Kozhikode: IIM Kozhikode, Kerala, has decided to reduce its annual tuition fee by Rs 30,000 for its prestigious post-graduate (PG) programme, from the next year’s academic session 2012-13. The amount is a reduction of about 3% of the total fee, which would result in students paying around Rs 9.7 lakh per year.
As per sources, the institute has taken the decision to protect the students from the inflationary pressures in the economy. Supporting the decision, Debashis Chatterjee, Director, IIM Kozhikode, said that the institute has observed that the student loan rates have risen between 2% to 4% per annum during the last two years.
In addition, he said that as a socially meticulous institute, IIM Kozhikode believes that its students should be protected from abrupt increase in fee as most of its students take advantage of student loans for their studies. IIM-Kozhikode has decisively shifted its orientation from exclusive elitism to inclusive excellence, he added.
Furthermore, Chatterjee also declared that this fee waiver would result in a loss of approx. Rs 1.2 crore for IIM Kozhikode’s annual revenue. However, to overcome this loss, the institute will also be increasing PG programme intake to 400 which is currently 320, from the upcoming session 2012-13.
