The Scholarships, Awards and Financial Aid Fund
Management and Administration
The Friends of AIT Committee comprises a:
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.
Friends of AIT as donors to the Fund
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
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.
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