The Hindu Business Line : IIML to retain fee structure; expands scholarship base

THE Indian Institute of Management-Lucknow (IIML) has decided to continue charging an annual fee of Rs 1.3 lakh this year while announcing a tuition fee waiver on Wednesday for all students whose family income is below Rs 2 lakh a year. The tuition fee has been fixed at Rs 55,000 per annum.

Students whose family income is below Rs 1.5 lakh per annum will get a complete fee waiver from the institute. Family income includes the students' income, income of spouse and parents. For students whose family income is between Rs 1.5 and Rs 2 lakh, the extent of fee waived (apart from the tuition fee) will be decided on a case-by-case basis.

This was announced by the IIML Chairman, Mr Hari Shankar Singhania, after the board meeting in Delhi.

"Earlier, IIML used to provide merit-cum-means scholarships, but now the institute would not insist on merit to give scholarship to the needy students in the first year. In order to avail of the scholarships in the second year, students would have to prove their merit by clearing the first year," Mr Singhania said.

Last year, IIML accounted for nearly 50 per cent of the total scholarships given by all the IIMs in the country. IIML gave scholarships to 48 out of the total 90 IIM students who availed themselves of scholarships. Additionally, out of around Rs 49 lakh distributed as scholarship across IIMs, around Rs 25 lakh was accounted for by IIML.

Mr Singhania said that IIML also remained in the forefront in arranging loans for needy students and 70 per cent of the students in the institute currently availed the facility from leading banks and financial institutions at low interest rates. Asked as to how the institute would fund the scholarships, he said the Government had assured to extend financial help as the institute's corpus was only about Rs 15 crore.

Today's meeting was attended by most of the board members and the Human Resource Development (HRD) Ministry's Additional Secretary, Mr Sudip Banerjee. During the meeting, the IIML board also shared some of the factual errors reported in the Shunglu Committee report.

Mr Singhania added IIML had increased the intake of students to 270 this year, up from 240 last year. By 2007, the institute aims to admit 360 students and have a total of around 600 students. Additionally, IIML also plans to set up a satellite centre at Noida wherein it will start part-time and full-time management, global executive management, entrepreneurship and faculty development programmes.

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