The Scholarships, Awards and Financial Aid Fund

Purpose
The Scholarships, Awards, and Financial Aid Fund, known as the Fund, was created by the Friends of AIT and functions under the jurisdiction of AIT’s Board of Directors with the sole purpose of accomplishing AIT’s mission: “no student will be deprived of an educational opportunity at AIT for economic reasons”. The immediate goal of the Fund is the provision of scholarships and awards to talented students and financial aid to qualifying students suffering economic hardships.

Management and Administration
The Fund maintains a specific bank account, always according to the legal framework and constitution of the non-profit organization Athens Information Technology. The administration of this account, which falls under the jurisdiction of AIT’s Board of Directors, is carried out by a three-member Administrative Committee, with a two-year term, which is regulated and controlled by the Friends of AIT Committee.

The Friends of AIT Committee comprises a:
1.   President
2.   Member
3.   Member
4.   Dean (not voted)
5.   General Manager (not voted)
6.   Director of Programs (not voted)

The Administrative Committee is responsible for the management of the Fund. Each October and February, following student admission registration, it informs the Friends of AIT Committee of scholarships, awards, and financial aid allocations.

The Fund’s Administrative Committee drafts a report which is submitted, by February the latest, to the Friends of AIT Committee, which in turn is submitted to AIT’s Board of Directors.

The earnings of the Fund are considered committed and cannot cover other needs of AIT, beyond what is stated above. However, the Friends of AIT Committee may deem it necessary and unanimously decide to transfer funds to other activities of AIT once it has been requested from AIT’s executive management. In either case, the transfer of earnings from the Fund for another purpose may not exceed 15% of the total amount available in the Fund.

Donations
The Fund accepts any kind of donation from Friends of AIT, or third persons φυσικών ή νομικών, to further its goals. Donations to the Fund are tax-deductible under AIT’s non-profit constitution and according to the Ministry of Finance POL. 1030/12.02.2008.

Friends of AIT as donors to the Fund
Following written approval by the donor, the Friends of AIT Committee, in recognition of donors’ contribution to the Fund, announces the donors’ names on AIT’s website and once a year, in the daily press.

When a contribution made to the Fund by a non-Friends of AIT member is equal to or exceeds the amount of the members of Friends of AIT, then that donor may become a member of the Friends of AIT, following an invitation by the Fund’s Administrative Committee to the Friends of AIT Committee.

Scholarships, Awards, and Financial Aid
Scholarships and awards are given to students of AIT according to their academic progress and, according to the internal regulations of AIT, upon agreement by the Fund’s Administrative Committee and the Dean.

Financial aid is provided according to AIT’s internal regulations, to students whose financial status is unable to meet the cost of their studies (such as tuition, reading materials, accommodation), and upon agreement by the Fund’s Administrative Committee in collaboration with the AIT’s Managing Director and Director of Studies.

Donate to AIT now