Day: October 13, 2021

Commonwealth Master’s Scholarships India 2022-23

Common wealth Master's Scholarships 2022-23

Commonwealth Master's Scholarships 2022-23​

Funded by the UK Foreign, Commonwealth & Development Office (FCDO), the Commonwealth Master’s Scholarships enable talented and motivated individuals to gain the knowledge and skills required for sustainable development. These scholarships are aimed at those who could not otherwise afford to study in the UK.

Commonwealth Master’s Scholarships are for candidates from eligible lower and middle-income Commonwealth countries, to undertake full-time taught Master’s study at a UK university.

These scholarships are offered under six CSC Development themes:

  • Science and technology for development
  • Strengthening health systems and capacity
  • Promoting global prosperity
  • Strengthening global peace, security and governance
  • Strengthening resilience and response to crises
  • Access, inclusion and opportunity

What does the Commonwealth Master's Scholarship cover?

Each scholarship provides:

  • Approved airfare from your home country (India in this case) to the UK and return at the end of your award (the CSC will not reimburse the cost of fares for dependants, nor the cost of journeys made before your award is confirmed).
  • Approved tuition fees.
  • Stipend (living allowance) at the rate of £1,133 per month, or £1,390 per month for those at universities in the London metropolitan area (rates quoted at 2021-2022 levels).
  • Warm clothing allowance, where applicable.
  • Thesis grant towards the cost of preparing a thesis or dissertation, where applicable.
  • Study travel grant towards the cost of study-related travel within the UK or overseas.
  • If you are widowed, divorced, or a single parent, child allowance of £485 per month for the first child, and £120 per month for the second and third child under the age of 16, if you are accompanied by your children and they are living with you at the same address in the UK (rates quoted at 2021-2022 levels).
  • If you declare a disability, a full assessment of your needs and eligibility for additional financial support will be offered by the CSC. 

How To Apply

The entire application process is online. 

You MUST submit your applications on the Commonwealth Scholarship Commission’s Online Application System (active from 20 September 2021 to 01 November 2021 (21:30 IST)) as well as on the Ministry of Education’s SAKSHAT Portal (active from 01 October 2021 to 07 December 2021).

Eligibility Criteria

  • The applicant must be a resident and a permanent citizen of India.
  • Be available to start your academic studies in the UK by the start of the UK academic year in September 2022.
  • By September 2022, hold a first degree of at least upper second class (2:1) honours standard (in the Indian context, this means a minimum of 60% marks in graduation), or a second class degree (2:2) (in the Indian context, this means 50-59% marks in graduation) and a relevant postgraduate qualification (usually a Master’s degree).
  • If you are applying for a second UK Master’s degree, you will need to provide justification as to why you wish to undertake this study.
  • Be unable to afford to study in the UK without this scholarship. (Candidates are compulsorily required to sign a declaration that they do not have access to sufficient funds to study in the UK).
  • Candidates must have an offer from admission from a UK University partnered with the CSC for the September/October 2022 intake at the time of applying on the SAKSHAT Portal.
  • Have provided all supporting documentation in the required format.

Supporting Documentation

  • Proof that you are a citizen of India: a copy of your valid passport (or national ID card) showing your photograph, date of birth, and country of citizenship uploaded to the online application system.
  • Full transcripts detailing all your higher education qualifications including to-date transcripts for any qualifications you are currently studying (with certified translations if not in English) – uploaded to the online application system.
  • References from at least two individuals – submitted directly by the referees to the online application system (referees will be sent an email request to submit online).

Nomination Criteria

  • 39 Nominations will be made to the CSC for the 2022 Commonwealth Master’s Scholarship.
  • Candidates who have received an offer of admission from any UK University partnered with the CSC must upload a copy of the same on the SAKSHAT portal.
  • In case there are more applications than the number of nominations to be made, ranking of the UK University from where the candidate has secured an offer of admission as per the ‘QS Ranking 2022’ would be taken to draw up the merit list.
  • Nominations would be made on a development theme-wise proportional basis i.e. the more the number of applications received under a particular theme; the more will be the share of that theme under the overall ceiling of 39 nominations.

