The 4% donation received from loanee Waqfs on the outstanding, as well as the interest accrued on the Bank deposits of the Revolving Fund, form the Education Fund of the Council. This Fund is utilised for implementing the following programmes;
i) Matching Grant to the State Waqf Boards for providing scholarship in their respective States to the Higher Secondary, Madarsa students and to the students undergoing Technical/Professional Diploma Courses;
ii) Grant for the establishment of I.T.Is. in the Muslim concentrated areas;
iii) Financial assistance to Voluntary Organizations for Vocational Training Centres;
iv) Financial assistance to Libraries for developing Book Bank; and
- v) Ad-hoc grant/emergency grant for admission in professional courses and fee for coaching of competitive exams to the poor and needy students.
Till 2007-08, Council had scholarship and Ad-hoc grant programmes for poor and needy students. In this, the Council had granted scholorship to 12,952 students of Technical Degree courses like MBBS, BUMS, BAMS, B.Tech and B.Sc. (Ag) etc. and Ad-hoc grants to 6,366 Poor and Needy Students of general degree courses.The Scholarship/Ad-hoc grant scheme of the Council has been discontinued, owing to the implementation of the similar scheme of Ministry of Minority Affairs Government of India. Now for all type of scholarship, please visit the website of the Ministry of Minority Affairs.
Up to March 31, 2012, under the programme of vocational training, 628 Voluntary Organisations/ Technical Institutes have been assisted. Similarly, under the scheme for setting up I.T.Is., the Central Waqf Council has approved twenty I.T.Is. in the Muslim concentrated areas.