Yes, the institute has provision for scholarships for its student. The scholarships are either awarded by the government or the university's alumni associations. The students who meet the eligibility criteria of the IIT (ISM), Dhanbad Scholarship programme will be awarded a particular amount of scholarship. Some of the scholarships provided by IIT Dhandbad are Pramod and Meera Thakur Trust (PMTT) scholarship, Zoeb and Shera Mogri Scholarship, Diwan Chand Gupta Memorial Scholarship, Lilavati Gupta Memorial Scholarship, and many others.