IIT to increase course fee

Indian Institute of Technology, (IIT) is set to increase its fee, following the Indian Institutes of Management (IIM). IIT last revised its fee in 1998. Media reports say that the fee revision in IITs is now going to be frequent.

IIT has seven centres in the country and the annual tuition fee is in the range of Rs 21,000 to Rs 27,000. With the recent hike, the fee is likely to go up to Rs 50,000 for the new batch of the academic year 2008.

Reportedly, since its inception till 1998, the annual fee in the IITs was Rs 500.

This fee is based on a formula wherein a third of the education cost is borne by the students, another third earned by the IITs through activities such as research, gifts and endowments and the rest to be subsidized by the government, according to a media report. The IITs have seen two revisions in the fee structure since the last 50 years.