IIT Panel Approves 200% Fee Hike; HRD Ministry yet to Finalise

New Delhi/Mumbai: Seeking admission into IITs for the academic year 2016-2017 may prove costly for students, as IIT approved 200% fee hike in annual tuition fees, up from Rs 90,000 to Rs 3 lakh for undergraduate students.

However, the final decision on the hike should require approval from HRD minister Smriti Irani.

The Standing Committee of IIT Council (SCIC), which met on Thursday, analysed the average cost per student and had come out with a suggestion that 60% should be collected from students.

A panel, comprised the directors of the Bombay, Madras, Kanpur and Hyderabad IITs, had prepared a draft - 'Roadmap to Financial Autonomy of IITs', in consultation with the HRD and finance ministries, in which it recommended the hike. Thus, the panel had stated, would be enough to cover costs incurred by way of salaries and maintenance.

Speaking to TOI, SCIC chairman Ashok Misra said, "On an average, it costs a bit over Rs 5 lakh a year to educate one student at an IIT. But while we approve the increase in fees, we also want to assure students that there will be scholarships and loans and the IIT gates will be open to all, irrespective of their means".

However, ministry has not given the nod to the proposal, and made it clear that various aspects should be taken into consideration before approving the fee hike.

The committee has also recommended that the every student will be offered interest-free educational loans under the Vidyalakshmi scheme.

The proposed new entrance examination, conducted by a National Authority of Test (NAT), designed to screen IIT aspirants, would be held from 2017 onwards, is the another key recommendation made in the meeting.