B-schools have to refund fees if student cancels before admissions close: AICTE
The rules on admission fee refund take effect immediately and specify that B-schools can admit only those who qualify CAT, XAT, CMAT, ATMA, MAT, GMAT, or an entrance exam conducted by a state government
New Delhi: Institutes offering a postgraduate diploma in management (PGDM) can deduct Rs1,000 from fees paid by students who decide to withdraw before the last date for admissions, according to rules framed by the technical education regulator.
The rules, in a notification issued on 14 December, take effect immediately and specify that these institutes can admit only those who qualify through one of six all-India tests—CAT, XAT, CMAT, ATMA, MAT, GMAT—or an entrance examination conducted by a state government.
There are over 400 such institutes offering PGDM courses that come under the purview of the All India Council for Technical Education (AICTE), including the likes of XLRI Jamshedpur, SP Jain institute of Management and Research Mumbai and MDI Gurgaon.
Many of these institutes allegedly refuse to refund fees—ranging between Rs3 lakh to over Rs10 lakh—to students looking to cancel their admission.
“PGDM institutions shall refund fees collected after deducting an amount of Rs1,000 as processing fee and return the certificates to the students withdrawing from the institutions before the last date of admission for whatever reasons, as per the procedure prescribed by AICTE,” the notification said. “The last date for withdrawal of admissions for the purpose of refund of fees shall be 30 June every year.”
It stipulated that PGDM institutes must specify fees being charged on their websites and in admission brochures. “A number of these institutes charge lakhs of rupees in fees and it used to be difficult for students to shift if they got admission somewhere else as many used to withhold the fee submitted to them. Clear-cut directions have been issued and they will have to comply,” said a senior AICTE official who declined to be named.
“In order to properly regulate and enhance the quality of management education imparted in institutions that are offering PGDM, it has been felt that norms and standards regarding academic calendar, admission, AICTE model curriculum and fee refund be spelt out precisely through the regulation,” the notification said.
It also specified that the duration of a PGDM programme will be no less than 21 months and the academic calendar for admission of students will be followed as prescribed by AICTE. Admissions will start on 1 March and end by 30 June every year.
- Going to study in the UK? Pay more for visa from December
- Peerless Skill Academy Kolkata to offer healthcare and hospitality courses
- Govt asks colleges, universities to refund fees in case of withdrawal of admission
- Cabinet merges NSDA, NCVT to improve monitoring, assessment of skills sector
- Scrapping MCI may lead to key changes in medical education
- Banks turned wary of NBFCs months before IL&FS defaults
- HUL Q2: Rising input costs face off against healthy demand growth
- Q2 results: DMart finally set to face a reality check
- Temporary staffing: Decent employee additions, margin pressures may sustain
- Gujarat relief for Tata Power, Adani Power underlines sector’s harsh reality