AICTE fee refund policy: Acquaintance with AICTE rules not enough; know how to claim the fee-refund

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MBAUniverse.com News Desk |
June 15, 2015
Experts at MBAUniverse.com have devised the format of fee refund application as per AICTE guidelines
Get the fee refund application acknowledged by the authorized person at the B school under his signature, date and stamp of the institute

Knowing the rules of fee refund is not enough. You should be aware how to claim the refund of your deposited MBA admission fee from the adamant B school.

 

Don’t be scared of unwarranted problems caused during fee refund process on withdrawing your MBA admission 2015. 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.

 

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.

 

To help the candidates planning to withdraw their MBA admission from not so preferred B school and getting a better B school, experts at MBAUniverse.com have devised the format of  fee refund application as per AICTE guidelines.

 

Number of candidates are facing problems on getting the right format to write fee refund letters and the B schools are far from happy to help them in applying for admission withdrawal and refund of fee. In fact these are the tactics 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.

 

MBA aspirants seeking admission in 2015 secure their seat in one B school by depositing the requisite fee and on getting admission in a better B school they need to go through the situation of admission withdrawal and claim of fee refund. At the time of admission withdrawal, the B schools are flooded with admission withdrawal applications as well as applications seeking MBA/PGDM admission 2015 in the said B schools. There are around 3-4 applications every day in almost all the B schools including a few IIMs where candidates are approaching for admission withdrawal and fee refund.

 

B school site: No Prescribed format

 

In fact the onus to provide the well worded 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 simply ask for the well written application to claim the refund.

 

Write fee refund letter in 2 copies

 

MBAUniverse.com brings forth for the benefit of the students the prescribed format for admission withdrawal and fee refund as per AICTE norms. Please however cross check with the institute whether they have some other format for fee refund.  Application for fee refund/admission withdrawal should be made in 2 copies.
 

Application for withdrawal of admission: Session 2015-17

 

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) __________________________

 

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 fee paid as per the AICTE rules.

 

Thanking You,
Yours faithfully,

 

_________________  
(Signature of the candidate)

 

(Name of the candidate)

 

Acknowledgement by the Institute

 

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, please keep the copy of written application and the postal receipt for your record. 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 20-25 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. 

 

On receipt of refund & original documents

 

The candidate is 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 B school to B school.

 

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) _____________________   

 

AICTE norms for fee refund

 

To read and understand the AICTE guidelines for fee refund, the source is the instructions contained in the AICTE document no. - AICTE / Legal / 04(01) / 2007 of April 2007.
 
Refund will be made for Tuition fee, Development fee and other fee, charged by the institute

 

The refund of fee as applicable shall not inordinately be delayed.

 

Calculate the fee refund amount

 

AICTE clarifies that the refund is to be made after deduction of the cancellation/processing charges detailed as under.

 
Situation of admission withdrawal

  Refund amount

When the request is made before the date of start of the academic session and the institute could fill the seat before the cutoff date from the waitlisted candidates. 
 

Entire fee less by Rs 1000/-. The refund amount should include full amount of security, caution money also

When the request is received on/after the beginning of academic session and the institute could fill the seat before the cutoff date from the waitlisted candidates.
 

Entire fee less the Seat Cancellation Charges on pro rata basis. For calculation of pro-rata basis, 1 month shall be treated as 1 unit.  For example if the candidate  withdraws within a month after the start of academic session and the seat is filled before the cutoff date, the cancellation charges on pro rata basis will be the amount of total fee/12 or Rs.1000/-, whichever is higher.
 

When the request is received before/after the start of the  academic session and the institute could not fill the seat
 

No Refund except security deposit shall be made
 

 

Important advice

 

Please note there are the institutes who even do not publish the fee refund norms on their site despite clear instructions from AICTE. Some of them make the students and their guardians run from pillar to post. Such institutes exist everywhere be it Delhi NCR or other places. Some of the cases have been reported that these institutes have not refunded the fee of the candidates who submitted their admission withdrawal applications way back in August 2014.  Now AICTE is planning to take strict action against such institutes by imposing strict penalty and making these institutes liable for the lapses.  

 

Before taking the admission in the institute, please check the creditability of the B school. Whether the admission process is complete well in time; what’s the wait list? Talk to some alumnus before depositing the fee. Check their past placement.  In case the B school is good, it may have a long list of admission seekers and you may not get any difficulty in fee refund.

 

Stay tuned to MBAUniverse.com for more updates on fee refund