The fees at the premier technical institution in India- the IIT’s will witness a dramatic increase as envisaged and duly suggested by the Standing Committee of IIT Council. There will be a threefold increase in the annual fee structure. Considering the suggestion of the council, the present annual fee which is Rs. 90,000 will rise to Rs. 3,00,000 for Indian students, whereas for International Students, it will rise from US$4,000 to US$10,000. The final say from the HRD Ministry is in the pipeline.
Loan Facility under Vidya Lakshmi Scheme
The sudden increase in the fee structure is going to put a tremendous amount of pressure on the common households in India. Considering the income distribution and the challenges that most of the IIT aspirants have to face the IIT Standing Committee has proposed that every student whosoever wants to avail loan facility can do so under the Vidyalakshmi Scheme. The best part of this scheme is the loan will be against zero mortgages.
Another unprecedented call taken by the Standing Committee of IIT is to hold IIT admission tests in eight countries to attract more foreign students from abroad.
Free Coaching For Admission in IITs
The council has also taken a bold move to improve the coaching structure for admission in IITs with counselling and tutorial for JEE free online. In this program, the professors from IIT will participate in the free online lesson program to help IIT aspirants prepare for JEE Main and JEE Advanced. The professors would actively participate with students face-to-face online and provide them the requisite coaching in Chemistry, Biology, Physics, and Mathematics.
Last year, studies from IIT revealed that almost 50% of the accepted entrants to IIT had not opted for coaching classes. This fact suggests that coaching is not the ultimate route for IIT’s but definitely it can be taken as an option and support.
With such a move of free online coaching, most of the aspirants will be able to live their dream of studying in IIT’s.
In US News and World’s Report, IIT Bombay has been ranked among 40 best institutions in the world. IIT Bombay occupied 36th position in the list.