Fee Structure Overview
The total fee for the Bachelor of Mechanical Engineering program at Iasscom Fortune Institute of Technology is approximately 800,000 INR for the entire duration of four years. This includes tuition fees, hostel charges, mess advance, and other miscellaneous expenses.
| Semester | Tuition Fee (INR) | Hostel Rent (INR) | Mess Advance (INR) | Student Benevolent Fund (INR) | Medical Fees (INR) | Gymkhana Fees (INR) | Examination Fees (INR) | Total (INR) |
|---|---|---|---|---|---|---|---|---|
| Semester 1 | 200000 | 80000 | 30000 | 5000 | 3000 | 2000 | 2000 | 322000 |
| Semester 2 | 200000 | 80000 | 30000 | 5000 | 3000 | 2000 | 2000 | 322000 |
| Semester 3 | 200000 | 80000 | 30000 | 5000 | 3000 | 2000 | 2000 | 322000 |
| Semester 4 | 200000 | 80000 | 30000 | 5000 | 3000 | 2000 | 2000 | 322000 |
| Semester 5 | 200000 | 80000 | 30000 | 5000 | 3000 | 2000 | 2000 | 322000 |
| Semester 6 | 200000 | 80000 | 30000 | 5000 | 3000 | 2000 | 2000 | 322000 |
| Semester 7 | 200000 | 80000 | 30000 | 5000 | 3000 | 2000 | 2000 | 322000 |
| Semester 8 | 200000 | 80000 | 30000 | 5000 | 3000 | 2000 | 2000 | 322000 |
Detailed Fee Components
- Tuition Fee: Covers instruction, access to learning resources, and administrative costs. It remains constant throughout the program.
- Hostel Rent: Includes accommodation in campus hostels with shared or private rooms. Rates vary depending on room type and amenities.
- Mess Advance: Prepaid monthly charges for meals provided by the institute's mess facility.
- Student Benevolent Fund: A small annual contribution towards student welfare and support services.
- Medical Fees: Covers basic healthcare services, including consultations, medicine distribution, and emergency care.
- Gymkhana Fees: Supports sports and recreational activities on campus, including gym access and participation in events.
- Examination Fees: Covers costs associated with conducting internal and external examinations, as well as result processing.
Hostel & Mess Charges
Students are housed in comfortable hostels equipped with modern amenities. Room types include single, double, triple, and quad occupancy options, each offering varying levels of comfort and privacy.
The mess facility provides nutritious meals at affordable rates. Billing is done monthly, and students can opt for either full-board or half-board plans based on their preference. Rebate policies are available for students who do not require full board, allowing partial refunds based on usage.
Fee Waivers, Concessions, and Scholarships
The institute offers various financial aid options to deserving students:
- SC/ST/PwD Category: Eligible students receive a 100% waiver on tuition fees and concessions on hostel charges.
- EWS Category: Students from economically weaker sections receive up to 50% reduction in tuition fee and partial concession on other charges.
- MCM (Minority Community): Eligible students may receive a 25% discount on tuition fees.
Applications for these schemes must be submitted along with supporting documents such as income certificates, caste certificates, and disability certificates. The selection process is based on verified documentation and financial need.
Payment Procedures & Refund Policy
Fees can be paid online via net banking, credit/debit cards, or through the institute's dedicated portal. Payment deadlines are strictly enforced, with late fees applied after 15 days of the due date.
In case of withdrawal from the program, refunds are processed according to the refund policy outlined by the institute. Refunds are subject to deductions for administrative costs and any outstanding dues. Students must submit a formal application along with necessary documentation to initiate the refund process.