AICTE fee refund policy for MBA or other professional course lets you know how much the B-school has to refund at different stages after deducting their charges as AICTE norms for refund of fee 2017. Fee refund is sought by the candidates who have already made the fee payment for admission to MBA and now wish to submit their admission fee refund application as they do not want to study or because they have got a better MBA college.
AICTE fee refund policy allows your MBA fee refund in both the situations-you may withdraw from the MBA-PGDM B-school you do not want to study in or you can switch from one B-school to other. The B-school might hesitate in your MBA fee refund and may misguide you but in your own interest you should refer to the AICTE fee refund policy and should immediately claim the fee refund for your admission fee which you have already paid with the B-school.
Although the top tier MBA colleges try to follow strictly the MBA fee refund norms, the 2nd tier or 3rd tier B-schools refrain from making fee refund as they feel that their MBA programme may not get full intake and try to pressurize the candidate not to push for fee refund.
AICTE Fee refund rules
In the Chapter IV of Approval Process Handbook , All India Council for Technical Education (AICTE) has incorporated all the clauses governing fee refund rules. -The reference for fee refund is made to AICTE Guidelines No. - AICTE / Legal / 04(01) / 2007, April 2007).
-Tuition fee, Development fee and other fee, charged by the institute will constitute the amount of total fee for refund after cancellation of admission secured through Common/Centralized Admission Process rounds, institute level round(s) and vacancy round(s) of admission.
- The candidate, who has been provisionally admitted, may cancel admission by submitting an application for cancellation in duplicate, in the prescribed format as advised by the institute or available on its site and may request for refund of fee.
- The refund of fee as applicable shall be made within the time prescribed/due course by the institute.
-Refund can be applied by the candidates who have confirmed their admission by paying the prescribed tuition fee and other fees in full as demanded by the institute and by submitting the original documents, as desired by the institute.
More strict AICTE Norms for Refund of Fees 2017
AICTE has further tightened its fee refund rules for the MBA/PGDM B-schools for refund of fee for 2017-18. Clause 11 of Chapter IV of AICTE Approval Process Handbook 2017-18 has been amended. AICTE fee refund policy now strictly directs the MBA/PGDM colleges.
- In case of applications submitted by admitted students for withdrawal and refund of fee, MBA/ PGDM Institutions shall allow it till 30th June every year
-Fee refund along with the return of Certificates should be completed within 7 days
The Fee Refund amount at various stages
According to the AICTE fee refund rules and rules of different B schools, refund should be made after deduction of only the cancellation/processing charges depending upon the time factor when the request is made.
You need to claim the MBA fee refund and should write admission fee refund application on the prescribed format. It can be the token amount/commitment fee or known by something else that you have already deposited with the B-school to secure your admission.
AICTE guidelines require only the key information should be included in MBA fee refund claim. The MBA fee refund claim format is broadly the same for almost all the MBA colleges except for a few minor changes specified by the respective B-school. It may include their own prescribed printed format or the one to be downloaded from their site on some payment among others.
The onus to provide the prescribed format of fee refund letter/ application as per AICTE fee refund policy lies on the part of the B schools. The fee refund policy is more or less same in all the institutes but each one may have slightly different fee refund claim format with its name printed on it.
AICTE has directed the institutes not to put pressure on students who do not want to study in the particular institute and facilitate the fee refund in 7 days from the date of receipt of fee refund application. Students are not supposed to run from pillar to post to get the prescribed AICTE format for fee refund.
While some of the institutes readily provide the prescribed printed formats available with them to help the candidates and to smoothen the process as per mandatory requirement of AICTE fee refund policy, some others refuse to co-operate and others may simply ask for the well written application to claim the refund.
The prescribed format for admission withdrawal and fee refund as per AICTE norms of AICTE for fee refund 2017 is shared below. Please also cross check with the institute whether they have some other format for fee refund. Application for fee refund/admission withdrawal should be sent to the B-school in 2 copies.
Application for withdrawal of admission: Session 2017-18
To, Date: The Director/Dean ____________ Res Sir, I secured admission to ___________ (name of the course vis PGDM/MBA) in your institute on ___________(Date of admission). I would like to cancel it for the following reasons: _______________________________________________ (Write the reason)
Name of the candidate: Ms/Mr_________________________________________
( IN BLOCK LETTERS) Surname Name Regn number (Applicable exam like CAT/XAT/CMAT/GMAT/MAT/others) __________________________
Residential Address (As registered)____________________________________
Mob number:__________________________ email____________________________________
Fee paid Rs.____________(In words)_________________________________________
I am enclosing the copy of fee receipt no._________ dated_____________ Amount______________
I am returning my I- card in original (If issued by the B school) Number____________________
I am also returning other documents/material provided to me by the institute
(Strike out whichever is not applicable)
Kindly direct the concerned to return my original documents and refund the MBA/PGDM fee paid as per the AICTE rules.
(Signature of the candidate)
(Name of the candidate)
Acknowledgement of Fee refund claim
If you are submitting the fee refund request in person, please get the fee refund application acknowledged by the authorized person at the B school under his signature, date and stamp of the institute so that you have a valid proof that you submitted the request else the B school may also throw it in the dustbin.
In case you have sent the fee refund application by Registered/speed post/courier, please keep the copy of written application and the postal/courier receipt for your record. If you have sent the MBA fee refund claim by courier, instruct the courier service to provide you the Proof of Delivery (PoD) of the fee refund claim letter. No wonder that one day the B school may say you never submitted the request for fee refund.
Please also send the fee refund request on mail and a copy of the request should also be sent to AICTE.
After receiving the Fee refund
You are supposed to furnish acknowledgement to the institute on receipt of fee refund cheque and original documents. The format is supposed to contain following items, although the acknowledgement slip may differ from one college to other.
Received the following original documents from the ____________________(Name of the B school) along with the cheque towards refund.
1. Cheque no________ date________ amount_________
2. Original document-1 (details)_____________________
3. Original document-2 (details) _____________________
4. Original document-3 (details) _____________________
If fee refund not received in 7 days
-No MBA college can direct or pressurize you to write only the reason of fee refund as it wants. So beware of it and write the correct reason of admission withdrawal.
- Send reminder of fee refund claim to the B-school and to the AICTE if the refund is not received in 7 days. It will help you to retrieve your money faster.
- In case you still do not get the fee refund, do not wait- immediately write to AICTE & MHRD regarding the undue delay. Ask for the compensation also. The institute has no right to withhold your fee beyond 7 days, once you have withdrawn your admission from there.
- You can complain to AICTE and MHRD. They have powers to direct the institutes under AICTE Act
- You may use RTI asking the B school as well as AICTE to clarify the situation as to why the refund is not made.
Action by AICTE in case of fee refund failure by B-school In case of B school not refunding the fee amount as per the AICTE fee refund rules to the withdrawing student and on receipt of student’s complaint, AICTE can-
- Issue show cause notice to the institute
- Instruct the B school to give back the original documents of the student. (If retained)
- Initiate disciplinary action against the B schools
- Withdraw the approval granted to run the programme or course
- Stop admission in the course for 1 year
- Suspend the approval of supernumerary seats in the B school
- Impose penalty upon the institute upto twice the total fee collected from one student