This is exactly why I won't study at IIMs

Education looses its purpose when it get treated like a business. Why can't the so called best institutes provide quality education at nominal fees. Why should the best be offered on Financial Merit!

This is getting low, dirty and disgusting!

The Economic Times article - 29/12/2007

COSTLY LESSONS

IIMs to hike fees by up to 50% from next year

STEEPEST HIKE FROM IIM-A

Mansi Bhatt AHMEDABAD

GET READY to pay a huge premium to study at the country’s premier management institutes. Despite strong opposition from the human resource development ministry, the Indian Institutes of Management (IIMs) are set for a huge fee hike from the next academic session.

The proposed fee structure will see IIMAhmedabad effecting one of the steepest hikes in the history of management education in India. The IIM-A intends to hike its fees to whopping Rs 3 lakh for the 2008-2010 batch from the current Rs 2 lakh. This 50% increase will be the steepest fee hike by any IIM. Last year, IIM-Bangalore increased annual fee by Rs 75,000, from Rs 1.75 lakh to Rs 2.5 lakh. IIM-B plans to further increase it to Rs 2.75 lakh for the next academic session.

The board of governors of IIM-A has approved the steep hike despite strong reservations from the HRD ministry. According to sources, at a recent board meeting of IIMs, the members approved fee hike for the flagship PG programme for the next academic session. The ministry officials do not seem to be happy with the decision and are expected to ask for less stiff hike. IIM-A last increased its fees in March 2007, from Rs 1.77 lakh to Rs 2 lakh.

The institutes are increasing fees to offset the rising expenditure per student. “Majority of the board members accepted the proposal despite opposition from the members from state and central governments who thought the hike was too steep,” said a member who attended the meeting. While the HRD ministry representatives and the state government officials opposed the hike, the other members argued that hike was imperative considering the Pay Commission recommendations.

I I M - A

To hike fees for 2008-2010 batch from Rs 2 lakh/year to Rs 3 lakh/year It had increased its fees from Rs 1.77 lakh to Rs 2 lakh in March 2007

I I M - B

To increase fees to Rs 2.75 lakh for the next academic session In March this year, it had hiked fees from Rs 1.75 lakh to Rs 2.5 lakh

I I M - C & I I M - L
Raised fees to around Rs 2 lakh in the past one-and-a-half years