Management diploma at Jamnalal Bajaj now costs Rs 50,000 for first year. Students asked to pay up in 10 days, may file petition in HC.
Management diploma at Jamnalal Bajaj now costs Rs 50,000 for first year; Students asked to pay up in 10 days, may file petition in High Court
MUMBAI: Kishore Walanju, pursuing a Masters in Financial Management (MFM) from Jamnalal Bajaj Institute of Management Studies, was in for a shock on Friday when he read the notice board at the institute. It said students admitted for the three-year postgraduate diploma course would have to shell out a revised fee of Rs50,000 per annum as against the earlier Rs17,000.
“I fail to understand the rationale of revising the fees by 200 per cent when classes for the new academic year have already begun,” said Kishore.
The institute has asked students to make the payment within 10 days. Irked students feel the fee hike is irrational and have decided to file a petition in the Bombay High Court. “The difference is huge. Even institutes like the Narsee Monjee Institute of Management Studies and Welingkar do not charge more than Rs30,000. The revision was made after the course began, so we can’t even cancel the admission. Besides, admissions to other management schools are now closed,” said another student, Ravi Patil ( name changed).
Students questioned how an institute affiliated to the University of Mumbai could charge such hefty fees. “It’s too much for a part-time course. Besides, it has not been providing enough facilities,” said a disgruntled student, Sunil Kumar.
Justifying the hike, Jamnalal Bajaj Institute of Management Studies director RK Jadhav said, “How long can the university subsidise education? The University of Mumbai has prescribed the fee structure taking into consideration the expenditure incurred by the institute to conduct the courses. The revised fees are still low compared to those charged by private institutes. We have been collecting development fees of Rs20,000, as we need to renovate the institute building and conduct additional classes.”
Not on course
The institute has fixed Rs50,000 as fees for the first year of postgraduate courses like Masters in Information Management, Masters in Financial Management, Masters in Marketing Management and Masters in Human Resource Development Management
For the second year, the fees is Rs60,000
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