This school is giving a scholarship for kids whose parents have suffered pay cuts due to COVID

The COVID-19 pandemic has plunged us deep into an economic slump. As we come out of the rut, financial assistance is the need of the hour. The VIBGYOR Group of Schools has come up with a special scholarship — EduBridge Scholarship — to help parents in these torrid times.  

The scholarship is aimed at helping parents who have suffered salary cuts or a considerable decrease in income. "Around early April it was evident that the pandemic will have serious repercussions on the economy. We thought about what we can do for the parents that would help them financially. What we need to remember here is that we cater to the affluent section of society. But this pandemic has affected them as well and any parent who had a change in income because of the pandemic can avail the scholarship — this is not a merit-cum-means scholarship but based only on means," said Peshwa Acharya, CMO, Vibgyor Group of Schools. "What we ideally should have called this is a fee waiver or subsidy. But we decided against it because we did not want them to feel like we are doing them a favour. All they have to do is submit papers online which show that they have had a drop in income. This subsidy can continue for as long as three quarters," he added. 

The parents will have to upload documents like their income tax returns in the portal and no one but a closed group has access to the documents. "We don't want any of our students' education to be hampered by any financial issues. This year is a very tough year for all of us. There are sectors where the schools can cut down like third-party transportation services but we still need to pay teachers and staff their salary. But the most important thing to remember is that we need to keep our head above water and ensure that education is being delivered properly," Acharya added.