IIT Council Approves Fees Hike

Prashant Munshi · 2013-01-25T01:56:57+00:00

In a latest move the IIT council last week approved a hike in fees up to an extent of 80% for BTech programs. Still it is claimed that the hike is not enough to make IIT truly financially independent and much lower than suggested 2.5 lakhs by Kakodkar Committee. A lot of justifications are being given, but do readers believe that this hike would affect economically weaker sections? Is financial independence more important than keeping the talent out just for the sake of not able to afford the premium technical education? Could there not be any other way to resolve the issue of finances? If a student takes education loan at the stage of an undergraduate program itself as one of the justifications given by the council, can he/she would further afford to go for higher or overseas education? Just want the members to ponder on these points and express their opinions. Thanks

IIT Council Approves Fees Hike

Prashant Munshi
@prashant-munshi-qp7Wu5

Updated: Oct 17, 2024

Views: 903

In a latest move the IIT council last week approved a hike in fees up to an extent of 80% for BTech programs. Still it is claimed that the hike is not enough to make IIT truly financially independent and much lower than suggested 2.5 lakhs by Kakodkar Committee.

A lot of justifications are being given, but do readers believe that this hike would affect economically weaker sections? Is financial independence more important than keeping the talent out just for the sake of not able to afford the premium technical education? Could there not be any other way to resolve the issue of finances? If a student takes education loan at the stage of an undergraduate program itself as one of the justifications given by the council, can he/she would further afford to go for higher or overseas education? Just want the members to ponder on these points and express their opinions. Thanks

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Divya Nair

Member • Jan 25, 2013

it's gud that IIT'S wants to be financially stable but, FEES HIKE in terms of students is quite disappointing.As the weaker section of society will think for the adoption of loan twice.

But stability of IIT'S is also necessary to promote research work.Some other provisions should be there.

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Kaustubh Katdare

Administrator • Jan 28, 2013

IITs ultimately are a 'business'. They need money from various sources like fees and donations to keep going. The fee hike is their own internal business but I'd feel sad if someone is ever denied of education because they can't pay the fee.

If the governments could take up full responsibilities of the IIT; then they shouldn't really ask for a single buck from the students. But in that case, there has to be a 'condition' that the students who graduate must serve Indian companies (not foreign companies operating in India) for at least 5 years.

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sksaxena

Member • Jan 28, 2013

This hike is a perfect step for making IITs financially independent. It should have been done long before. But anyways, good things come after a time.

Explanation for those, who are concerned for students of IIT :

Everyone knows that IITians definitely get a job...A GOOD Job. This thing is also known to Banks. Students selected by JEE are offered loans promptly by banks as banks know very well that it'll be repaid with good amount of interest as soon as these students will pass out. So, no matter what the fees is, the student selected for IIT will get the fees easily in the form of loan. After B.Tech, he can repay loan and earn good for himself too. So, student gets benefited.

Banks gets a good amount of interest, so bank also gets benefited.

Usually IITians leave India(brain drain), BUT in this case, they'll atleast pay a good amount of financial contribution to Indian economy. Otherwise, they almost study for free in India and get hired at high packages in Abroad. So, atlast Indian Economy WILL ALSO GET BENEFITED!!!

If everyone's getting benefited, then I believe it's not a bad decision. If still less, then fee should be hiked more to make IITs totally financially independent.

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Kaustubh Katdare

Administrator • Jan 28, 2013

#-Link-Snipped-# : Didn't get how Indian economy benefits from fee hike.

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sksaxena

Member • Jan 29, 2013

The_Big_K
#-Link-Snipped-# : Didn't get how Indian economy benefits from fee hike.
I meant that even if IITians go abroad after being hired there, then still, they will pay atleast some finite amount of money as repayment of their fee loan. So that contribution is far better than studying for free(almost) in India and enjoying life in abroad. And I hope you understand when money will be paid to India, it'll definitely improve the economy(no matter how small the contribution is).

Hope this clears my opinion!

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ISHAN TOPRE

Member • Jan 29, 2013

It is always the best if you get admission in to IIT even if the fees is hiked to INR 1000000 per annum. It will always be a profitable deal given the high reputation of the institution.

(For those, who worry to much about money, You can always earn astronomical amounts once you are certified by the institute. Hence don't think about money. Think about quality quality of knowledge.)

Hence this debate is meaningless.

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