K J Somaiya College offers a variety of scholarships to support students from economically weaker backgrounds, as well as those who excel academically. Key scholarships include the Rajshri Chhatrapati Shahu Maharaj Scholarship Scheme, which provides a 50% fee waiver for students with a valid income certificate under Rs. 8 lakhs per annum. The TATA scholarship is available for students excelling in academics. Economically Backward Class (EBC) students can avail a 50% tuition fee reduction.
The college also supports minority students, offering a Gujarati minority scholarship of Rs. 25,000. Additional scholarships are provided by the Somaiya Trust and other trusts, based on merit and financial need. The annual fees for engineering courses range from approximately Rs. 1.31 lakhs to Rs. 1.8 lakhs, with variations depending on the program and year. External education loans and government scholarships are also facilitated by the college.

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