| 18 March 2017 1232 ISTAICTE issues strict guidelines on MBA/PGDM fee refund and directs B-schools not to start admission before April 1
The B-schools who did not refund fee to the students withdrawing from the course shall have to refund the fee in 7 days from the date of receipt of the letter from such students. AICTE has categorically directed the institutes not to charge excess fee nor the fee refund claim should be held up beyond 7 days.
Releasing the Approval Process Handbook (APH) 2017-18, All India Council for Technical Education CTE also prohibits the B-schools to start their PGDM admission before April 1. AICTE clarifies “The Admission to PGDM, PGDM (Executive) and PGCM shall not start before 1st April of the Academic Year.”
Process fee refund in 7 days; AICTE to B-schools
‘ In case of applications submitted by admitted students for withdrawal and refund of fee, PGDM Institutions shall allow it till 30th June every year’, says AICTE. ‘Fee refund along with the return of Certificates should be completed within 7 days’, adds AICTE in the Clause 11 of Chapter IV of Approval Process Handbook.
In the event of a student withdrawing before the starting of the Course, the entire fee collected from the student, after a deduction of the processing fee of not more than ₹1000/ - (Rupees One thousand only) shall be refunded by the Institution.
It would not be permissible for Institutions to retain the School/ Institution Leaving Certificates in original. Should a student leave after joining the Course and if the vacated seat is consequently filled by another student by the last date of admission, the Institution must refund the fee collected after a deduction of the processing fee of not more than 1000/ - (Rupees One thousand only) and proportionate deductions of monthly fee and proportionate hostel rent, where applicable.
In case the vacated seat is not filled, the Institution should refund the security deposit and return the original documents. Institution should not demand fee for the subsequent years from the students cancelling their admission at any point of time.
Don’t charge excess fee; warns AICTE
Charging excess fee than the fee prescribed by the concerned State/ Fee Regulatory Committee is not permitted. The B-schools is entitled to receive from the students fee for the subsequent years and any other fee (Payment/ Amount) whatever name it may be called in addition to the fee fixed by the State/ Fee Regulatory Committee.
2 Years MBA fee: Not more than Rs.1.71 lakhs
AICTE has reduced the MBA fee after accepting the Fee Committee recommendations. The revised fee structure puts a tuition fee cap of Rs.1.71 lakhs in tier-1 city for 2 year MBA programme offered by top rated private B-school and in case this B-school is located in tier -3 city, the proposed fee structure is 1.58 lakhs.
PGDM Admission Criteria Changed
AICTE has also set the guidelines for PGDM admission criteria, weightage to various components, its programme duration for different type PGDM programmes
Changes in Admission Criteria
AICTE has restricted the PGDM B-schools from starting their admission to PGDM, PGDM (Executive) and PGCM before April 1 of the respective academic year.
AICTE has further directed the B-schools to inform the State Government and clearly display on the Institution web site the eligibility criteria, selection procedure and the merit list of the students who have applied for the Programme. The selection of students shall be strictly on the basis of merit.
Admission on the basis of common entrance test
According to Appendix 9 of APH 2017-18 released by AICTE ‘Admission to all PGDM Courses and PGCM Courses shall be done through common entrance tests CAT/ MAT/ XAT/ ATMA/ GMAT/ CMAT and common entrance examinations (if any) conducted by the respective State Governments for all Institutions other than Minority Institutions.’
Adding further, AICTE says “Admission to PGDM Programmes shall be conducted by the respective Institution by transparently announcing the schedule as well as the tests through which admissions will be made.”
It implies that the institutes offering direct admission or conduct their own entrance test may not be allowed to do so any more.
Stay tuned to MBAUniverse.com for more updates on AICTE guidelines on MBA/PGDM admission and fee refund