IIM-Lucknow reduces fee for its flagship programmes

The Indian Institute of Management, Lucknow reduced the fee for its flagship post graduate programmes in management and agri-business for the academic session 2013-15. The institute has cut the fee by 10%, the management programme will now cost students Rs. 10.8 lakh instead of present fee of Rs. 12 lakh.

This important decision has been taken by the IIM-L Board is the first of its kind step taken by any IIM across the country. IIM-L Director Devi Singh said, “The Board arrived at the decision because we felt that even students from the lower middle class segments should be able to aspire to join this premier management institute. Though the facilities of student loans are available these days, the high fee structures do have a tendency to intimidate both parents and students.”

Singh, mentioned that the IIM-L has followed a two year fee revision pattern-the last fee revision was done in 2011-and said the institute had the lowest fee structure in the country. He said, “In the past nine years, the institute's impetus has been on efficient financial management and broad-basing our revenue sources. We have been successful in achieving this. We have no reliance on government grants now. Everyone can be assured that this decision will not mean any reduction in either the quality of education, infrastructure or any other services in the institute. We will remain focused on optimal utilisation of resources and effective financial management.”

Chairman of the IIM-L Board of Directors, JJ Irani, said, "In today's environment when education is becoming costlier, IIM-Lucknow would like to take a lead. This decision will not only help many needy students undertake education at an institution such as ours, it will also widen the area of selection amongst eligible students for undertaking education at IIMs."