Students may have to pay more for 'world class' institutions as the premier universities and technical institutes in India that can earn a new 'world-class' institution tag will be free to fix their own fee. According to the suggested regulation, the government announced to set up 20 such institutions in the 2016-17 budgets, and half of these are reserved for private institutes. The institutions will be free to admit only 30% of the seats for foreign students.
Every student wants to be a part of the preferred world-class institutions, but it seems that the students might have to pay more. The guidelines of the Government institutions say “The institutes have the freedom to determine the domestic student fees” in compliance with rules of their professional regulatory councils, but no student can be sent away for failing to pay the fees. Such students should be provided with education loans or scholarships.
- Government education institutes can apply for the tag if they fulfill certain criteria such as a healthy faculty-student ratio and a top 25 position under the National Institution Ranking Framework (NIRF). Other than rankings and good faculty strength, both private and public institutes must have modern laboratories and a large campus with sufficient space for expansion to get the tag of world class institution.
- The criteria to apply for the tag is vary for private or adjudged universities. But, even the 10 private universities selected as world-class institutions will have the freedom to determine student fee. These private universities will not get any government financial backing, though.
The world-class institutions are allowed to fix fee for foreign students without restrictions, but with the subject to the condition that no student who gets admission should be turned away for lack of finance. Some institutes and university already have the required NIRF Ranking. The list includes Delhi University, Jawaharlal Nehru University, the University of Hyderabad, and a number of Indian Institutes of Technology (IITs).