In the present economic times funding education has really become a challenge for students and parents. A number of students aren’t able to take up courses of their choice due to monetary problems. Hence, it has become vital for students to apply for scholarships that can assist them during the course of their studies. The problem of education funding has been taken up seriously by Indian Oil Corporation Limited which grants over 2600 scholarships to students on merit-cum-means basis, commonly known as IOCL Scholarship . The IOCL offers academic and sports scholarships on yearly basis. IOCL Academic Scholarship is for students of 10+/ITI, MBBS, Engineering and MBA courses. Under the Academic Scholarship scheme 2000 merit scholarships are awarded to 10+/ITI students. It also offers 600 scholarships for graduate and post-graduate studies under which includes 300 scholarships for engineering students; 200 for MBBS students and 100 for MBA students. The scholarship amount and time d