If Sarathbabu (Crorepati who lives in a hut!!!) can get into IIM without having money, anyone can.
Is he reading it? Nobody cares anyway.
Coming to the crux:
1. People who join IIM are normally experienced grads.
They can save money in 3 years which can easily tune up to 8/9 lakhs.
I mean if you are getting into IIM, you have to have some skills. No tom, dick, harry (like in Software) can get into that.
If you are an average person, the above amount can be saved.
2. You can avail loans.
Loans are always available. Of course, you need to have some assets here to show to the bank (God, again this guy Sarathbabu comes to mind - how did he do it???)
3. Some companies provide study based fund and you can avail that.
Btw, if you have cleared IIM, I do not see why a bank (if you have assets) will not give you money.
Funny thing is what IIM policy makers are thikning?
Now that the price of the course is equivalent to international standard, have the placement or ranking have been of international standards. IIMs do not even come in top 20 B schools of the world.
So will the policy makers do something on that respect, so that people who have already paid for the amount, can at least think of refunding it withing few years.
i am frm IIM and like to clarify few tigs...... 80% students of IIM are fresh from college......the course is for entry level managers.....brand gives you lateral placements....
two....banks give loans without collateral these days for IIM students.....so you dont have to have assets to get these loans......
and there is alumni fund for soft loans...who cannot get bank loans.....
as for international standards......apart from infrastructure...yes i do also not see anythin international standards......
and yes its a dilemma...becuz the vision and objective for IIM is to create international standard managers for indian market....
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RE:cheating by HP Computers
by Hate Who divides on May 15, 2008 11:26 AM Permalink
go to service centre ,,,,,,,,,,,,,,, sk them what complaint should i launch against you in consumer court????
I am planning to take GMAT and then go for MBA at institutes like IIMs. I was planning and saving the money to the tune of Rs 7-8 lacs for this course. Suddenly, one of my fiends called and told that how you can plan for this as its fee is Rs 15 lac at IIMA (PGPX). Since I am so strongly made up for this degree that I'll certainly go for this and will take a loan as my savings will not suffice; but I am disappointed. Though some news are coming that FM is going to rise study loans to the tunes of Rs 280000 crores this year apart from making the process of study loans easier yet it seems a mountain for middle class student like me. Justification to fees may come but if you put the records of salaries aside, the justification of these fees in terms of salary earned lies in the womb of future for an entrant. He sees only present which seems immovable like mountains in terms of fees.
RE:Little disappointed
by subash bose on May 15, 2008 11:03 AM Permalink
How much you aim to score in GMAT. What is your experience? And how about extra curricular?
IIM fees are not at all justified. I fail to understand how come such a big mgmt institute do not get the very first thing.....If you are going to charge so much...This guy will not work for country...He has work in some MNC to pay back loan.
There are few students who like work for country or for NGO or start there own business. All this require this person should not be in debt the day he is out of college.
I feel if a IIM Student do attend campus or accept any campus offer and work for country OR start his own business. Then his loan must be made void.... His education must be free.
IIMs thus eludes the basic purpose of there existence.
RE:Not at all Justified
by Anuj Goyal on May 13, 2008 05:23 AM Permalink
Corrected msg:
IIM fees are not at all justified. I fail to understand how come such a big mgmt institute do not get the very first thing.....If you are going to charge so much...This guy will not work for country...He has work in some MNC to pay back loan.
There are few students who like work for country or for NGO or start there own business. All this require this person should not be in debt the day he is out of college.
I feel if a IIM Student do NOT attend campus or accept any campus offer and work for country OR start his own business. Then his loan must be made void.... His education must be free.
IIMs thus eludes the basic purpose of there existence.
RE:Not at all Justified
by Priyanka Hazra on May 13, 2008 07:48 AM Permalink
This is a very valid point. If I manage to get my wards admitted in IIMs with this fee hike definitely I will advice them to work for MNCs with overseas placements since you have to pay back the loan with full interest. This means India is producing efficient managers but not able to reap the benefits of a good harvest. Anyway I do hope policies will change.
