IIM Calcutta may hike fee to Rs 15 lakhNews »
IIM Calcutta may hike fee to [rupee] 15 lakh
IIM – Calcutta is finally feeling the pinch of keeping tuition fee lowest among major IIMs. If the B – school authorities get approval from the board of governors, the fee is likely to be hiked from the next academic session. So students aspiring to get into the coveted institute may have to shell out more next year onwards.
IIM – C, however, will still remain cheap if compared with its peers. While IIM – Ahmedabad charges [rupee] 18 lakh for a two – year MBA programme and IIM – Bangalore a lakh less, the same course will cost [rupee] 14.5 – [rupee] 15 lakh at IIM – C even after the fee hike. It charges [rupee] 13.5 lakh for the course now, which was increased from [rupee] 9 lakh four years back.
IIM – C, which has always tried to maintain a student – friendly image when it comes to tuition fees, has finally started debating the issue of an impending hike since it’s becoming exceedingly difficult to generate funds.
Though the ministry of human resources development is the guardian body of the B – school, the latter does not get any financial assistance from it and organizes for funds from corporate projects that faculty members bring to the institute. To augment earnings, the faculty has also started teaching on the satellite mode.
The fee-hike proposal is likely to be discussed at the next scheduled board meeting in December. It will be first moved by the admissions chair and then it will come up for debate at the faculty council before being sent to the board for its approval. Institute insiders say that if the proposal doesn’t get placed in the December board meeting, it will surely be placed in the first meeting of the board in January 2014.
“The tuition fee hike is impending since there has not been a hike for four years now. The rhetoric at IIM – C is in favour of the hike since it’s really becoming difficult to run the institute without a increase in tuition fee,” said Anindya Sen, dean – academics of IIM – C. Though nothing has been finalized yet, he suggested that the revised tuition fee should be between [rupee] 14.5 lakh and [rupee] 15 lakh.
Four years ago, IIM – C had announced a steep jump – from [rupee] 9 lakh to [rupee] 13.5 lakh – in tuition fee. Some faculty members felt it’s better to adopt a gradual – hike policy than opting for a 30 – 40% increase at one go.
“This comes as a shock to students and I am against it. An increase in tuition fee is most likely but I am in favour of a gradual hike given the all – round price scenario,” said Ashoke Banerjee, dean – programmes initiatives.
The admissions chairperson of the institute, Sanjit Singh, corroborated this. “You cannot have such disparity between the big IIMs when it comes to tuition fees. This clearly shows the kind of stress IIM – C is already suffering. The hike will have to happen before the new batch joins in June 2014,” he said.