The following scholarships and welfare schemes (at Post Graduate level) are offered to the students by the University of Mumbai.
1. Financial Assistance to the Students representing Backward Classes
A provision of Rs. 10,00,000.00 (Rupees Ten Lakhs) has been year-marked to render Financial Assistance to the students belonging to the Backward Class (S.C., S.T., N.T., D.T., and S.B.C.) studying at various Departments of the University. Application forms are available with the Head of the Department at the time of admission. Students, whose parents annual income is less than Rs. One lakh are eligible to get benefit of this scheme. The four categories of the students covered the scheme are  students enrolled in self supporting courses staying in Hostel - Rs.9,000.00 maximum and not-staying in Hostel Rs.7,000/-max. (2) Students in Regular courses staying in Hostel - Rs.4,000.00 max. & not staying in Hostel Rs. 2,000.00 maximum.
From the year 2005-06 it is decided to give a research fellowship of Rs. 2000.00 per month to the Backward Class Students registered at the University Departments for the Ph.D. Degree (full time). An amount of Rs. 2,40,000.00 has been year-marked, out of the provision of Rs, 10,00,000.00 for 10 fellowships.
The application should be forwarded through the Head of the Department to the Director of Students Welfare. The last date to submit the Application Form is September 15 of every year.
2. Financial Assistance to the Needy Students
A provision of Rs. 1,00,00,000.00 (Rupees One Crore) as corpus fund has been made from the year 2004-05 to render Financial Assistance to needy students belonging to the economically backward class studying at various affiliated Colleges/ Institutions/ Departments of the University. Application Forms are available at the office of Principal/Dean/ Head of the Department. Only two applications on merit of the needy students from each College/Institution/Department are invited for this Scheme. Students whose parents annual income is less than Rs. 75,000.00 are eligible to get the benefit of the Scheme.
The application should be forwarded through the Principal/Director & Head of the Department to the Director of the Students Welfare, University of Mumbai.
3. Book Bank Scheme
Every year the University renders financial assistance to the affiliated Colleges to run the Book Bank scheme for the Backward Class students. The Director, Students Welfare sends a circular to all the Colleges demanding the application from the Principal to run this scheme. Depending upon the number of backward class students in the college and the budgetary provision made for the scheme after calculation a specific amount per student is given to the college.
From the year 2004-05, it has been decided that this scheme introduced to the University Departments for the benefit of the Post-Graduate Backward Class Students.
4. Group Insurance Scheme
From the year 2001-2002 University has introduced a Group Insurance Scheme known as YUVA RAKSHA for students from the affiliated colleges/Institutions and University Departments in collaboration with National Insurance Company Limited. YUVA RAKSHA covers Colleges and University students under a Group Personal accident policy coverage including accidental death, permanent disability or hospitalization expenses arising out of accident are covered under the policy. Participation in adventurous sports and hazardous activities has to be with prior consent of the college/department & Institute/ authorities. 24 hours coverage is given within and outside India for a period of one year.
The Director, Department of Students Welfare sends a circular in the beginning of the year to all the affiliated colleges of the University requesting them to implement the scheme at college and department level. Principals of the colleges will implement the scheme at their level and he/she will sign the Memorandum of Understanding with the National Insurance Company Limited. At the Departments, the Head of the Department will sign and implement the scheme while the Institute Directors will be implementing the scheme and also be its signing authority. Premium rates are Rs. 20.00 per annum to cover the scheme of Rs. 50,000.00 while it will be Rs. 37.00 to cover the Insurance amount of Rs. 1,00,000.00. Principals/ Head of the Institutions and Departments are supposed to collect the premium at the time of admission and send it directly along with the list of students to Shri. Girish Narwekar, Division No. X, Resham Bhavan, 6th floor, 78, Veer Nariman Road, Mumbai 400020, Maharashtra State. Tel. No. 22043055/ 22048058/ 22047193; Fax No.: 22845081.
5. Government Scholarships
Following Government Scholarships are also made available to the student studying at University Affiliated colleges/Institutions and Departments:
A detailed list of above-mentioned Scholarships which are offered every year can be obtained from the Scholarships Section, 1st floor, Mahatma Jyotiba Phule Bhavan, Vidyanagari Campus, Santacruz (E), Mumbai 400098.