INSPIRED BY IIMs , IITs PLANS TO HIKE ITS FEE STRUCTURE

Getting inspired by the Indian Institute of Management(IIM) the Indian Institute of Technology (IIT) Officials are planning a serious contrivance to hike the fee structure similar to that of the IIM’s. This is being planned to make the Indian institute of Technology autonomous and to reduce credence on the state subsidy.
 Anil Kadokar , the atomic energy Chief heading the apex decision making body has been asked to make an outline of the fee hike. This panel under Kadokar was set up on the Oct19th and the members have to been asked to submit the report on 6 months. In the meeting on Oct 19th the issues discussed were how to increase the no. of fellowships, scholarships and how to provide financial help to the economically weak students.
The new fee hike structure of the IITs follows the IIM strategy of providing financial assistance to those students who cannot afford it. The top IIMs raise their tuition fee every year and are able to attain 10 times more from each student. The IITs had a fixed tuition fee of 25,000 for undergraduates and 50,000 for postgraduates (for 10 years before the fee was doubled last year). And now the fee structure has changed to 1lakh for the undergraduates and 2lakh for the postgraduate science students.
 For the past few years the IITs have been complaining about the paucity of funds as their expenditure was more than the funds allocated to them. The Reserve funds earned from the alumni and the money earned through the consultancy projects in industries have helped them to meet the deficit. The IITs also say that their students pay back the education loan when they start earning sufficient salaries.