All trustees are well educated. They must have at least a college degree.
Each year the trustees are elected for a term of three years to replace retiring trustees. Founder trustees will hold the chairman’s post in succession, for life. Each new trustee will be nominated by present outgoing or past trustees. All other active trustees will vote. A simple majority will decide. In all there will be seven or nine trustees.
Donors making large donations of Rs.50 Lakhs or more, can nominate a choice trustee. where they wish to give the scholarships. A sub trustee group will be created and that group will decide the distribution of recurring grants from the donor’s fund.
All distributions will be done by the treasurer appointed by the Trustees. Checks will be made payable to the College / Institute of Student’s admission. Such checks will be mailed to student’s home address. Students would be responsible to bring them to the college/institute. Current bank facilities can be utilized, if available. Sometimes, banks send their checks on behalf of BEST, when the Treasurer give the list of payee’s with proper attestation.
The trust started in 1996 with an intension to help Brahmin students who cannot aspire to compete with equal opportunity to get into Medical Schools or Engineering Colleges, under the quota system installed by Ambedkar in the 1950s. Over the years the Trust has on deposit close to two and a half crores. We gave ‘Grants’ based on the applicant’s family income and merit. Annually close to 400 students are receiving grants. We receive approximately Rs 14,00,000 in interest on fixed deposits and disbursed as “Non-Refundable Grants”
We are changing direction, from ‘Grants’ to refundable ‘Scholarships’!
We will give students “interest-free (0%) loans”, rather than non-refundable grants. We will loan 80% of tuition fees for computer software courses which enable the students to earn double or triple their annual income soon after completing the course.
We will collaborate with computer software schools in recruiting and assisting Brahmin students with an 80% tuition fee in the form of a 0% interest loan. These loans will be guaranteed personally by parents or some solvent persons.
If after completion of course work, if the students fail to pay the promissory note in 12month time, the note will escalate thereafter and carry a 12% annual interest on the loan. BEST can and will transfer the note to a bank and discount it.
The funds realized from Bank will be used to loan to yet another Brahmin student. Adding annually Rs. 12,00,000. In 5 years we can have Rs 60,00,000 to sponsor 500 students for these computer courses. In 10 years we can lend Rs,1,2 Crores each year in such loans
Every student will profit from learning with interest free loan and repay in the following 12 months.
Give a man a fish you feed him for a day, teach a man to fish, you feed him for a lifetime. BEST wants to empower you to learn, earn, and succeed.
Our Upanishads say:
“Vidya Dadathi Vinayam. Vinayatdwati Patratam;
Patratath dhanmapnothi, Dhanath dharmam tatah sukham”
Education gives knowledge, knowledge gives deservingness,
Deservingness begets money, giving it to charity gives satisfaction and fulfillment.