Thakur college offers scholarships to meritorious and needy students. Eligible students pursuing UG and PG students can avail scholarships on MAHADBT. Some of the few scholarships available for TCET Mumbai students are Rajarshi Chhatrapati Shahu Maharaj Shikshan Shulk Shishyavrutti Vojna, Dr. Punjab Rao Deshmukh Hostel Maintenance Allowance Scheme, Government of Maharashtra Scholarship for the Minority Communities Students and others.