If student cancels before admissions close, B-schools have to refund fees: AICTE

As per the rules passed by the technical educational regulator, the institutes offering the postgraduate diploma in management (PGDM) can deduct Rs. 1000 from the fees, if the student wishes to withdraw its admission before the last date of admission.

As per the notice on 14 December, “The rules and regulations will come effectively and immediately in practice”. The notification clearly states that these institutes can admit only the people who qualify through one of six all-India tests—XAT, CAT, MAT, GMAT, CMAT, ATMA—or an entrance test drove by a state government.

There are more than 400 such institutes offering PGDM courses that go under the area of the All India Council for Technical Education (AICTE), including any similarity of XLRI Jamshedpur, SP Jain foundation of Management and Research Mumbai and MDI Gurgaon.

Many of these institutes purportedly decay to refund fees to the students who wish to cancel their admission-stretching out between Rs.3 lakh to over Rs.10 lakh.

As per the new procedure of the AICTE, “The institutes offering the PGDM courses must refund the complete fees after the deduction of Rs.1000 as the processing fees as well as the certificates to the students who cancel their admission before the last date of the admission. The last date for withdrawal of admissions for the purpose of refund of fees shall be 30th June of every year.”

It is clearly mentioned that the duration of the PGDM course is not less than 21 months and the admissions will start at 1st March and will end by 30th June of every year. A senior officer of the AICTE said that “These institute charges lakhs of Rupees and is used to be difficult for the students to transfer if they gets admission somewhere else”. There are a clear-cut strict instructions which need to be followed by every institute.