Getting your MBA fee refunded from the B-school where you do not want to study or because you have got a better MBA college, has become very difficult as most of the MBA/PGDM colleges do not prefer fee refund. Almost all the MBA colleges publish on their site the fee refund rules but none of them refund it easily to the candidates who do not wish to do MBA with those B-schools. MBA colleges do not refund the fee despite the fact that All India Council of Technical Education (AICTE) Fee refund norms are clear and AICTE has also taken a very tough stand in case the B-schools do not refund the fee to the candidates as per its fee refund rules.
After depositing the MBA fee for the 1st semester or even the token fee to secure your MBA seat in an MBA college and later on trying to withdraw from the B-school, many a time you end up not getting the fee refund from the MBA college even after running from pillar to post.
AICTE Fee refund rules are clear
MBA colleges cannot pressurize you to write only the reason of withdrawal that it wants, you can withdraw your admission for any specific reason due to which you are withdrawing your admission.
You may plan to withdraw the MBA admission from one B school after getting admission offer from some other good B-school or due to second thought coming to your mind that I do not want to pursue MBA this year and plan to prepare again to get the top B-school next year.
With all this, now you need to claim the fee refund whether it is the token amount/commitment fee or known by something else.
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.
But, not enough to know the AICTE fee refund rules
Knowing the AICTE fee refund rules is not enough as the B-school would be hiding many facts from you. If you have paid fee and now plan to take admission in some better MBA programme in other institute, the present B-school would be using all the tactics and pretexts so that it can delay the payment of refund to you.
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.
The query like ‘I have secured admission to one of the new IIMs but I already deposited admission fee to a good B school, now I want to get refund from that institute and wish to pursue PGDM from IIM. When I approached the institute for refund they asked me to write an application but didn't mention what to write therein. How can I get the fee refund’ is very common and MBAUniverse.com has frequently been receiving such queries.
MBA Fee refund claim: Use correct claim format
AICTE fee refund policy lets you know how much the B-school has to refund at different stages after making fee payment for admission but the more important is to know how to claim the fee refund and how to write the letter in prescribed format to get this legitimate claim.
Candidates face problems on getting the right format to write fee refund letters and the B schools are also not happy to help them in applying for admission withdrawal and for fee refund. The tactics are adopted by many B schools to put pressure on the candidate to linger on and not allow smooth return of original documents and refund of fee.
The onus to provide the prescribed format of fee refund letter/ application lies on the part of the B schools. The policy of fee refund is more or less same in all the institutes but each one may have slightly different 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 due course. 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 some others refuse to co-operate and others may simply ask for the well written application to claim the refund.
How to write and submit MBA Fee Refund letter
The prescribed format for admission withdrawal and fee refund as per AICTE norms 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
1.____________________
2.____________________
3.____________________
(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.
Thanking You,
Yours faithfully,
_________________
(Signature of the candidate)
(Name of the candidate)
Get 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 request on mail and a copy of the request should also be sent to AICTE. Do remember to continue sending the reminders after 15-20 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, once you have withdrawn your admission from there.
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) _____________________
Don’t be scared of unwarranted problems caused during fee refund process on withdrawing your MBA admission from the B-school. The institute is trying not to make payment to you or wants to cut a major unauthorized chunk out of your payment. No doubt that despite the AICTE laid down norms for fee refund the B schools make the fee refund process most irritating and make it a tale of woes, still they have to refund the fee.
Stay tuned to MBAUniverse.com for more updates on MBA fee refund process
