Every year 200 scholarships will be distributed among the students who are members of RESONANT CASHFLOW NETWORK throughout the country. This will be based on the student academic performance and effort in the network.

Conditions for Scholarship

1. i) Financial assistance will be given to pursue degree and/or post graduate level technical and professional courses from a recognized institution.   Maintenance allowance will be credited to the student’s account.  The course fee will be paid by the company directly to the institute concerned.  
2. ii) Students who get admission to a college/university to pursue technical/professional courses, on the basis of a competitive examination will be eligible for the scholarship.

       ii) Students who get admission in   technical/professional courses without facing any competitive examination will also be eligible for scholarship.        However, such students should have not less than 50% marks at higher secondary/graduation level. Selection of these students will be done strictly on merit basis.

1. iv) Continuation of the scholarship in subsequent years will depend on successful completion of the course during the preceding year. 
2. v) A scholarship holder under this scheme will not avail any other scholarship/stipend for pursuing the course.
               
   vi) The beneficiary/parent or guardian of beneficiary shall be fully aware of the process before the fund is disbursed.

vii) The company/network will advertise the scheme every year and receive the application through the concerned institutions.

viii) After scrutinizing the applications, the company/network will prepare a consolidated budget for all eligible students and send an application in the prescribed pro-forma for release of fund from the company for distribution of scholarship giving the details of each students viz. name, permanent address, telephone number, annual course fee, name & address of institute, whether hostler or day-scholar, etc.

1. ix) The application for release of fund from the company must be received through the scholarship scheme department every year.
2. x) The company will maintain separate bank account and records relating to the funds disbursed by the scholarship department and they will be subjected to inspection company internal and external auditors or any other agency designated by the Company.
3. xi) The fund for distribution of scholarship in subsequent year will be released after receiving the utilization records for the previous year.  Annual inspection by the auditors of the or any other agencies designated by the Ministry will also be carried out.

xii) A student residing in a particular country will be entitled for scholarship under the quota of that country only irrespective of his place of study.

1. xv) The number of scholarship has been fixed on the basis of high performance gets the majority. Within the country allocations, the applications from reputed institutions will be exhausted first.  The list of such institutions will be made available by the scholarship department.

xvi) The scheme will be evaluated at regular intervals and the cost of the evaluation will be borne by the scholarship department under the provision of the company. An additional provision of 3% of the total budget will be made to meet the administrative and allied costs viz. expenditure on monitoring of the scheme, impact study, evaluation study, purchase of office equipments, engaging of contract employees, if necessary and other expenditure to run the unit etc.

Rate of Scholarship

The rate of scholarship will be as under:

* Full course fee will be reimbursed for eligible institutions listed.

Payment

1. i) Maintenance allowance is payable from the month of admission, whichever is later, to the month in which the examinations are completed, (including maintenance allowance during holidays) yearly, provided that if the scholar secures admission, the amount will be paid from the month following the month of admission.
2. ii) In case of renewal of scholarships awarded in the previous years, maintenance allowance will be paid from the month following the month up to which scholarship was paid in the previous year, if the course of study is continuous.

iii) Scholarship will not be paid for the period of internship/housemanship in the M.B.B.S. course or for a practical training in other course if the student is in receipt of some remuneration during the internship period or some allowance/stipend during the practical training in other course.

Other Conditions for the Award

i)The scholarship is dependent on the satisfactory progress and conduct of the scholar.  If it is reported by the Head of the Institution at any time that a scholar has by reasons of his/her own act of default failed to make satisfactory progress or has been guilty of misconduct such as resorting to or participating in strikes, irregularity in attendance without the permission of the authorities concerned etc., the authority sanctioning the scholarship may either cancel the scholarship or stop or withhold further payment for such period as it may think fit.

1. ii) If a student is found to have obtained a scholarship by false statement, his/her scholarship will be cancelled forthwith and the amount of the scholarship paid will be recovered, at the discretion of the concerned State Government.  The student concerned will be blacklisted and debarred for scholarship in any scheme forever.

iii) A scholarship awarded may be cancelled if the scholar changes the subject of the course of study for which the scholarship was originally awarded or changes the Institution of study, without prior approval of the scholarship department.  The Head of the Institution shall report such cases to them and stop payment of the scholarship money.  The amount already paid may also be recovered at the discretion of the company.

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   iv) A scholar is liable to refund the scholarship amount at the discretion of the company, if during the course of the year, the studies for which the scholarship has been awarded, is discontinued by him/her.
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   v) The regulations can be changed at anytime at the discretion of the scholarship department and the company.

Procedure for Applying

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   i) An application for scholarship should comprise:

(a) One copy of the application for scholarship in the prescribed form (separate application forms prescribed for fresh and renewal of scholarship by the concerned scholar).

(b)  One copy of the passport size photograph with signatures of the student thereon (for fresh scholarship).

(c)  One attested copy of certificates, diploma, degree etc. in respect of all examinations passed.

(d) An income declaration from the scholar in the network showing that he/she is an active member of the network, stating income history from the network.  Employed scholars are required to obtain letter of introduction and permission from their employer in the employer’s letter heading paper and for any additional information from other sources.

(e)  Proof of permanent residence.

1. i) A receipt in acknowledgement of the scholarship in the previous year on the form attached to the application duly counter-signed by the Head of the Institution concerned, if the application was in receipt of a scholarship under this scheme in the preceding year.
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   ii) The scholarship department should satisfy itself that the student belongs to network and he/she is performing very well.

iii) Application completed in all respects shall be submitted to the Head of the Institution, being attended or last attended by the candidates and shall be addressed to our scholarship department/comapny to which the student belongs, in accordance with the instructions issued by them from time to time.

Funding Pattern of the Scheme

Resonant Scholarship Scheme will be implemented by the Scholarship Department and the Company, which receive 100% central assistance from the Network for the total expenditure under the scheme.

Eligibility criteria

1. Students, who have sign up into the network and also sign up 4 downlines with their username, and have gotten admission in a recognized college/university to pursue technical/professional courses, on the basis of a competitive examination.
2. Students, who have got admission in a recognized college/university to pursue technical/professional courses, without facing any competitive examination, will also be eligible for scholarship.  However, such students should have not less than 50% marks at higher secondary/graduation level. Selection of these students will be done strictly of merit.
3. A scholarship holder under this scheme will not avail any other scholarship/stipend for pursuing the course.
4. A student residing in a country where the network is fully operational will be entitled for scholarship under    the quota of that leadership irrespective of his place of study. The student must be an active member of the network.

How to apply

Applications in the prescribed format may be submitted to the scholarship department of the company and network, through the institutions where the students are pursuing technical/professional courses.  The student must first submit their applications to the Leader of the network in the area, where he/she belongs to and not to the institution where he/she is studying.