AICTE fee refund rules not suffice; know how to put forth the claim to the B school

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MBAUniverse.com News Desk |
May 27, 2016
You must be aware how to claim the refund of your deposited MBA admission fee from the adamant B school
B school cannot pressurize you to write only the reason of withdrawal that it wants, you can withdraw your admission for any reason

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.

In fact knowing the AICTE rules of fee refund 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. You must be aware how to claim the refund of your deposited MBA admission fee from the adamant B school.

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.

Admission withdrawal could be for any reason
B-school cannot pressurize you to write only the reason of withdrawal that it wants, you can withdraw your admission for any reason.

I 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 my mind that I do not want to pursue MBA this year and plan to prepare again to get the top B-school next year.

Accordingly now you need to claim the fee refund whether it is the token amount/commitment fee or known by something else. AICTE guidelines share the key information to be included in fee refund claim and accordingly experts at MBAUniverse.com have devised the format of fee refund application.

Don’t get intimidated by B-school tactics
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.

B-schools wouldn’t help you; don’t believe them
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 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.

More withdrawals: If better MBA grabbed
MBA aspirants seeking admission in 2016 are in the process of securing their seat in one B-school by depositing the requisite fee. On getting admission in a better MBA programme 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 the admission applications. If  there are around 3-4 applications every day for admission withdrawal and fee refund, 2-3 applications also happen to be there for admission. All this has to be managed well and tactfully, so you have to keep patience.

B school site: Refund policy may not be visible
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 refuse to co-operate and others may simply ask for the well written application to claim the refund.

Fee Refund letter in 2 copies
MBAUniverse.com shares below 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 2016-17
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)

Get Acknowledgement from 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 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.

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) _____________________   

Important advisory
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 candidates have reported that the institutes have not refunded the fee of even after the lapse of one year from submitting fee refund claim.

Although AICTE is planning to take strict action against such institutes by imposing strict penalty and making these institutes liable for the lapses, do not sit idle and continue knocking the B-school and its authorities for fee refund.  

Related Article

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Stay tuned to MBAUniverse.com for more updates on fee refund as per AICTE norms