IIM-A hikes fee hiked to Rs 5.5 lakh
The Indian Institute of Management, Ahmedabad announced more than 100 per cent hike in the fees for its post graduate programme from June 2008.india Updated: Mar 29, 2008 20:31 IST
The Indian Institute of Management, Ahmedabad (IIM-A) on Saturday announced more than 100 per cent hike in the fees for its post graduate programme from next academic year.
Till last year, the fee of IIM-A's PGP programme was Rs 2.50 lakh, which has been increased to Rs 5.5 lakh for the first year and Rs 6 lakh for the second year of the two-year post-graduate programme for the batch joining in June 2008.
This is for the first time that the IIM-A will be charging different fees for the first and second year in the same programme, sources in the Institute said.
The decision was taken unanimously at a meeting of the Board of Governors of IIM-A today, they added.
"The Board of IIM-A reviewed the cost structure of the two-year PGP programme and after an extensive discussion, the Board unanimously decided to increase the fee," Chairman of IIM-A Board of Governors and Society Vijaypat Singhania said.
The Board reiterated the commitment that no deserving student would be deprived of an opportunity to study at IIM-A on account of lack of financial resources, Singhania said allaying concerns that the fee hike will affect poor students who wish to join IIM-A.
"The board has therefore decided to triple the annual family income limit from Rs 2 lakh to Rs 6 lakh for a student to be eligible for financial support. Graded, need-based financial aid will be available to eligible students who qualify for financial support," Singhania further said.
The IIM-A is not taking any grants from the government to run the institute, sources said, adding that the cost overruns for the PGP programme has forced the institute to take such a decision.
An IIM-A student said, "We have not faced any problems in our academic study due to the high fees as we have been getting ample financial assistance".