The short answer is yes — and more comprehensively than most students and families realise. Financial constraints should not stop anyone from studying at IIT Madras, and the institute has built a layered system of fee waivers, government scholarships, alumni-funded support, and research stipends to back that up. Here is a complete picture organised by program level.
B.Tech and Dual Degree Students
Income-based fee waivers — the most important thing to know first
Students whose annual parental income is below ₹1 lakh per year receive a full 100% tuition fee waiver at IIT Madras, along with an annual scholarship of ₹40,000. A Women's Merit Scholarship of ₹10,000 per year is also available within this category.
For students in the ₹1 lakh to ₹5 lakh annual income bracket — the EWS/GE/OBC category — the Merit-cum-Means (MCM) Scholarship, combined with the Government of India's two-thirds tuition fee waiver, covers the entire tuition fee for eligible B.Tech and Dual Degree students. This means a student from a family earning up to ₹5 lakh a year can study at IITM with zero tuition fees.
Students from SC/ST categories are exempted from paying tuition fees entirely, irrespective of their parental income.
This fee structure is one of the least understood aspects of IIT admissions. Many families assume IIT is unaffordable without realising that for a significant proportion of the student body, tuition is fully covered.
MCM Scholarship
The Merit-cum-Means Scholarship is awarded to up to 25% of the sanctioned intake in each program. Eligibility is based on both academic merit and financial need (family income below ₹4.5 lakh per year). IIT Madras alumni and CSR partners have ensured that 100% of B.Tech students in the ₹1 lakh to ₹5 lakh income category received financial aid for two consecutive years (2022-23 and 2023-24). This commitment reflects how seriously the institute takes this responsibility.
Merit-based Scholarships
Beyond need-based support, IITM offers several merit scholarships for high-performing undergraduates:
Institute Merit Scholarships — awarded to top students in each batch: top 2 students in Civil, Electrical, Mechanical, and Metallurgical Engineering, and top 12 students in other streams. Benefit: ₹65,000 per year, renewable annually.
KVPY-equivalent / Science merit scholarships: These scholarships are for students ranked in the top 1% of their class in Natural and Basic Sciences or in the top 10,000 ranks in JEE Advanced.
Alumni-funded scholarships: These are managed by the IIT Madras Alumni Association and are awarded based on a combination of need and academic performance. Renewable based on continued performance and need.
Corporate scholarships: Companies like Aditya Birla Group and Nissan award scholarships to students for academic performance and merit. Details are updated periodically through the institute's scholarships portal.
Government scholarships
Students are also eligible for a range of Central and State Government scholarships, applied for separately:
NCERT scholarships for meritorious students
Ministry of Minority Affairs Merit-cum-Means Scholarship
Post-Matric and Pre-Matric scholarships via the National Scholarship Portal (NSP)
State-specific scholarships for students from Tamil Nadu, Andhra Pradesh, Maharashtra, and other states — applied for through respective state portals
Pratibha Scholarship of the Government of Andhra Pradesh
Semester exchange scholarships
IITM offers students the option to study one semester abroad at a partner university. For students who apply for this exchange program, the institute works to secure scholarships to cover the entire semester cost, based on the student's academic performance, co-curricular activities, and overall profile.
MTech Students
GATE-qualified MTech students at IIT Madras receive a Half-Time Teaching Assistantship (HTTA) of ₹12,400 per month, tenable for up to 24 months. In exchange, students assist with departmental academic activities such as lab demonstrations, tutorials, and evaluations for approximately 8 hours per week. Students admitted through GATE or with a B.Tech from an IIT with a CGPA of 8.0 or above are eligible.
MS and PhD Students
Research scholars at IIT Madras are supported through the Half-Time Research Assistantship (HTRA) scheme:
PhD scholars receive ₹37,000 per month for the first two years and ₹42,000 per month for the subsequent three years. MS scholars receive ₹12,400 per month for the initial period.
Scholars assist with departmental research or academic activities for approximately 8 hours per week in exchange.
The institute also provides financial assistance of up to ₹1,50,000 (including registration fees) for research scholars presenting papers at international conferences.
Prime Minister's Research Fellowship (PMRF)
The PMRF is the most prestigious research fellowship available to PhD students at IITs. The fellowship amount is ₹70,000 per month for the first two years, ₹75,000 per month for the third year, and ₹80,000 per month for the fourth and fifth years. PMRF scholars also receive a contingency grant of ₹2 lakh per annum for academic travel, conferences, and research expenses. Eligible students apply after being admitted to a PhD program at IIT Madras through either Direct Entry or Lateral Entry modes.
CSIR-UGC NET-JRF Fellowship
PhD students with a valid CSIR-UGC NET-JRF qualification receive ₹31,000–₹35,000 per month along with Housing Rent Allowance and contingency grants, under the terms of that fellowship.
International Students
Many international students join IIT Madras through scholarship programs. International applicants primarily apply through the Indian Council for Cultural Relations (ICCR) and Study in India (SII) programs. Of those who receive an offer letter (approximately 10% of applicants), around 20% are awarded a scholarship and join.
The nine International Interdisciplinary Master's Programs (I2MP) at IITM, including those coordinated through WSAI, are also available to international students with associated fellowship support.
The Bottom Line
Whether you are an incoming B.Tech student from a lower-income household, a GATE-qualified MTech aspirant, or a research scholar planning a PhD, there is a structured financial support system at IIT Madras that can significantly reduce or eliminate your financial burden. The key is knowing what exists and applying early. For specific eligibility details and current scholarship amounts, always verify at the official scholarships page.
If you have more questions on scholarships and financial aid, visit our community — AskIITM community