ICMAI Revised Scholarship Schemes 2025: CMA Foundation & Intermediate Fee Waiver

Revised Scholarship Schemes for CMA Foundation and Intermediate Courses: The Institute of Cost Accountants of India (ICMAI) has revised its scholarship schemes for 2025, offering fee waivers for meritorious students enrolling in the CMA Foundation Course and economically challenged yet deserving students applying for the CMA Intermediate Course.

Candidates meeting the eligibility criteria—80% in Class 12 for Foundation and 80% in Class 12 + 65% in Foundation or 75% in Graduation for Intermediate—can apply offline by submitting the prescribed form, required documents, and a Rs. 500 non-refundable admission/registration fee. The application deadlines for the June term are August 16 – October 31, while for the December term, they are February 16 – April 30.

A total of 500 scholarships are available per term for Foundation and 300 for Intermediate, with region-wise allocations. AUBSP urges eligible students to apply on time and benefit from this opportunity. Visit ICMAI’s official website for more details.

ICMAI Revised Scholarship Schemes 2025

The Institute of Cost Accountants of India (ICMAI), a statutory body under an Act of Parliament, has officially revised its scholarship schemes for students enrolling in the CMA Foundation and CMA Intermediate courses. The revision was approved during the 357th meeting of the Council, held on January 4, 2025. These schemes aim to support meritorious students and economically challenged yet deserving candidates. AUBSP presents a detailed overview of these revised schemes for aspiring CMAs.

Scholarship Schemes Overview

ICMAI has introduced two fee waiver schemes:

1. Meritorious Students Scheme for CMA Foundation Course
2. Economically Challenged-cum-Meritorious Students Scheme for CMA Intermediate Course

Both schemes allow eligible students to apply through offline mode by submitting the required documents.

1. CMA Foundation Course – Fees Waiver for Meritorious Students

This scholarship is available for students enrolling in the CMA Foundation Course who have demonstrated exceptional academic performance in their Class 12 examinations.

Eligibility Criteria

• A minimum aggregate of 80% in Class 12.
• The applicant must submit a prescribed form with necessary supporting documents.

Fee Structure

• Admission Fee: Rs. 500 (one-time, non-refundable).

Application Submission Deadlines

Application Process

1. Submit the prescribed form along with self-attested copies of required documents.
2. Send the original Demand Draft (Rs. 500) favoring “The Institute of Cost Accountants of India”, payable at Kolkata.
3. Submit all documents to:
   Directorate of Studies, CMA Bhawan, 12, Sudder Street, Kolkata – 700016.
4. Selection is made on a first-come, first-served basis.
5. Selected candidates will be notified via email or post.

Maximum Scholarships Allotted Per Term

Candidates who are not selected will receive their demand drafts and documents back. They may then proceed with regular admission by paying the full course fee.

2. CMA Intermediate Course – Fees Waiver for Economically Challenged-cum-Meritorious Students

This scheme supports students enrolling in the CMA Intermediate Course who are economically disadvantaged but have demonstrated academic excellence.

Eligibility Criteria

• Academic Requirements:
  • Option 1: Class 12 – 80% aggregate & CMA Foundation – 65% aggregate.
  • Option 2: Class 12 – 80% aggregate & Graduation/Post-Graduation – 75% aggregate.
• Income Criteria:
  • If the student is self-supporting, their annual income must be ≤ Rs.1,00,000.
  • If dependent on a guardian, the combined annual family income must be ≤ Rs.2,00,000.

Fee Structure

• Registration Fee: Rs. 500 (one-time, non-refundable).

Application Submission Deadlines

Application Process

1. Submit the prescribed form along with self-attested copies of academic and income-related documents.
2. Attach the original Income Proof Certificate and a Demand Draft of Rs. 500 favoring “The Institute of Cost Accountants of India”, payable at Kolkata.
3. Send documents to:
   Directorate of Studies, CMA Bhawan, 12, Sudder Street, Kolkata – 700016.
4. Selected candidates will be informed via email or post.

Maximum Scholarships Allotted Per Term

Candidates who are not selected will receive their demand drafts and documents back. They must then register by paying the full course fee.

FAQs on ICMAI Revised Scholarship Schemes

1. What are the ICMAI Scholarship Schemes for 2024?
ICMAI has introduced two revised scholarship schemes:

• CMA Foundation (Meritorious Students Scheme) – For students scoring 80% or above in Class 12.
• CMA Intermediate (Economically Challenged-cum-Meritorious Students Scheme) – For students scoring 80% in Class 12 + 65% in CMA Foundation OR 75% in Graduation/PG, with an income limit of Rs. 1,00,000 (self) or Rs. 2,00,000 (family).

2. Who is eligible for the CMA Foundation Scholarship?
Students who have passed Class 12 with at least 80% marks can apply for a full course fee waiver for the CMA Foundation Course.

3. Who can apply for the CMA Intermediate Scholarship?
Students fulfilling both academic and income eligibility criteria can apply:

• Academic Requirement:
  • Option 1: 80% in Class 12 + 65% in CMA Foundation.
  • Option 2: 80% in Class 12 + 75% in Graduation/PG.
• Income Requirement:
  • Self-income must be ≤ Rs. 1,00,000 per year, OR
  • Family income must be ≤ Rs. 2,00,000 per year (if dependent).

4. What is covered under these scholarships?
Selected students will receive a complete waiver of course fees, but they must pay a non-refundable admission/registration fee of Rs. 500.

5. How can I apply for these scholarships?
The application process is offline:

1. Download and fill out the prescribed form from ICMAI’s official website.
2. Attach self-attested copies of academic and income proof (for Intermediate).
3. Attach a Rs. 500 Demand Draft payable to “The Institute of Cost Accountants of India”, Kolkata.
4. Send the application to:
   Directorate of Studies, CMA Bhawan, 12, Sudder Street, Kolkata – 700016.

6. What are the application deadlines?

7. How will I know if my application is selected?
Selected students will be informed via email or post. If not selected, their demand drafts and documents will be returned.

8. Can I apply for both scholarships?
No, a student can only apply for one scholarship at a time, depending on their current enrollment status (Foundation or Intermediate).

9. How many scholarships are available?

10. What happens if I am not selected?
If not selected, you can still enroll by paying the regular course fee. Your demand draft and documents will be returned.

11. Can I apply online for the scholarship?
No, applications must be submitted offline by post to ICMAI’s Directorate of Studies.

12. Can a student from any state in India apply?
Yes, students from all states in India can apply, provided they meet the eligibility criteria.

13. Is there any age limit to apply for these scholarships?
No, there is no specific age limit, but applicants must meet the academic and income criteria.

14. Will I need to renew my scholarship after selection?
No, the scholarship is a one-time fee waiver for the applicable course.

These scholarship schemes introduced by ICMAI provide an excellent opportunity for meritorious and financially challenged students to pursue the CMA Course without the burden of course fees. AUBSP encourages all eligible students to apply within the given deadlines to avail of these benefits.

For further details, visit ICMAI’s official website or contact studies@icmai.in.