Like every where we need to follow " No free lunches ". Subsidy on higher education must go. Instead easy loans for deserving candidates is right solution. They can pay once they pass out and earn good salary in corporate world.
Re: IIM Fee Hike
by NJ InTrance on Oct 03, 2008 09:46 AM Permalink
I agree. In the US, every degree's price appears to have a "net present value" component. So if you go to medical school, be prepared to shell out $200 K, Law school $150 K, business school, $100 K, etc.
I think IIMs and IITs should have zero subsidies. But they should also leverage their brands to work with financing institutions and provide 100% aid for students to ensure only insufficient talent is a barrier to entry. Not having enough money should definitely not be a deterrent. And oh, being of a certain caste certainly should not.
Going through all the comments makes for interesting reading most people who commented, are either not aware of facts, or just twist them in any manner which suits the way they want to think Facts : 1. IIMs provide fee waivers to students from lower income groups, and ALL students from lower income groups are eligible for it 2. Once OBC quota comes in, all of them will be eligible for this financial aid, since none of thee people will be from the creamy layer 3. Banks provide loans without any issues, ask any IIM student 4. Someone said bank loans don't cover living costs, which is true. But irrespective of whther you study in a IIM with high fees or for free, your living costs have to be borne by you. That does not change. Since the bank loan covers your fees, mess and hostel; I seriously fail to see logic in the argument that since bank loans don't cover living costs, high fees should not be charged. 5. Management education needs world class infrastructure, access to various softwares, databases and journals. All these cost money, and most of these liscences are expensive. 6. The Govt DOES NOT provide any financial grant to IIMs A,B and C, and that has been the case for a very long time. This is also good since that ensures that the IIM boards are not run by the Govt but autonomously. Again, ask any IIM student/alumni's opinion on this. 7.
RE:far from reality?
by Mukulmani Barua on Jun 24, 2008 11:48 AM Permalink
IIMs are autonomous institutions but are still government institutions carrying a mandate of the Government of India ie the country itself. Therefore, the central government still has the right to intervene when it deems it necessary.
RE:far from reality?
by ritesh agarwal on May 19, 2008 11:22 AM Permalink
IIM-A, B and C don't take any grant from government. If I remember it correctly then they stopped taking grants 5 yr back
RE:far from reality?
by martand shukla on May 31, 2008 04:14 PM Permalink
But for that infra 165% increase in fee????????? man move to IIT and see the infra, much higher,much better,which needed. Is IIM is anythinh DIFFERENT from IIT????? Dude it is just "Maximum utilisation of Given Resources". They are using name;thats it. And don't you think you are clearly diffentiating between poor class and rich class, and it is clearly no justice, just following ENGLISH RULE policies. we work a lot for IIM, if this is going to do we need to have a high pressure of LOAN and INTREST. and make sure everybody is not risk taking man...... plz stop this stupidity now atleast....
R.Sankar This will definitely affect the deserving aspirants.Mostly the students who opt for management course is from middle and slightly above middle income groups.Rich people and Politicians earning through the corruption and malpractices only can afford payment for the fees.As lot of readers have pointed out the seats in IIMA can be got if you have work experience and save money considerably.Since the returns are extremely good and attractive one aspires for the management course at reputed Institutions. My suggestion is let the fee structure be freezed same as currently being charged but make it mandatory that the managers after getting posted in reputed concerns should pay back the excess amount in instalments to the Institutes.This will not only make the entry level affordable by giving deserving aspirants the oppurtunity to study.On an average more than 75% will be loyal and will pay back the excess amount due to the Institutes.The alumnies should take the initiatives in this direction and they should adopt the incoming students and it is the duty of them to see that deserving students are getting benefitted.
RE:IIM Fee hike
by avi chawla on May 19, 2008 10:27 AM Permalink
hmmm i think mr sankar u didnt read this carefully . There is a differential fee scheme. The richer u are the more u pay the poorer u are the less u pay. Believe me once u get a seat at IIM Ahmedabad the institute makes sure that no one misses the opportunity to study because of the lack of funds. I have been offered admission at IIM - A and the authorities have taken the funding situation very seriously abt 22 students will not pay any fee this year Sections of media like this always provide incomplete information to incite the public and this is sad. I must tell u that 'rich politicians' cannot send their children to IIM-IIT. these institutes demand merit! also iim students earn a lot during their internships so they can pay back a substantial part of the loan at the begining of the second year of study itself! also it is imperitive to understand that.. everyone gets loan without any collateral etc. At a time when govt does not provide any funding and when it is absolutely essential so that the insititutes can mantain their world class standards i feel that the institute is justified in fee hike. I am a middle calss indian with parents in govt jobs having admission at IIMA. When i dont have any problem, because i know the position the best, i do noit understand why ppl with no stake at all keep blabbering!
