Monday, May 02, 2011

IIM-A pays more than Rs. 100 million as fee waiver

Indian Institute of Management, Ahmedabad (IIM-A) doled out more than 20% of its total fee income as fee waiver during academic year 2011-12. The institute introduced family income-linked fee waiver policy in 2008 and in the last academic the total fee waiver was more than Rs. 10 crore (Rs. 100 million) to Post-graduate Programme in Management (PGP) and PGP-ABM (Agri Business Management) students, an amount that is highest so far.

In 2008, IIM-A hiked fee for the PGP from Rs. 400,000 for two years to Rs. 1.15 million. It then defended the move by saying the new fee structure also took into account the waiver the institute decided to offer to the students coming from weaker financial backgrounds. In 2009, it raised the fee by Rs. 100,000 while in 2010, it raised fees by Rs. 120,000. It has recently decided to increase fee for two-year PGP programme by 5.5% (bringing the total fees to around Rs. 1.45 million).

In 2008, IIM-A introduced various slabs for fee waiver based on annual family income between less than Rs. 100,000 to Rs. 600,000. "In the academic year 2010-11, the institute earned more than Rs. 45 crore (Rs. 450 million) from fees of PGP and ABM. On the other hand, we have given fee waiver of more than Rs. 10 crore (Rs. 100 million) to around 280 students of PGP and around 50 students of ABM," said Professor Ajay Pandey, head of IIM-A's financial aid committee. In the academic year 2009-10, the institute had given fee waiver of more than Rs. 8 crore (Rs. 80 million) to around 310 students of PGP and ABM.

"As the fee and batch size both increased in 2010, our waiver also increased. Financial aid given to the students in 2010 is the highest so far," Professor Pandey added.

Source: The Economic Times, May 2, 2011

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