IIM-K cuts fees by 3%, Move To Save Students From Inflationary Pressure.

New Delhi, Nov 01: IIMs are often in the news for raising their tuition fees. IIM-Kozhikode has bucked that trend, and has decided to roll back its tuition fees by Rs 30,000 per annum for its prestigious post-graduate programme from the 2012-13 academic session.

The reduction is 3% of the total fee, and students would have to pay around Rs 9.7 lakh per annum.

Director Debashis Chatterjee told TOI the decision has been taken to protect students from the inflationary pressures in the economy. He said, “We have observed that during the last two years the student loan rates have increased between 2% to 4% per annum putting additional burden on the students. As a socially conscientious institute, IIM-K believes that its students be protected from steep increase in fee as most of our students avail student loans for their studies. Ten per cent of our students come from families that have an annual income of Rs 1 lakh or less.” He added, “IIM-Kozhikode has decisively shifted its orientation from exclusive elitism to inclusive excellence.”

The institute is also planning to start an orientation program for SC/ST underprivileged students with its pioneering Centre for Research and Social Transformation (CREST).

Chatterjee admitted that the Rs 30,000 fee-waiver would result in the IIM-K’s loss of revenue of about Rs 1.2 crore annually. “We will also be increasing our post-graduate programme intake to 400 students from the academic session 2012-13, in spite of serious constraints in our infrastructure and acute water scarcity. This will offset the reduction in our income.” At present, the PG programme’s strength is 320.

Besides slashing the fee, Chatterjee is proposing to introduce a group of scholarships to support high achievers and contributors to the national cause. It has been decided to give full fee-waiver to 1% of students, having proven record of excellence in academics, sports, extracurricular or social activities through awards or recognitions at national or international level. Full fee-waiver would also be given to children of martyrs belonging to military, para-military or police personnel, who died in action. Half fee-waiver would be granted to children of defence or allied services, who were injured during action. Partial fee-waiver would be given to all students, who get admitted under the category of persons with disability.

Source : The Times of India