Studying in the UK - How Viable is Studying in the UK?

FROM _ TOI  

How Viable is Studying in the UK?

The Indian Institute of Management, Ahmedabad has tightened its purse strings this year for students who enjoy fee waivers. The move comes after it came to light that many of the so-called economically weaker students splurged during exchange programmers abroad. 

The institute's financial aid committee has decided to enforce stricter screening of students who apply for a waiver. And, the results are already showing. Last year, 331 students got relief worth Rs 9.84 crore from the institute. This time around, 270 students will get waivers worth Rs 8 crore. 

The fee waiver scheme is meant for students of postgraduate programme in management (PGP) and PGP in agro business management (PGPABM). 

"This is to ensure that the provision is availed by deserving candidates only. From this year onwards, we will be cross checking details of the students' wealth to know better about their actual financial standing," said head of IIM-A's financial aid committee, Ajay Pande. 

Until now, students could enjoy fee waivers on the basis of their income certificates. From this year, applicants will have to give more details on their family backgrounds, profile of parents, earnings of siblings among others. 

The new rules will be applicable to students who joined the institute this year (2011-2013). Earlier, students were eligible up to 100% waiver from the total fee, which has been raised to Rs 14.5 lakh for the two-year programmes from this year. From this year, students who qualify for the waiver will get a maximum relief of up to 70% of total fees. 

A student will not qualify for a waiver if any of these indicators suggest that a student has a backup to fund his education. "The idea is that students should support themselves as long as they could. If a student is given 70% loan, he can manage the remaining 30 percent. Paying off a loan of around Rs 4 lakh should not be a tough task for an IIM-A-ite."