words. Be specific. Vague answers are not progressed.

Submitting this form is the first step only. Documents and verification follow. This is not a guarantee of scholarship award.

Application Received

Thank you for applying. Our team will review your submission and contact you at the email and phone number provided within 7 working days to guide you through the next steps.

In the meantime, please gather all required documents listed on this page. Questions? WhatsApp us at +91 9561572749.

Frequently Asked Questions

Your Questions,
Answered Honestly.

No. The scholarship is for new enrolments only. It cannot be applied retroactively to fees already paid. If you are planning to enrol and believe you qualify, apply for the scholarship before paying your course fee.
The amount is entirely at S.MONK's discretion. It can range from 10% to 90% of coaching fees. No one can predict or guarantee the exact amount in advance. The scholarship committee assesses each application individually. Please do not apply with an expectation of a specific figure.
Yes. Scholarship support applies equally to live offline classes in Mumbai, live online sessions, and pre-recorded formats. The mode of study does not affect your eligibility or the amount of support you may receive.
Yes. Category D (Extraordinary Merit) waives the income criterion entirely. If you scored in the 90th percentile in ACET, or have cleared multiple IFoA/IAI papers in a first attempt, your income level is irrelevant. S.MONK wants to invest in exceptional talent regardless of financial background.
100% attendance is mandatory for scholarship recipients. If you fall below 80% for two consecutive months, S.MONK will initiate a review. Continued low attendance may result in suspension of scholarship support. Genuine medical or family emergencies will be considered on a case-by-case basis with appropriate documentation.
You may apply for scholarship support for up to two subjects at a time. Each subject application is assessed separately. Receiving scholarship support for one subject does not automatically guarantee support for a second subject.
You can submit the initial application form without the income certificate. However, document verification (Step 2) will only proceed once the SDM or Tehsildar income certificate is submitted. We strongly recommend starting the process of obtaining the certificate immediately as it can take 2–4 weeks from government offices.
Currently, the scholarship is primarily designed for Indian citizens, given the documentation requirements (Aadhaar, SDM certificates). International students with exceptional circumstances are encouraged to contact us directly at admin@smonk.in to discuss their situation before applying.