The Application Form

In the application form, prospective candidates will be asked to:

  • List all undergraduate and postgraduate university qualifications obtained (if applicable).
  • List up to 10 publications and prizes (if applicable).
  • Provide details of your employment history and explain how each job is relevant to the programme you wish to undertake in the UK (up to 100 words per employment).
  • Provide a statement on the relevance of your previous work experience to the proposed Scholarship (up to 300 words).
  • List names and positions of three referees who are qualified to comment on both your capacity to benefit from your proposed Scholarship in the UK and your ability to deliver development impact afterwards. One of your referees must be your current employer.
  • Provide a Development Impact statement in 4 parts.
Refer to this sample document for an example of the questions asked within the online application system.

Application Deadline

  • Applications must be submitted by 16:00 (GMT) on 1 November 2021
  • References must be submitted by 16:00 (GMT) on 22 November 2021
  • The nomination deadline is 22 December 2021.

Important Points to keep in Mind

  • Awards are tenable at any approved UK university or higher education institution with which the CSC has a part funding agreement for a specific programme of study.
  • Awards are made in respect of full-time study only and no other course of study may be undertaken at the same time.
  • The CSC funds one-year taught Master’s programs only and does not fund MBAs.
  • You must make clear in your application which qualification you are applying for.
  • You are advised to list three universities and courses that you think are the most appropriate for your study, in order of preference, and to explain your reasons.
  • The CSC will make the final decision on the institution of study and reserves the right to overrule any preferences indicated by the candidate.
  • You must take the necessary steps to apply for admission to your preferred universities in advance of your scholarship application.

Additional Resources

Find the exhaustive list of conditions here.

Find the FAQs page here.

Official Website of the Commonwealth Master’s Scholarships can be found here.

The official announcement by the Gov of India here.

GradRight's FundRight - World's First Education Loan Bidding Platform

GradRight: A Higher Education Global Fintech PlatForm From India For The World

GradRight: A Global Fintech PlatForm From India For The World

In an exclusive interview with Outlook Money, Aman Singh & Sasidhar Sista, Co-founders, GradRight demystify financing for higher education abroad.

Aman Singh and Sasidhar Sista, Co Founders, GradRight

Tell us about the education loan landscape in India.

  • Since 2001 when India started education loans the loan book has increased 60 times to INR 60,000 crores in 2020 at a CAGR of 22%. 
  • While some public sector banks have struggled with high NPAs because of government mandates, the private sector has thrived. 
  • A leading private lender started in 2008, has grown at 66% CAGR to build a loan book of more than INR 60,00 crores. 
  • With the expected increase of Gross Enrollment Ratio from 25% to 50% over the next decade, coupled with the increasing cost of higher education our outstanding loans may rise to INR 3 lac crores. 
  • There are significant opportunities in this sector if you notice the number of new NBFCs entering the space and the increased VC participation in the last five years.

What is the ideal approach to taking an education loan?

  • Start with a real education budget that should account for the total money students can spend from savings, plus education loans. 
  • If the budget estimate is too high, a student will end up with a university that she cannot fund, too low and it may lead to the student missing out on choosing a better university for her career. 
  • Then estimate the total cost of the program including tuition fees, living costs in the city the college is located along with expenses such as the cost of books, electronics, initial room set up, local trips, health insurance, airline expenses, visa application, health check-ups, university applications, and counsellor fees. 
  • In the U.S. the living cost in New York is nearly 1.5 times the living cost in Philadelphia.
    Parents occasionally underestimate the cost by INR 10-15 lacs. 
  • Remember to analyze college choices based on true return on the program from a financial lens and avoid being driven by biases, peer pressure, and hearsay. 
  • Be careful in evaluating placement statistics that may not be a true indicator of their earning opportunities. 
  • Students can schedule a free call with a GradRight financial advisor to get the right estimate.

How can a student get the best education loan?

