In order to achieve the mission that education is not denied due to the poor financial condition of families of disadvantaged sections, the Department of Education, Himachal Pradesh (H.P.) is running three major schemes in the name of SSA (Sarv Sikhska Abhiyaan), mid-day meal, and RUSA (Rashtriya Uchchatat Shiksha Abhiyan) and 29 scholarship schemes to different categories of Bonafide Himachali students who are regular students in government/ government aided/ government affiliated institutions in H.P. Post-matric scholarship (PMS) scheme to scheduled caste/scheduled tribe (SC/ST) students is a centrally sponsored scheme implemented by the Himachal Pradesh government since its formation. The scheme fully cover all compulsory non-refundable payments that are to be made by the student to the institution and provides for some minimum maintenance allowance for beneficiaries daily miscellaneous expenses. The present study is an attempt to examine this scheme with the aim to understand the level of awareness and level of satisfaction attained by the beneficiaries, and to ascertain the gaps and problem faced by both, the beneficiaries and the implementing institutions so that some doable interventions to make the scheme more viable can be suggested. The primary data-base is generated through a sample of randomly selected 304 beneficiary students of 18 education institutions across seven districts of Himachal Pradesh for the academic year 2016-17. It is found that the post-matric scheme provides much needed cushion to SC/ST students belonging to poor families and helps them to catch up with their education profile despite financial crisis at home. However, malpractices followed by the host institutions needs to be curtailed by bringing in greater awareness along with transparency.