The Indian Institute of Technology (IIT) might increase its fees three times. It could increase from 90,000 to 2.5 lakhs. The proposal is to hike the tuition fees of the bachelor programmes. A committee headed by scientist Anil Kakodhar, is likely to plan out the increase.
“The agenda mentions a facility to provide interest-free loans will be worked out to facilitate the fee increase,” said the director of an IIT who did not wish to be named, reports Business Standard.
The university believes that the fee hike is for the expenditure on labs, equipments, library, staff salary, housekeeping, water and electricity, and hence decreasing its dependence on government funds. The students of Schedule Caste and Schedule Tribes are most likely to be unaffected.
“The Council adopted a funding mechanism under which Government will appreciably enhance investments in capital assets, labs, equipment and research, leaving the bulk of running expenses to be recovered through student fee. The increased fee would be met 100% by student – loans at 0% rate of interest. This will help in building NITs into robust institutions,” a statement from the NIT council said, reports Hindustan Times.
The relief is government is trying to make student loan easy to provide and interest free, as well as providing information on how to get small business loans.
Since the hike is going to be steep the government wants to ensure those who require education loans do not face any problems,” said an official, to Hindustan Times “Setting up of helpdesks at all engineering colleges and doing away with the interest on loans could be a possibility.”