The Indian Institute of Management - Ahmedabad (IIM-A) has stuck to its guns on the fee hike issue at the board of governors meeting on Saturday
AHMEDABAD: The Indian Institute of Management - Ahmedabad (IIM-A) has stuck to its guns on the fee hike issue at the board of governors meeting on Saturday.
However, with OBC quota to be implemented in phases starting this academic year, the economic burden of the staggered fee-hike has increased on the institute.
Defending the decision to increase the hike, IIM-A director, Sameer Barua described the hike as the Robin Hood policy - those who can pay and should pay but the institute will go out of its way for those who cannot afford it.
Barua said that because IIM-A is ready to give complete waiver to students whose family income is below Rs2.5 lakh as against Rs one lakh, the average fee collected per student, even after the hike, would not be more than Rs3.5 - Rs4 lakh,” he explained.
IIM-A will also add 34 seats in its post-graduate and agri-business management course. Of these, 17 will be for OBCs and 17 for general category in this academic year, as per the Supreme Court’s ruling. Barua said, “All the new OBC students necessarily from non-creamy layer will be aided by the institute as per our new student aid policy.”
Already, with Rs8.5 crores set aside for the students who will receive fee waivers and scholarships, IIM-A expects to collect Rs 4.2 lakh on average as fees from the students, which will now fall to approximately Rs3.9 Lakh. “The IIM-A fees is not flat Rs11.5 lakh. It is a graded fee structure where a student will have to pay anywhere between 0 and Rs11.5 lakh, according to his/her financial situation,” said Barua.
IIM-A has also negotiated with five different banks a soft loan scheme at reduced interest rates and no collateral. “It is first time in the country that such a consideration for economically backward students is being given and we hope that it can be a model for other educational institutes in the country to follow,” Barua added.
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
)
){kind=small}
){kind=small}
)
)
)
)
)
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}