AICTE announces PGDM Fee Refund Policy 2024; Last Date, Process, Refund Amount

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SK Agarwal
SK Agarwal
Updated on
July 10, 2024

All India Council for Technical Education (AICTE), the controller of MBA/PGDM and technical education in India which works under the Ministry of HRD, Government of India, has recently changed and revised its fee refund policy on receiving the complaints that many MBA/PGDM colleges are creating problems in refunding the fee to the students as per laid down norms, if they do not take admission in the college and claim the fee refund.


AICTE fee refund policy with key dates and application process is shared below in detail. Read Table of Contents and proceed accordingly.


AICTE Fee Refund Policy 2024-25: Table of Contents

  1. What is AICTE Fee Refund Policy?
  2. AICTE Full Fee Refund Last Date 2024 & Complete Academic Calendar
  3. AICTE Fee Refund 2024: Time Allowed to B-School for Full Fee Refund
  4. How to Cancel PGDM Admission from a B-school?
  5. AICTE Fee Refund Policy: What does it clarify?
  6. Who can Claim Fee Refund? Eligibility Criteria for Fee Refund
  7. Conditions Allowing Fee Refund: AICTE’s Strict Instructions
  8. Can B-School say ‘No’ to Your Fee Refund Claim? May Attract AICTE Ire
  9. Fee Refund in Top Tier B-schools: Refund is Not Delayed
  10. AICTE Fee Refund Rules: Fee Components that are refunded
  11. AICTE Fee Refund Rules: Not Applicable for B-Schools with Admission Closed
  12. Stage wise Fee Refund amount approved by AICTE
  13. Application for Fee Refund: How to Cancel MBA Admission?
  14. No Institute should Pressurize Students
  15. AICTE Fee Refund Claim Application Format: How to Cancel MBA/PGDM Admission?
  16. Decide and Consider Top AICTE Approved MBA Colleges with Admission 2024 Open
  17. When to Apply for Fee Refund?

1. What Is AICTE Fee Refund Policy? Know the key facts

Many candidates who take admission in MBA colleges and later on get admission in some better MBA college remain worried how to withdraw from the present colleges and get the refund of admission fees which they have already deposited.


Providing relief to such students, AICTE announces every year key guidelines How to withdraw your admission and cancel your MBA Admission and How to cancel PGDM Admission and fixes a timeline for the process, without making a hole in your pocket even after making payment of admission fees. If you are not interested to pursue the respective management programme from a B-school and want to withdraw your admission, AICTE announces full fee refund timelines each year. With the streamlining of academic session 2024-25 after three years of Covid pandemic, the AICTE has announced the last date for admission as well as for admission. Along with this, AICTE has also released the process how to cancel MBA admission and how to cancel PGDM admission 2024. During the last three years AICTE has provided great relief to the MBA students and has allowed them to cancel their MBA seat by extending the last date time and again for full fee refund for PGDM/PGCM courses.


2. AICTE Full Fee Refund Last Date 2024 & Complete Academic Calendar

If you wish to withdraw admission 2024-26 from an AICTE approved program with full fee refund, the last date for full fee refund as announced by AICTE is September 11, 2024.This is the last date for PGDM cancellation with full fee refund from an AICTE approved B-school. AICTE Fee Refund Policy offers you the opportunity to apply and get admission in a better MBA/PGDM program without making a hole in your pocket. AICTE revises its Fee Refund Rules in each academic calendar to make it more liberalized to enable the students to explore admission opportunity in a better institute.

aicte fee refund

3. AICTE Fee Refund 2024: Time Allowed to B-School for Full Fee Refund
According to the revised AICTE instructions, a candidate can apply to the institute for seat cancellation and can claim full Fee refund by the last date and the institute is liable to refund the fee in full within 7 days from the date of submission of the Application at the college. As such, AICTE has become more strict on the Fee Refund Norms and has advised the institutes to adhere to the AICTE schedule for Fee refund. AICTE has further tightened its fee refund rules for the MBA/PGDM B-schools for refund of fee. Clause 6.13 of Chapter 6 of AICTE Approval Process Handbook 2024-25 is amended. AICTE fee refund policy now strictly directs the MBA/PGDM colleges as under:

  • In case of applications submitted by admitted students for withdrawal and refund of fee, MBA/ PGDM Institutions shall allow it.
  • Fee refund along with the return of Certificates should be completed within 7 days

4. How to Cancel PGDM Admission from a B-school?
The time lines on submission of application with guidelines on how to cancel MBA admission, Amount deducted and how to cancel PGDM admission with the last dates for Fee Refund are as under:

Component related to Fee Refund
Key Dates as per AICTE Norms
Application Submission Last date for cancellation of PGDM/PGCM 2024-25 seat with full fee refund subject to deduction of Rs.1000/- only
September 11, 2024
Last date for Class Commencement in the AICTE approved PGDM/PGCM college
September 11, 2024
Last Date to Get the Fee Refund from the Institute
7 Days from the Submission of Application
Last date for Admission in PGDM/PGCM courses
September 15, 2024

5. AICTE Fee Refund Policy: What does it clarify?

The AICTE fee refund policy for MBA or other professional course lets you know how much amount of your deposited fee must be refunded by the MBA/PGDM college at different stages after deducting their charges as per AICTE norms for refund of fee 2024.


