IIM-K to reduce tuition fees by Rs 30,000

Kochi, Nov 2 (PTI) Aiming to protect its students from "additional burden", Indian Institute of Management-Kozhikode has decided to roll back tuition fees by Rs 30,000 from the 2012-13 academic year for its post-graduate programme and introduce scholarships for high achievers. "This unprecedented move will result in the loss of revenue to the tune of Rs 1.2 crore to IIM-K. This is a pro-active move to support higher education in the country," said Debashis Chatterjee, director of the institute. To offset the reduction in income, IIM-K plans to increase its post-graduate programme intake to 400 students from the present 340 from the next academic year. "We observed that during the last two years, student loan rates have increased between two and four per cent per annum, putting additional burden on the students." Chatterjee said as a socially conscious institute, IIM-K believes its students, 10 per cent of whom come from families with annual income of Rs one lakh or less, should be protected from steep fee increase as most of them avail loans for their studies. He said IIM-K would also introduce scholarships to support high achievers. These include full fee waiver to one per cent of students having proven record of excellence in academics, sports, extra-curricular or social activities through awards or recognitions at national or international level and full fee waiver for children of martyrs belonging to the military, paramilitary or police force. Half fee waiver would be granted to children of defence or allied services who were injured during action and lost their earning capacity, he added.