IIM Kozhikode slashes its Tuition Fee by Rs. 30,000

IIMs have always been in the news for raising their tuition fees but IIM Kozhikode has kicked off that trend. IIM Kozhikode has slashed its tuition fee by Rs. 30, 000 for its most prominent post-graduate programme and it will be in affect from the academic session of 2012-13.

The total reduction will be around 3% and approximately, students would have to pay Rs 9.7 lakh per annum. This decision has been taken by the institute to protect the students from the inflationary pressures in the economy, said Debashis Chatterjee, Director IIM Kozhikode. 

During last two years, it has been also observed that the education loan rates have increased between 2% to 4% per annum which has put extra burden on the students. He believes that students at the institute should be protected from the steep increase in fees as maximum number of students avail education loans.

About 10% of the students belong to family backgrounds whose annual income is Rs 1 lakh or less. He added, "IIM-Kozhikode has decisively shifted its orientation from exclusive elitism to inclusive excellence."

Some other plans in construction like it is planning to commence an orientation program for SC/ST underprivileged students with its pioneering Centre for Research and Social Transformation (CREST).

Furthermore, he has also declared that this fee waiver would result in a loss of about Rs 1.2 crore in IIM Kozhikode's annual revenue. He said that they will also increase the intake of students by 400 from the academic session 2012-13. At present, the strength of PG programme is 320.

Source: Richha Bhatnagar (Shiksha Team)