The Indian School of Business (ISB) announced on Thursday that it would provide a 50 per cent tuition fee reduction to armed forces veterans or active-duty personnel looking to transition to civilian life. This initiative, known as the Armed Forces Scholarship scheme, is a collaborative effort with the Department of Ex-servicemen Welfare under the Ministry of Defence.
This 50 per cent fee waiver will apply to ISB's postgraduate and advanced management courses, benefiting up to 22 veterans annually. According to a statement from ISB, armed forces veterans will receive tuition fee waivers amounting to Rs 2.3 crore per year.
ISB emphasised its commitment to the armed forces by partnering with the Department of Ex-Servicemen Welfare. The goal is to enhance the management skills of armed forces personnel and veterans, complementing their existing extensive skill set.
"ISB's collaboration with the Department of Ex-Servicemen Welfare, Government of India, is in line with ISB's continued commitment to the armed forces, particularly in adding the latest and in-depth management skills to the vast skillset that armed forces personnel and veterans already possess," the institute said in a statement.
Over 100 veterans are part of ISB's alumni, contributing significant value to the classroom environment and strengthening the overall alumni network. The Armed Forces Scholarship is designed to contribute to ISB's vision of nurturing future leaders not only for India but also for the global stage.