Hike in fees charged for providing management education seems to be the new buzzword. Last year some IIM's had upped the fees to aorund 10 Lakhs for the two year course. IIM Kolkata has announced rise in fees to around 9-9.5 L.
The trend seems to have percolated to the next level too. Narsee Monjee is all set to hike the fees to " atleast 8 Lakhs" in the words of the admission office !
When i told my mom about this trend, she was shell shocked. Her first reaction was,families like ours would never be able to afford MBA. This simply echoed my own thoughts. For me it seems impossible for a candidate like me to do MBA. I couldn't even think of doing engineering because at that time we couldn't even afford that. For that prime reason i took up commerce. Commerce stream was offering the cheapest courses. Later after post graduation i took up a part-time management course offered by Mumbai University. I had to drop out after first year as i couldn't even afford the 2nd year fees of Rs 15 k.
For the current fees of MBA(2007-09) in Narsee Monjee which is around 3.5 L for 2 years, i had to run from pillar to post. MY loan application was rejected by all banks applied to. My cousin gave me the money at the last minute and hence i could do MBA. 8 -9 lakhs for education is simply not within my range.
2 years ago HRD ministry had tried to take over control of the IIM management board to thrust OBC quota down the country's throat. The intention was serpentine. And i was revolted. But now it seems that the government needs to step in. If not for reduction of fees, atleast for making sure that the deserving candidates do get loan for pursuing higher education. If not, MBA will become the domain of the deserving candidates of the well-to-do & rich class only. There is then a fundamental flaw in the system, because education has always been the only hope for the rest of the classes to get out of the circle of deprivation. If that is snatched away from us, then we will lose our only hope.
The trend seems to have percolated to the next level too. Narsee Monjee is all set to hike the fees to " atleast 8 Lakhs" in the words of the admission office !
When i told my mom about this trend, she was shell shocked. Her first reaction was,families like ours would never be able to afford MBA. This simply echoed my own thoughts. For me it seems impossible for a candidate like me to do MBA. I couldn't even think of doing engineering because at that time we couldn't even afford that. For that prime reason i took up commerce. Commerce stream was offering the cheapest courses. Later after post graduation i took up a part-time management course offered by Mumbai University. I had to drop out after first year as i couldn't even afford the 2nd year fees of Rs 15 k.
For the current fees of MBA(2007-09) in Narsee Monjee which is around 3.5 L for 2 years, i had to run from pillar to post. MY loan application was rejected by all banks applied to. My cousin gave me the money at the last minute and hence i could do MBA. 8 -9 lakhs for education is simply not within my range.
2 years ago HRD ministry had tried to take over control of the IIM management board to thrust OBC quota down the country's throat. The intention was serpentine. And i was revolted. But now it seems that the government needs to step in. If not for reduction of fees, atleast for making sure that the deserving candidates do get loan for pursuing higher education. If not, MBA will become the domain of the deserving candidates of the well-to-do & rich class only. There is then a fundamental flaw in the system, because education has always been the only hope for the rest of the classes to get out of the circle of deprivation. If that is snatched away from us, then we will lose our only hope.
