Now students can study without Paying Fee in IIT Kharagpur
“Learn – Earn –Return” a new program was initiated by IIT Kharagpur, one of the prestigious educational institutes of India. Having made many scholars and well-talented people the IIT is suffering from lack of Funds due to budget cuttings made by Govt of India.
To relieve themselves from the financial crisis, the Indian Institute of Technology, Kharagpur has decided to opt for this new scheme to raise funds.According to the “Learn-Earn-Return Fund” campaign, Students would get a fee waiver if they pledge to donate money after getting a job. If the student agrees to this condition, he/she will get a fee waiver from the IIT, so that they can learn for free without having any financial burden on them.
Partha Pratim Chakrabarti, Director of IIT Kharagpur, said that “We have asked the students to give a minimum of Rs 10,000 per year after they get jobs. Even if 30,000 of our alumni give the minimum amount, then we will raise Rs 30 crore a year. If the alumni start contributing, then we will be able to build a new model. Even the Harvard University gets 60 percent of its budget from alumni”.
Due to the massive cuts made by the HRD ministry, the IIT was in an idea of raising the funds on its own. So they had initiated this new program. Under this scheme, the institute will provide Scholarships/Fee waiver basing upon the merit and financial background of the students. Merit Students with best Academic profile shall be awarded full a fee waiver.
Officials of IIT said that newly admitted students below 100 ranks could also avail this facility. The funding amount will be varied depending on the semester wise performance of the student.
Students, who want to adopt this scheme should take an Honour Pledge to give back in the “Lean-Earn-Return Fund” after getting a job and settled in their career.Officials said that “The collected funds shall be used to support economically backwards students and partially to build a corpus to ensure self-sustainability of the scheme.”
Govt of India had recently increased the annual fees of under-graduation courses from 90,000 to 2 Lakhs. The increased fee would be official from this academic session.