As per the Report of the Sub Committee constituted by the Council of IITs, the estimated average expenditure per student in the Indian Institutes of Technology (IITs) is Rs 5.2 lakh per year.
However, there will be a total fee waiver for the differently-abled and students belonging to the Scheduled Castes, the Scheduled Tribes and weaker sections, reported The Hindu.
Sources further claimed that students belonging to families whose annual income is less than Rs 1 lakh will be able to get full fee waiver, along with those belonging to the Scheduled Castes and the Scheduled Tribes and the differently-abled.
The students belonging to families with an annual income less than Rs 5 lakh will be entitled to a waiver of two-thirds of the tuition fee, irrespective of their category. The rest of the students who do not fall under any of these categories will be helped with loans to fund their education, the IIT officials said.
Against the IIT expenditure of Rs 5.2 lakh per year, the fee charged from under graduate students is Rs 2 lakh per year, with provision of full fee waiver in respect of SC/ST/PH students, most economically backward students whose family income is less than Rs.1 lakh per annum; and two-third fee remission to other economically backward students whose family income is between Rs.1 lakh to 5 lakh per annum.
So far as Indian Institutes of Management (IIMs) are concerned, no subsidy and fee waiver is provided in these Institutes.