Does MICA India provide financial aid?

No, MICA as an institution does not offer financial aid. However, once you get selected in Mica you will get a detailed document describing the banks they have tie-ups with and also information about the interest rate, loan period, documents, etc. For e.g. you can get a collateral-free loan from the State Bank of India, Bhopal (Ahmedabad) against your offer letter from MICA. The institution will assist you in getting a loan.

Also, your placement will be sufficient to pay back your loan. Having said that, there is a certain ceiling cap on the loan amount. One of my friends who took admission at MICA in 2011, applied for an education loan at SBI. The fee was 12 lakhs and SBI capped the loan amount at 10 lakhs. The current fee for PGDM at MICA is 21 lakhs. I am unaware of the exact loan amount cap that SBI has now but it will be somewhere between 15-18 lakhs.

You can call the financial aid department at MICA for the details or you can directly call SBI to know the exact cap amount.

Rest assured, lack of funds shouldn’t be a concern of any kind at MICA.