RE:Not at all Justified
by Anuj Goyal on May 13, 2008 10:24 AM Permalink
There is difference between what is happening and what is the the possibility of happening....This takes possibility close to absolute zero...Where as policy should do other way round...They should increase the possibility.......
RE:RE:Not at all Justified
by ritesh agarwal on May 19, 2008 11:31 AM Permalink
you are right and let me inform you that at least 3 IIMs are raising an endowment fund to exempt the loan of people willing to work in NGO. People from my batch are working towards it and have already raised a substantial amount :)
The case looks valid... if these are these conditions are sustained, I feel IIMs can go ahead with the increase in fees... The rich will be able to repay the loan nevertheless; and the poor will not be charged a fortune......
There is no dearth of banks willing to lend to IIM/IIT students; and with the salaries they get after graduating, repayment isn't difficult at all. So where is the problem?
Govt. should concentrate on basic/primary education, ITIs (not IITs), vocational training and skill development for the disadvantaged and those in rural areas.
RE:govt. should focus on primary, basic education
by raheem vaheed on May 12, 2008 03:36 PM Permalink
Ok...so a Narayana Murthy who availed Indian Govt Subsidy while studying and setting up his co.....and an Ambani who is never shy of evading tax through manipulative means...and IIM/IIT Profs who couldnt stay on in US or get into teaching positions at Harvard bcoz of the competition.....want us to pay the fees like in US so Govt wont be burdened with the salaries of these profs? Very laughable indeed !
I would say with the tough level of screening and the quality of the students coming in...and the availability of aspiring young Profs...does it matter if these Buddhas(Oldies) were replaced?
RE:govt. should focus on primary, basic education
by naveen bhatnagar on May 12, 2008 03:31 PM Permalink
one should accept that IIMs should not raise the fees like this. I understand that getting the loan and repayment is not a concern but increasing the fees year on year is sth which needs a valid explanation.From 2009 it will be 11 lakhs and in 2014 it will be 15 lakhs...and so on...this is not expected from the institutes which are funded by govt.
RE:govt. should focus on primary, basic education
by on May 15, 2008 11:34 AM Permalink
You sure that the IIMs are "funded by govt", coz since 1993 the Govt has asked IIMs A,B&C to pretty much raise their own funding. The other 3 IIMs are relatively newer, thus recieving Govt funding and hence no such increase in fees there. Hope this provides you with the "valid explaination" you were looking for, and will help you look at the whole picture and not some contorted image of the scenario based on your ignorance
There shouldn't be any tension with the rise in fees.. 11 lacs for a IIMA grad is an easy money to repay.. Even by the lowest salary they get, they can pay by 2-3 years... whats the big deal.. atleast now they have made a very valid point..
if you are a parent of a average guy and you fall in the reservation category.. you ll think a million times before puttin ur child in IIMs because of the fees.. and for parents whose child is brilliant or good in studies, it wont be a problem.. So the brand of IIMs would be maintained with this one.. Think.. on the brighter side of anything.. :-)
RE:Its good to have high fees...
by naveen bhatnagar on May 12, 2008 03:33 PM Permalink
one should accept that IIMs should not raise the fees like this. I understand that getting the loan and repayment is not a concern but increasing the fees year on year is sth which needs a valid explanation.From 2009 it will be 11 lakhs and in 2014 it will be 15 lakhs...and so on...this is not expected from the institutes which are funded by govt.
RE:Its good to have high fees...
by pankaj Kumar on May 12, 2008 11:55 PM Permalink
IIMs are not accepting any grants for last some years... they are autonomous.. so govt should leave them at their expense.. let them decide whats good or bad.. fees hike anywhere in india is not accepted easily.. so u need to understand that to maintain its reputation in india as well the world it needs world class facilities and staff..
one more thing.. who ll pay for the increase in infrastructre in lieu of the rise in reservation... blame arjun singh for this.. he is the main culprit..
RE:OBC? yes. Rich? yes. Welcome to IIM
by apocalypto on May 12, 2008 03:37 PM Permalink
yes you are correct. I am going to give a dark and dramatic picture of the end of this era of reservation.the wicked will be punished and good will be triumph through God's intervention!!!
