Steep hike in fees by IIM Lucknow for current batch
Indian Institute of Management (IIM) Lucknow has hiked the fee for its two-year Post Graduate Programme in Management (PGPM) by more than 35% for the batch 2020-22. The effective fee increase is Rs 5.09 lakh from INR 14.16 lakh (2019-21) to INR 19.25 lakh (2020-22 batch).
Incidentally, all other B Schools under AICTE are sticking to the old fee structure for the current year and even offering flexi-pay to students due to the Covid 19 Pandemic, some IIMs are going ahead with their plan to increase the fees.
According to the IIM Lucknow, the decision to increase the fee for the batch commencing 2020 had been taken in a a meeting held in June 2019.
Generally, decisions to increase fees are taken by most of the B Schools much before the session begins and announced before the opening of applications.
While this year too many B Schools did announce the hike in fees way back in 2019, before opening of the applications window for the successive year, the fees were later rolled back considering the current situation.
All India Council for Technical Education (AICTE) Guidelines
The AICTE, earlier in a letter dated May 1st 2020, to all the colleges and institutes providing courses on engineering, management, architecture and pharmacy, universities, deemed to be universities, affiliated technical institutions and polytechnics, instructed to follow the guidelines issued by the University Grants Commission (UGC). The UGC had on April 30 issued guidelines regarding exam calendars and academic session 2020-21 in which it was stated that the institutions should not hike the admission fees or other fees for the Academic Year 2020-21 and also should not force the selected candidates to pay advance fees during lockdown. READ the full story.
IMT Ghaziabad rolled back fees 17.5 Lakh to 13.5 Lakh
FORE School of Management rolled back fees 15.98 Lakh to 14.98 Lakh
GIM Fees rolled back fees 16.96 to 15.97 Lakh
This move to revise fees to the old structure was accepted by institutes and seen as a welcome gesture during the difficult times.
Fees hiked by other IIMs -
IIM Bangalore fees hike by 2 lakh, INR 21 Lakh to 23 Lakh - up by 10%
IIM Rohtak fee hike by 1.4 lakh, INR 13.8 Lakh to 15.2 Lakh - up by 10%
IIM Nagpur fees hike by 1.25 lakh, 12.5 lakh to 13.75 lakh - up by 10%