Fee Structure and Financial Planning
Omkarananda Institute Of Management And Technology provides transparent and affordable fee structures to ensure quality education is accessible to all deserving students. The following table outlines the detailed fee structure for the academic year 2023-24, broken down per semester.
| Fee Head | Semester I (INR) | Semester II (INR) | Semester III (INR) | Semester IV (INR) |
|---|---|---|---|---|
| Tuition Fee | 120,000 | 120,000 | 120,000 | 120,000 |
| Hostel Fee | 30,000 | 30,000 | 30,000 | 30,000 |
| Mess Fee | 15,000 | 15,000 | 15,000 | 15,000 |
| Medical Fee | 2,000 | 2,000 | 2,000 | 2,000 |
| Library Fee | 1,000 | 1,000 | 1,000 | 1,000 |
| Development Fee | 5,000 | 5,000 | 5,000 | 5,000 |
| Total | 173,000 | 173,000 | 173,000 | 173,000 |
The total annual fee for the program is approximately 692,000 INR. This structure ensures that students receive a comprehensive education without financial strain.
Hostel and Mess Charges
Omkarananda Institute Of Management And Technology provides comfortable and secure accommodation facilities for students through its hostel system. The hostel charges are inclusive of basic amenities such as electricity, water supply, Wi-Fi, and security.
Hostel Facilities
The hostel accommodations are designed to provide a conducive environment for learning and personal development. Each room houses 2-4 students with shared common areas including study rooms, lounges, and recreational spaces. The hostel management ensures regular maintenance and cleanliness of all facilities.
Mess Charges
The mess charges cover three meals per day, including breakfast, lunch, and dinner. The menu is carefully curated to provide a balanced diet with vegetarian and non-vegetarian options. The mess staff follows strict hygiene protocols to ensure food safety and quality.
Return on Investment (ROI) Analysis
The return on investment for pursuing education at Omkarananda Institute Of Management And Technology is significantly positive, considering the average placement package and career prospects of graduates.
Average Placement Package
Graduates from OIMT have an average starting salary of 650,000 INR per annum. This figure represents a substantial return on the investment made in education, especially when compared to the total cost of tuition and living expenses over four years.
ROI Calculation
To calculate the ROI, we consider the total cost of education over four years (692,000 INR) and compare it with the cumulative income generated by graduates over their first five years of employment.
Assuming an average annual salary of 650,000 INR for the first five years:
- Total Income Over Five Years = 650,000 × 5 = 3,250,000
- Total Cost of Education = 692,000
- Net Profit = 3,250,000 - 692,000 = 2,558,000
- ROI = (2,558,000 / 692,000) × 100 ≈ 369.7%
This calculation demonstrates a significant return on investment, highlighting the value of education at OIMT.
Financial Aid and Support
Omkarananda Institute Of Management And Technology offers various financial aid options to support students from diverse economic backgrounds.
Scholarships
The institute provides merit-based scholarships for top-performing students, as well as need-based financial assistance for economically disadvantaged students. Additionally, several donor and alumni scholarships are available specifically for students in the engineering and management programs.
Payment Options
Students can opt for flexible payment plans to manage their fees over multiple installments. The institution also accepts various forms of payment including credit/debit cards, net banking, and UPI transfers.
Conclusion
The fee structure at Omkarananda Institute Of Management And Technology is designed to be affordable yet comprehensive, ensuring that students receive quality education without financial burden. With a high return on investment and multiple support systems, the institution provides excellent value for money.