Kochi: Aiming to protect its students from "additional burden", Indian Institute of Management-Kozhikode has decided to roll back tuition fees by Rs 30,000 from the 2012-13 academic year for its post-graduate programme and introduce scholarships for high achievers. (Agencies)
"This unprecedented move will result in the loss of revenue to the tune of Rs 1.2 crore to IIM-K. This is a pro-active move to support higher education in the country," said Debashis Chatterjee, director of the institute.
To offset the reduction in income, IIM-K plans to increase its post-graduate programme intake to 400 students from the present 340 from the next academic year.
"We observed that during the last two years, student loan rates have increased between two and four percent per annum, putting additional burden on the students."
Chatterjee said as a socially conscious institute, IIM-K believes its students, 10 percent of whom come from families with annual income of Rs one lakh or less, should be protected from steep fee increase as most of them avail loans for their studies.
He said IIM-K would also introduce scholarships to support high achievers.
These include full fee waiver to one percent of students having proven record of excellence in academics, sports, extra-curricular or social activities through awards or recognitions at national or international level and full fee waiver for children of martyrs belonging to the military, paramilitary or police force.
Half fee waiver would be granted to children of defence or allied services who were injured during action and lost their earning capacity, he added.
IIMs to share admission info
To ensure that no seat in the new IIMs remains vacant and to ease the pressure on students, the premier B-schools will share admission information among them and post individual admission criteria in their websites.
Besides, the IIMs will look into the possibilities of offering programmes in non-core areas like health, education and infrastructure, HRD Minister Kapil Sibal said in New Delhi on Wednesday.
Sibal, who chaired a meeting of heads of all the 13 IIMs here, said there was "broad consensus" among the directors on most of the issues including coordination on the counseling system and on the number of teaching hours.
Talking to reporters about sharing admission information, he said the move will ensure reduced pressure on the old IIMs in matters of admission and equal distribution of candidates.
He said IIMs would now increasingly focus on the social sector on problems of relevance to the society and there was a "consensus that we must shift away from business to non-core areas".
Kochi: Aiming to protect its students from "additional burden", Indian Institute of Management-Kozhikode has decided to roll back tuition fees by Rs 30,000 from the 2012-13 academic year for its post-graduate programme and introduce scholarships for high achievers.