Financial dependency worries
Greetings,
I have a few serious questions about reduction of financial dependency while in college and about MCN scholarships for AY 2026-27 and beyond.
The main questions are in bold letters.
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Is the final eligibility limit for MCN announced yet, or are the numbers still speculative?
When is it typically announced each year?
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This year, during the filling of the preference form, these are the listed family income categories among which one is to be selected:
- <1 LPA
- 1-5 LPA
- 5-8 LPA
- 8-10 LPA
- 10-11 LPA
- 11-12 LPA
- 12-13 LPA
- 13-14 LPA
- 14-15 LPA
- 15-16 LPA
- 16-17 LPA
- 17-18 LPA
- 18-19 LPA
- 19-20 LPA
- 20+ LPA
Plus, during the stage of uploading the ITR/other such documents, it is described that those who do not wish to apply for the MCN scholarship for the first semester will have to submit a self-declaration of the same in PDF format, in place of the financial documents, AND select their family income category as 20+ LPA.
But was the portal like this in previous years too, or was it different?
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I think it is highly unlikely that the BITS authorities would design the preference form portal like this only to contradict their own portal later and state that the eligibility limit is not 20 LPA, because if they did, I think they would face a lot of reputational backlash and possibly legal retribution too.
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Now, my family income (gross, without deduction) is between 19 and 20 LPA. My father is the only working parent.
But it's not as if I can comfortably accept financial dependence. My parents have been intermittently yet extremely abusive (publicly high-functioning, abusive behind closed doors) and controlling in my past (though the worst is behind me, and I am gaining more control now) and I want to estrange myself from them not long after completing college, and build material independence during college.
In fact, the relationship is already broken beyond repair, and the only reason I am still with them is legal dependency, which of course will take time to resolve because I don't yet have housing or income of my own.
I do not want to become subservient to my abusers. But would finances force me to?
They might use money for coercion, that's why I ask.
To me, 32 lakhs' worth of money in fees equates to 32 lakh strings attached, because provision always came with strings attached.
Therefore, I want to minimise dependence to the maximum extent possible, but I also do not want to burn myself out in the process of chasing the merit-only scholarships (which I understand require a consistent 9.5+ CGPA, maybe even more). I have understood that I learn better when I do not experience incessantly high pressure (external or self-imposed). I would rather stay on the right side of the line between discipline and overexertion.
So I feel like MCN would offer me some breathing room. Even if I do not secure it in all semesters, the reduction of dependency will be substantial.
Therefore, I am currently in a state of deep confusion about whether I can make the cut for MCN or not.
But in the event that I am not eligible for MCN, am I consigned to depend on my abusers, or is it required to grind till I ruin my health, or is there a balanced third way?
This question is making me doubt whether prioritising BITSAT prep over "the great government college rat race" (JEE) was a blunder or not, even though I have always performed better in BITSAT mocks than JEE mocks, and my score in BITSAT attempt 1 is substantially better than my JEE Main percentile or my predicted JEE Advanced score in terms of admission prospects.
I am keeping a drop year as the absolute worst-case option.
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Are merit-only scholarships (even 50%) really tough to secure, especially if not a CS student?
How can I take minimal money from my parents over the course of 4 years, beyond the obvious (reducing overspending)? I use zero subscription services because I do not feel the need for any. I am not a spendthrift.
Can I start building my income even before PS/placements? If yes, how? Is it difficult to manage acads (specifically EEE/ENI) along with these income streams?
Are education loans student-friendly, or is it better to treat them like a last resort? In case I do need a loan, can I borrow independently and repay independently later, without involving my parents at all?
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Please note: It's not about college admission alone, it's about the quality of my life.
But also, I am not depressive, suicidal or anything like that. Far from it, in fact. I wish to make correct decisions, that's all.
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In another post on this sub , I have described what I am interested in and want to work in. I had asked a few questions related to that. Please check that out if you wish to know what branch/field I aspire to get into.