IIM-A to teach poor students for free
Based on the income distribution of students last year, over 65% students would benefit from the fee waiver scheme. You will pay more for studying management
By TNN |
AHMEDABAD: Despite having effected a whopping 200% fee hike ��� the steepest in the history of Indian Institutes of Management (IIMs) ��� the IIMA has managed to take the government on its side by presenting what could be termed as the Robin Hood model of fee collection, where students coming from well-to-do families would help fund the education of poorer students. This the institute decides to achieve through the concept of fee waiver, perhaps taking cue from the central government���s idea of introducing loan waiver for farmers in the last annual budget.
IIMA has presented its much-awaited clarification on fee hike, a day after convincing the Union ministry of HRD on its logic. The IIM has termed the model of fee hike as a ���first-of-its-kind.��� In this model, while students having family incomes of Rs 1 lakh and below will avail of a complete waiver, those with family incomes up to Rs 6 lakh will also avail of some amount of waiver.
IIMA has presented its much-awaited clarification on fee hike, a day after convincing the Union ministry of HRD on its logic. The IIM has termed the model of fee hike as a ���first-of-its-kind.��� In this model, while students having family incomes of Rs 1 lakh and below will avail of a complete waiver, those with family incomes up to Rs 6 lakh will also avail of some amount of waiver.
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���We have introduced the fee issue in a more innovative manner than what was done till now. Previously, everyone paid the same fee and later received need-based scholarship. Now, we shall waive fees for poorer students apart from providing need-based scholarships, for which a corpus of Rs 1 crore has been earmarked,��� informed the director of the institute, Samir Barua. Mr Barua also explained the sudden fee hike as necessitated by the Sixth Pay Commission recommendations that required the institute to take into account the rise in faculty salaries.
Based on the income distribution of students who took admission last year, more than 65% students would benefit from the proposed fee waiver scheme, which will amount to Rs 7.5 crore. This is the amount the institute expects to generate by fee hike. Mr Barua said fee scheme was based on 100% cost recovery.
Apart from tuition fee waiver, the institute has also decided to provide need-based scholarship that will take into consideration the expenses incurred by the students towards miscellaneous requirements like books, cases, teaching materials, stay, computer, library, etc.
The institute has budgeted Rs 1 crore for 2008-09 to provide assistance for these expenses too to the needy students.
���We are also negotiation with leading banks for special loan packages to be provided to students who are admitted to the PGP on favourable terms. Several banks have expressed keen desire to do so,��� Mr Barua further added.
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