Every year in April – May, announcement is published in local newspapers in the districts inviting applications from needy students for free scholarship.

- FOR SCHOOL - V to X standards only 15th July 2018
- FOR PUC / JR.COLLEGE 15th  August 2018
- FOR DEGREE (BA / BSc / BCom) & Diploma 15th SEPTEMBER 2018
- FOR BE / BArch / BPharm / MBBS 15th OCTOBER 2018 

Free Scholarship:

Students of schools and colleges are awarded free scholarship from standard 5 at school level up to the Degree / graduate level. Freeship is granted to needy and deserving students of G.S.B. community, whose parents are unable to fully meet student’s expenses on education. The League presently DO NOT give free scholarship to post graduate courses ( M.A., M.Sc./ MCA etc )
On request, application form is sent by post. It may also be collected from the League’s office. Filled in application form along with the supporting enclosures must reach the Leagues office by the due date as stated above in this form, only by post / by hand delivery. The form is revised each year as necessary. Application Form of previous years is NOT valid this year.
During the year 2017-18, the League has disbursed free scholarship of Rs 108.37     lacs among 4084 students which includes about 2,000 school students from villages and towns. Each school student received Rs.1,000 per annum. Of the total beneficiaries, 2043 were girl students.
The League has a scheme of giving preferential treatment to girl students in one or more categories depending on funds availability and without creating a precedent, at the sole discretion of the Managing Committee. This scheme is intended to encourage the girl students to continue education. Free scholarship scheme is presently the main activity of the League.

Loan Scholarship for courses in India:
This scheme introduced in 1956 and functioned till 1986. It was discontinued due to poor repayment from beneficiaries.

Foreign Loan Scholarship:

The Corpus for Foreign Loan Scholarship (at the end of March 2018) is only Rs.13 lakhs (Rs. 1.3 million). The League grants a loan scholarship of Rs.2 lakhs (Rs.0.2 million) per student. Hence, at a time, we can help six students for studying abroad.
Due to the small Corpus we decline help to many aspiring GSB students. We propose to increase this Corpus to Rs. 1 crore (Rs.10 million). We solicit Endowments to enable increase in the quantum of scholarship and also to increase the number of beneficiaries. This fund is revolving in nature. Repayments are ploughed back into the Fund.   The donor to this fund is eligible to claim tax relief under section 80G.

Following are the names of the Foreign Loan Scholarship beneficiaries 1982-2017:

Sudarshan V. Bhat B.C.S.Baliga Sudhakar K. Mallya
Ateen A. Khatkhate Rajkanth K. Kamath Abhay V. Borkar
Prasad V. Pai Manjunath Prabhu Ravindranath Kamath
Nandita S. Aras Amit P. Rege Prakash D. Tendulkar
Nitin R. Prabhu H. Jawahar Kamath Madhukar N. Thakur
Dhanwanti R. Nayak Omprakash Nayak Dattatray N. Gawaskar
Rajesh R. Prabhu Vikram V. Shanbhag Dr. Vivek V. Shanbhag
Satish M. Pai Radhakrishna Pai Jairam N. Kamat
Rajesh S. Kamath Ganesh V. Balgi Medha M. Pai
Rohan G. Murkunde Vivek G. Prabhu Dr. Smita V. Kamat
Sandeep M. Nayak Dinesh M. Bhat Sanjay G. Kamath
Rita Achyut Shenoy Ashwini A. Telang Durgaprasad S. Rege
Ravi R. Gokarn Dr. Deepraj Bhandarkar Vinayak D. Bhat
Mr. J. Giridhar B. Pai  Mr. Rajesh S. Nayak   Mr. Yatin R. Gokarn
Mahesh H. Dalvi Sandeep Khatkhate Sushil D. Padiyar
Mahesh P. Karande Durgesh S. Desai Ashwini S. Kamat
Sarvottam K. Rao Parashar Desai Savita S. Kini
Hrishikesh S. Pai Vaishali S. Kamat Nisha S. Aroskar
Niranjan S. Dhabolkar Sweta S. Aroskar Manjunath G. Kamath
Salil U. Talaulikar Mayuresh Masurkar Aditya Chandraghatgi
Vijay N. Shanbhag Anup Bandiwadekar Vaishali Kamat
Laxmi Shankar Wagle Darshan S. Pai Dr. Sanjeev Tendulkar
Sunil S. Kamath Preeti S. Bhat Dr. Subramanya Nayak
Amol V. Shanbhag Dayanand M. Kamat Dr. Smita Koppikar
Prasad N. Shenoy Preeti S. Mahale Yogesh C. Samant
Vishal V. Prabhu Vinayak A. Hegde Chaitanya N. Rangnekar
Chetan G. Bhat Amit Rajadhyaksha Ninad S. Diwadkar
Puneet R. Gaitonde Apoorva A. Patki Dipti S. Hattangadi
Gauri S. Bhat Jutika A. Ullal Chinmay V. Kini
Sandesh D. Bawadekar Mayura A. Wagle Hetal Suresh Kulkarni
Vinit Chandrahas Shanbhag Ameya Dilip Argekar Sandeep Rajiv Gaitonde
Sushant Sunil Shenoy Smt. Gauri S. Pandit Shri. Santosh Vinod Telang
Arati Gajanan Sakhalkar Kedar A. Patkar Tejashree V. Shenoy
Sheena H. Sakharpod Ameya A. Bhangle Nikhil N. Kini
Chirag V. Kamat Amol D. Pai Sneha Suresh Kamat
Shruti Sadashiv Patkat Ajit Jagannath Bhat