Dear Saksham,  India has a poplulation of over 1 billion people. And it is difficult to know each and everyone at a personal level. So you not knowing a single person who hasnt benefitted doesnt mean the programme is unreal. There are lakhs of students of studebts who cannot afford their studies. And among them are very few who are genuinely hardworking and deserve the scholarships. So this is a programme to eliminate atleast a percentage of inefficiency in funding studies. So if anyone needs a scholarship, one needs to prove that he/she is worth it. That is the reason the entrance examination has come into picture. AISEE stands for All India Scholarship Entrance Examination. This is conducted at a National Level and is provided by an Organisation that is registered under the Ministry of Finance Act 1994. This test is an eligibility test for scholarship for Engineering and Medical Students with an objective to fund all those candidates who have no financial means to fulfill their dreams. When we say 'All those' we mean that 'All those students whose families have financial problems and cant afford to make such huge payments for education are eligible to take this exam.
It is for those who cannot afford their fees. So you are the better judge if it helps you or not. It is a National programme and hence cannot be fake. If you meet the eligibility criteria and financial parameters you can apply. And you get the schoalrship if you qualify in the examination. Mere attending the exam doesnt guarantee a schoarship.

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