Posted by: h4ck@lyst | April 3, 2008

IIM-A fees hike

IIM-A’s board has increased the fee of its coveted two-year PG programme after reviewing its “cost structure” __ from a total of Rs 4.50 lakh (for both years) to Rs 11.50 lakh (Rs 5.50 lakh in the first year and Rs 6 lakh in the second year) from June this year.

Some other IIMs — Bangalore, Kolkata and Kozhikode — have also increased their fees, though not as steeply as IIMA, and on Wednesday Indian Institute of Foreign Trade also indicated a marginal fee hike.After a meeting with HRD minister Arjun Singh, IIM-A board chairman Vijaypat Singhania ruled out a review, but added that enough scholarships would be available to support meritorious but poor students. Against Rs 40 lakh earmarked for scholarship, the amount now would be Rs 8.5 crore, covering 62% of students. “The hike was necessary because freeships are now weakening the institute by putting a burden on its corpus fund,” Singhania told reporters after the meeting which lasted over an hour.

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