  • Without GradRight, loan application and approval can take 7 days to 2- 3 months, depending on the lender, processing of collateral, and the time required for the follow-up. 
  • Start the loan process in advance, preferably immediately after getting test scores. 
  • Various types of loans are available with differing interest rates and payback times based on academic profiles and parents’ financial profiles. 
  • GradRight’s FundRight is the World’s first student loan bidding platform where 12 public and private, domestic and international banks and NBFCs compete transparently to offer the best education loan based on their credit policies, student profile, and college choices. 
  • Students complete their entire loan process online and get the best loan for their profile.

What are the insights that one can use to get the best deals?

  • Taking care of some nuanced factors can contribute immensely to getting an awesome loan.
  • Students with test scores (GRE, GMAT, SAT, TOEFL, IELTS) are three times more fundable. Each bank recognizes a set of global universities for their placements. 
  • Sometimes, even with an average score, students can get a great admit and thereby, a good loan. 
  • Banks prefer the US, and Canada the most.
    UK, Singapore, Australia, Germany, and Ireland are also considered positively. 
  • The maximum unsecured loan amounts one can get will vary based on the country you choose to study in. 
  • Parents’ credit or financial discipline will have an impact on what you can get as an education loan, as most of the lenders will ask for them to be co-applicants. 
  • Having too many active EMIs will also deter banks. 
  • Our SelectRight platform can help students choose the most bank-fundable universities for their unique profiles. 

What is your mission at GradRight?

  • Our vision is to build the leading education fintech company dedicated to making education accessible and affordable. 
  • Our mission is to enable students to maximize their Return on Education(RoEd) by ensuring that they can study at the Right College at the Right Cost.

How are you adding value to the banks?

GradRight's FundRight - World's First Education Loan Bidding Platform
  • We are very glad that GradRight has picked up really fast. In 2020, GradRight was one of the first partners we signed up with for one of our new initiatives. Fast-forward to today, GradRight is among our top partners. I’m very happy with how our relationship has developed with our combined vision of helping out students & being an instrument of change in their lives.” – Mayank Sharma, Country Head, Prodigy Finance.
  • GradRight is already the preferred sales and service partner for all its lending partners. 
  • Since the launch of FundRight, only 10 months ago, we have received INR 2500 crores in loan requests and helped secure close to INR 400 crores in loan approvals. 
  • Banks attribute GradRight in helping them find exceptionally fundable students in one place and cut up to 75% of the cost of sales and pre-disbursement services. 
  • With a first principle approach, GradRight created an education loan journey for banks and students that drove up the approval rates for banks and created unseen access to high potential students across hundreds of Indian cities and towns at once.

How are you adding value to the students?

  • Anyone considering graduate student loans should seriously check out GradRight. Seeing a bevvy of options from different banks laid out so comprehensively and conveniently was a huge source of relief and led me to options I would not have found otherwise!” -Raghav Adlakha, Alum, Harvard Kennedy School.
  • With GradRight’s FundRight, students have saved INR 30 crores in interest expense to date. 
  • We are making higher education financing more accessible. 80% of our students come from 2000 plus, Tier 2 and 3 cities of India with limited access to education loan options. 
  • We have increased the chances of securing a loan by 500% by bringing all the top education loan providers on one platform. 
  • With GradRight students are choosers and not beggars for financing their higher education.
    All this is possible because of the commitment of our Student Success team led by our colleagues Shivani Mani, Hasil Gora, Prachi Singh, Aayush Nagpal, and Lovish Rawal. 
  • “There’s information asymmetry in the student loan market in India. The loan journey hence becomes overwhelming. At GradRight, the Student Success team is driving rational program choices, financial awareness, and well-negotiated loan decisions/terms for our students. We want to make them feel comfortable with the loan choices they make alongside GradRight.” – Shivani Mani, Student Success

What are your future plans?

  • To power students’ financial transactions, we will soon launch, World’s first student-centric score, GradRight Credit Rating API. This will unlock the next level of efficiency and value for all stakeholders in the ecosystem. 
  • We will scale up FundRight in India and expand our services in Asia and the Middle East. 
  • SelectRight will be a game-changer in the sector and will enable students to make better decisions on selecting high return programs.
GradRight team

India's First Loan Bidding Platform

Get online lenders to bid on your profile to get the best student loans.