6. Who can Claim Fee Refund? Eligibility Criteria for Fee Refund
Eligibility criteria for full Fee refund include 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.


7. Conditions Allowing Fee Refund: AICTE’s Strict Instructions
The B-school should refund fee in all situations. AICTE fee refund policy allows your MBA fee refund in either of the two situations:

  • You may withdraw from the MBA-PGDM B-school in which you do not want to study, or
  • You may be switching to another B-school from the present B-school

8. Can B-School say ‘No’ to Your Fee Refund Claim? May Attract AICTE Ire
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. In case of any problem you can write to AICTE.


9. Fee Refund in Top Tier B-schools: Refund is Not Delayed
Although the top tier MBA colleges try to follow strictly the MBA fee refund norms, the 2nd tier or 3rd tier B-schools purposely delay the 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


10. AICTE Fee Refund Rules: Fee Components that are refunded
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.

11. AICTE Fee Refund Rules: Not Applicable for B-Schools with Admission Closed
These guidelines do not apply to the B-schools who have already closed their admission process but with a rider. According to AICTE, “This schedule is not applicable for the institutions who have already completed the admission process and started the classes as per the earlier schedule” and adds further, “However, if such Institutes admit new students against vacancies, then the new schedule of cancellation and fee refund shall be applicable.”


12. Stage wise Fee Refund amount approved by AICTE
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

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 should be refunded including full amount of security deposit, caution money if the request is made before start of academic session.  A deduction of Rs.1000/- towards processing charges will be made by the B-school.
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
Settlement of dispute
Usually the court jurisdiction of the area where the B school is situated is to be exercised. For example if the dispute is with IIM Ranchi, the jurisdiction area will be Ranchi (Jharkhand) 

13. Application for Fee Refund: How to Cancel MBA Admission?
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. 


14. No Institute should Pressurize Students
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.


15. Fee Refund Claim Application Format: How to Cancel MBA/PGDM Admission?
The prescribed format for admission withdrawal and fee refund as per AICTE norms of AICTE for fee refund 2024 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 sets.


Application for withdrawal of admission: Session 2024-25

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)


15.1 Claim 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/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 e-mail of the institute and a copy of the request should also be sent to AICTE.


15.2 After receiving the Fee refund
You are supposed to furnish acknowledgement to the institute on receipt of fee refund cheque/DD 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) _____________________   

15.3 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.

15.4 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 

16. Decide and Consider Top AICTE Approved MBA Colleges with Admission 2024 Open
AICTE Fee refund policy gives the opportunity to apply for MBA/PGDM admission in a better B-school and improve your admission chances without worrying for refund of already deposited fees.  Below is shared a list of some of the best B-schools offering AICTE approved MBA/PGDM programmes which you may consider for admission 2023.

MBA Colleges
( Lakhs)
( Lakhs)
Admission Status
Rajagiri Business School Kochi
Open | Apply Now
Jaipuria Lucknow & Noida
Open | Apply Now
Indus Business Academy - IBA Bangalore
Open | Apply Now
IPE Hyderabad
Open | Apply Now
Chandragupt Institute of Management - CIMP Patna
Open | Apply Now
Delhi School of Business (DSB) Delhi
Open | Apply Now
NTPC School of Business Noida
Open | Apply Now
SCMS Cochin School of Business
Open | Apply Now
MET Mumbai
Open | Apply Now
SOIL Institute of Management
AIMS School of Business (AIMS Institutes)
Open | Apply Now
Jagan Institute of Management Studies (JIMS Rohini) Delhi
Open | Apply Now
New Delhi Institute of Management (NDIM) New Delhi
Open | Apply Now
Sparsh Global Business School, Greater Noida
Open | Apply Now
NSB Academy Bangalore
Open | Apply Now
Jaipuria Institute of Management Jaipur
Open | Apply Now
Manav Rachna Faridabad
Open | Apply Now
IFIM College Bangalore
Open | Apply Now
FIIB Delhi: Fortune Institute of International Business
Open | Apply Now
TAPMI School of Business Jaipur
Rs. 9.51
Rs. 7.19 LPA
Open | Apply Now
Badruka School of Management (BSM) Hyderabad
Rs. 19.50
Open | Apply Now
IIMS Pune: International Institute of Management Studies
Rs. 9.27
Rs. 7.50 LPA
Open | Apply Now
GITAM Visakhapatnam, Hyderabad and Bengaluru 
Rs. 10.18
Rs. 6.00 LPA
Open | Apply Now

The application process for admission 2024 is open in these MBA/PGDM colleges which offer value for money. You can apply to these B-schools based on multiple entrance exam scores. Your best score will be considered by them. 


17. When to Apply for Fee Refund?

Please note that AICTE Fee refund policy is framed to enable you to get admission in a better programme and a better institute without worrying for the refund of fee already deposited in earlier institute. You should apply for fee refund before course commencement, so that you can get the full fee refund from the institute as per AICTE fee refund rules.  Please note that AICTE fee refund rules are applicable for the AICTE approved colleges. So, while cancelling your seat and withdrawing admission from the existing institute, you should ensure that the MBA/PGDM college where you had applied earlier is AICTE approved. This will help you to get your entire fee back with a nominal deduction of Rs.1000.  

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