The MHRD is planning to increase the fee of all IIT's from next academic session 2016-17,confirms MHRD through a press release
This fees hike shall be immense with the increase approx 120% i.e. from Rs. 90,000 to Rs. 2,00,000 per annum. Notably,IITs last hiked their fee from Rs 50,000 to Rs 90,000 per annum in 2013. But, Government is not too harsh on all,as it has brought certain important exemption
- The SC/ST/Differently abled students shall get a complete fee waiver.
- The most economically backward students (whose family income is less than Rs.1 lakh per annum) shall get full remission of the fee.
- The other economically backward students (whose family income is between Rs.1 lakh to Rs.5 lakh per annum) shall get remission of 2/3rd of the fee.
- All students shall have access to an interest-free loan under the ‘Vidya Lakshmi Scheme’ for the total portion of the tuition fee payable.
The hike will mean a student will have to spend Rs. 10 lakh.
Earlier,the average salary package after a student graduates was only Rs. 5-6 lakh or even less.
Further, all IITs are asked to use the increased student fee for infrastructure development with the
assistance of funds from the Higher Education Funding Agency (HEFA) so that the increased fee directly translates into better infrastructure for the students. As per orders issued, the matter will be placed in next meeting of the IIT Council for ratification.
Hoping that this increase will bring more expertise,infrastructure and facilities to our IITians and thus they shall bring more glory to Nation ,their Institution,
family and self.