The Scholarship grant shall be offered to brilliant students on a yearly basis to fulfill their educational needs. Scholarship support of INR 75000 per year is granted to selected scholars in equal annual installments till the time they graduate successfully from college. The winners get a Scholarship amount for their next graduating year only if they provide proof of having passed the previous year. The Scholarship amount shall be paid directly to the respective College.
For STEP Schaeffler Scholarship selection process, all the applications received are vetted as per the eligibility criteria. Those candidates whose applications are selected go through an interview session along with their parents in which it is determined whether they are eligible for the Scholarship or not.