RE:IIM Fee hike
by on May 19, 2008 11:05 AM Permalink
IIM grads figure heavily in education loan default. Anyway paying later doesnt sound too credible
RE:IIM Fee hike
by ritesh agarwal on May 19, 2008 11:24 AM Permalink
Yaar plz check the facts. I and one of my close friend personally talked to the managers of SBI, Indian bank and Bank of India in Ahmedabad and according to them, this is simple blown out of proportion. People just seem to blast IIT/IIM people for no reason
Can they afford the fees charged by coaching institutes anyways? Do they have the opportunities? Go and see any IIT/IIM --- the %ge of students in general category -- who are either in lower middle class or poor or from rural areas -- is 2-3%. Nobody who gets into IIT/IIM from general category is worried about the hike in fees. And, as the director of IIMA said -- the fees is equal to just 4 months of median salary.
RE:Can a lower middle class or poor guy or rural student get into IIT/IIM anyway?
by Mahesh Acharya on May 15, 2008 11:13 AM Permalink
dear mr bharat may be u r telling right that only 2-3% people are from rural or lower middle class. But these people also willing to come forward and want to make their children's life better and anyhow they manage,but now after the hike in fees I think all the doors has been closed. Now be happy bcz noone from poor family dare to think for empowerment and the future of india will be dominated only by the rich people
RE:RE:Can a lower middle class or poor guy or rural student get into IIT/IIM anyway?
by avi chawla on May 19, 2008 10:30 AM Permalink
mr mahesh for such students there is no fee at IIM Ahemedabad. The media is misrepresenting facts. This year 22 students were given full fee waiver. People whose family income is more than 500000 per month are the only ones who have to shell out full fee. In this light. U will agree that the fee hike is justified.
RE:Can a lower middle class or poor guy or rural student get into IIT/IIM anyway?
by Hate Who divides on May 15, 2008 11:13 AM Permalink
No body aske dyou tyour opinion ..........but you cannot say nobody have any problem ......... many personal problem will make you deprived of loan as in my friend case His sister marriage is on November he has to take loan for marriage ....... for that purpose he is not joining IIT Bombay which has only 3.27 Lakh Fee .........Please dont mix up your feelings and assumption......... and one more thing Brilliant students never need coaching
RE:RE:Can a lower middle class or poor guy or rural student get into IIT/IIM anyway?
by avi chawla on May 19, 2008 10:33 AM Permalink
Please ask ur friend to contact me. There are many loans avialable for students which ocver not only fee but also expenses for books and computer. this is available without parents signature/collateral. Also IIT Bombay has a very effective merit cum means scheme. I studied at IIT Kharagpur and am not joining IIM Ahmedabad. Do not listen to hearsay. The administration at IIT-IIM is very logical. the policy statement here says 'no student shall miss education at the premier institutes for the lack of funds' Hence these students must talk to the insti authorities. Do not go by media reports.. these are incomplete!
RE:RE:Can a lower middle class or poor guy or rural student get into IIT/IIM anyway?
by saraswathi ramachandran rama on May 19, 2008 10:20 AM Permalink
brillianst students also need coaching.it helps. Secondly when is this Indan system on spending ehavily on a agirl's marriage going to change? Only then will girls get education on equal footing as men. A grown up woman is free to and has to take responsibility for her own marriage,with the guy sharing his portion.
RE:RE:RE:Can a lower middle class or poor guy or rural student get into IIT/IIM anyway?
by avi chawla on May 19, 2008 10:30 AM Permalink
i made to iim without coaching
RE:Can a lower middle class or poor guy or rural student get into IIT/IIM anyway?
by on May 19, 2008 11:07 AM Permalink
I think ur friend is making a huge mistake...dude! giving up IITB...is he crazy? Ask him to fight a bit more....do anything...but get in. Getting into an IIT and thn giving up sounds stupid whatever way u try to justify it...
This could be tackled by reserving more setas for OBC and convert it to IIOBCM . Naturally there will be call of politicians to reverse the fee hike as it can convert it into votes which is even bigger than fees.
RE:see the salary to a IIM guy then think about fees.
by Hate Who divides on May 15, 2008 11:20 AM Permalink
what do you know about IIM salary..........you can make a law that after your degree you have to work 5 yrs completely in India for refunding subsidy provided by govt an for your information average package og IIM Is 14 Lakh many of them get between 6-10 Lakh.........ofr tthem Fee Hike is one /two year pay for fresher with no exp
just try to find our why fees are increased. what is the ratio of students who don;t have to pay anything..? are there any ? find out drop outs bec of inability to pay fees, what section of society they belong to, and then comment on it.
