In what would be an unprecedented step, Prof. Debashis Chatterjee Director of IIM Kozikode has decided to roll back IIMK tuition fees by Rs. 30,000 for its flagship Post Graduate Programme to protect students from the inflationary pressures in the economy.
Prof. Chatterjee said, “We have observed that during the last two years the student loan rates have increased between 2 to 4% per annum putting additional burden on the students. As a socially conscientious institute, IIMK believes that its students be protected from steep increase in fee as most of our students avail student loans for their studies. Ten percent of our students come from families that have an annual income of Rs. 1 lakh or less.
Hence, I have convinced my Board that we will implement a marginal reduction of Rs 30,000 (i.e. 3% of the fee) from the year 2012-13 onwards as a small proactive step to support higher education system in the country. This reduction of Rs 30,000 will result in a loss of revenue to the tune of Rs 1.2 Crore to IIMK. We will also be increasing our PGP intake to 400 students from the Academic Year 2012-13, in spite of serious constraints in our infrastructure and acute water scarcity. This will offset the reduction in our income.”
In addition to the reduction in fee, the IIMK Director is proposing to introduce a group of Scholarships to support high achievers and contributors to the cause of India. Accordingly it is proposed to introduce the following Scholarships:
- Full Fee waiver to 1% of students having proven record of excellence in academics, sports, extracurricular or social activities through awards or recognitions at national or international level.
- Full fee waiver of children of martyrs belonging to military, para‐military or police force who had sacrificed their lives during action while protecting the pride and honor of the nation. Half fee waiver will be granted to children of defense or allied services that were injured during action and lost their earning capacity.
- Partial Fee waiver for all students who gets admitted under the Persons with Disability category.
These three Scholarships are in tune with the Institute’s mission of being sensitive and supportive to the larger needs of the society. The total outflow for these Scholarships works out to be Rs 1.6 Crores. IIM Kozhikode has pioneered among many other reforms in the IIM system, a dramatic shift in the intake of female students across all IIMs including the new IIMs.
Last year IIM Kozhikode had 35% female students in its batch of 320 students—the highest ever percentage of female students in the history of the IIMs. This geographically challenged Institute was the first to start a two years globally accredited executive Post Graduate Programme through the digital media.
This was the first on site program of its kind in the world to be accredited by the prestigious Association of MBAs in London. IIM Kozhikode is planning to start an orientation program for SC/ST underprivileged students with its pioneering Center for Research and Social Transformation (CREST).
According to Prof. Chatterjee, “We measure the success of our management program based on exceptional value we create at minimum cost to the country. We create value for money as well as value for many by enhancing the nation’s social capital. IIM Kozhikode has decisively shifted its orientation from exclusive elitism to inclusive excellence.”
IIMK was the first IIM to implement affirmative action for the underprivileged even before the Government made it mandatory. Its standing as a school of excellence has not diminished but has only enhanced as result of its social orientation. As part of its capacity expansion activities, IIMK plans to launch some of the new programmes in Cochin. The present plan is to commence the programmes in 2012- 2013.