IIM-C to weigh tution fee cut next year

FROM - http://economictimes.indiatimes.com/

KOLKATA: The Indian Institute of Management, Calcutta (IIM-C) will evaluate the possibility of reducing its tuition fees for the next academic year, following a similar move by IIM Kozhikode, IIM-C director Shekhar Chaudhuri has said. 

"Even though our tuition fee is not one of the highest, it can still be a burden for a large section of students," Chaudhuri said. The tuition fees for IIM-C are at 13.5 lakh for the two-year flagship MBA programme, post graduate diploma in management. Tuition fees for the current academic year were not raised, he said. 

IIM Kozhikode earlier this month said it will roll back tuition fees by 30,000 from the next academic year for its post-graduate programme and introduce scholarships for high achievers. 

"At IIM-C, we have a scholarship scheme, under which we offer to 160-170 students annually, covering both first and second-year students. In some cases, we also offer full tuition-fee waiver. Such schemes may also be increased to provide a relief to students," Chaudhuri said. He was talking to the media on the sidelines of the inaugural session of IIM-C's golden jubilee celebrations here on Monday. 

Incidentally, IIM-C had said, a few days ago, that it will refund course fees of students if they join a public sector undertaking or a voluntary organisation. The initiative is primarily aimed to make such jobs attractive to students, who prefer corporate jobs for higher compensation and paying off their education loan. 

IIM-C is also tapping newer sources of revenue. For instance, income from online education now accounts for 20% of its total income, says IIM-C's chairman of the board of governors Ajit Balakrishnan. "This is much higher than global institutions like Harvard and Stanford. We have already trained over 4,000 students online," he said. 

Former president of India APJ Abdul Kalam said in the inaugural session that students in India need not worry about the slowdown in Europe and the US. "The growing purchasing power of India's 400 million middle-class will provide enough career opportunities. Economic development is powered by creative leaders and who can take risks. However, students should work with integrity," he said.