Fee Structure and Financial Planning
The Institute Of Chartered Financial Analysts Of India University Aizawl maintains a transparent and comprehensive fee structure for the International Business program, designed to ensure quality education while being accessible to deserving students from diverse economic backgrounds.
Annual Fee Structure
The total annual fee for the International Business program is structured across multiple components to cover various aspects of student life and education:
| Fee Component | Amount (INR) | Frequency |
|---|---|---|
| Tuition Fee | 3,00,000 | Per Semester |
| Hostel Rent | 40,000 | Per Semester |
| Mess Advance | 20,000 | Per Semester |
| Student Benevolent Fund | 5,000 | Per Semester |
| Medical Fees | 3,000 | Per Semester |
| Gymkhana Fees | 2,000 | Per Semester |
| Examination Fees | 1,000 | Per Semester |
| Total Annual Fee | 4,71,000 | Per Year |
Detailed Fee Components
Each component of the fee structure serves a specific purpose in supporting student education and campus life:
Tuition Fee
The tuition fee covers instruction costs, laboratory facilities, library resources, and academic support services. This fee ensures access to quality educational resources and experienced faculty members who maintain high academic standards.
Students receive comprehensive course materials, access to digital libraries, and support for research activities. The tuition fee also includes access to career development services, industry networking events, and guest lectures by renowned professionals.
Hostel Rent
The hostel accommodation provides a safe and conducive environment for learning and personal growth. The rent covers maintenance of dormitory facilities, security services, and common area management.
Students can choose from different room types based on their preferences and budget considerations:
- Semi-Deluxe Rooms (2-3 persons per room)
- Deluxe Rooms (1-2 persons per room)
- Executive Rooms (Single occupancy)
Mess Advance
The mess advance covers food expenses for the semester and ensures that students have access to nutritious meals throughout their academic journey. The mess system operates on a monthly billing cycle with advance payments required at the beginning of each semester.
Meal plans are designed to provide balanced nutrition with varied menu options that cater to different dietary preferences. The mess charges include breakfast, lunch, and dinner facilities for all students.
Student Benevolent Fund
This fund supports students facing financial hardships or emergencies during their academic journey. Contributions from this fund help address unexpected expenses related to medical emergencies, family crises, or other urgent situations.
The fund operates on a need-based basis and provides assistance to eligible students through a transparent application process that ensures fair distribution of resources.
Medical Fees
Medical fees cover access to campus health services, including general consultations, emergency care, and preventive healthcare programs. Students have access to qualified medical professionals who provide timely healthcare support.
The Institute maintains modern medical facilities with well-equipped laboratories and adequate staffing to ensure quality healthcare services for all students.
Gymkhana Fees
Gymkhana fees support campus recreational activities, sports facilities, and extracurricular programs that contribute to holistic student development. These fees ensure access to fitness centers, sports equipment, and organized recreational activities.
Students can participate in various sports events, fitness programs, and cultural activities that enhance their overall educational experience and personal growth.
Examination Fees
Examination fees cover the costs associated with conducting assessments, evaluating student performance, and maintaining academic standards. These fees ensure proper evaluation processes and quality assurance in academic outcomes.
Hostel & Mess Charges
The Institute's hostel and mess facilities are designed to provide students with comfortable living conditions while maintaining affordability:
Hostel Room Types
Students can choose from various room types based on their preferences and budget considerations:
| Room Type | Occupancy | Monthly Rent (INR) | Facilities Included |
|---|---|---|---|
| Semi-Deluxe | 2-3 persons | 15,000 | Bed, Study Table, Wardrobe, AC, WiFi |
| Deluxe | 1-2 persons | 20,000 | Private Room, Bed, Study Table, Wardrobe, AC, WiFi, Balcony |
| Executive | Single occupancy | 30,000 | Private Room, Bed, Study Table, Wardrobe, AC, WiFi, Balcony, Attached Bath |
Mess Billing System
The mess billing system operates on a monthly cycle with advance payments required at the beginning of each semester. Students receive detailed bills that include meal charges, additional service fees, and any adjustments for missed meals.
The billing process includes:
- Monthly meal charges based on consumption
- Service charges for food preparation and maintenance
- Additional charges for special dietary options
- Rebate policies for students with specific needs
Rebate Policies
The Institute offers various rebate policies to support students during different circumstances:
- Medical Leave Rebate: 50% rebate on mess charges for up to 15 days of medical leave
- Academic Leave Rebate: 25% rebate on hostel and mess charges for academic leave up to one month
- Financial Hardship Rebate: Full rebate on hostel charges for students with verified financial hardship
Fee Waivers, Concessions, and Scholarships
The Institute provides comprehensive financial assistance programs to ensure that deserving students from all economic backgrounds can access quality education:
Scholarship Categories
Several scholarship schemes are available for students based on academic merit, financial need, and other criteria:
| Scholarship Category | Eligibility Criteria | Benefits |
|---|---|---|
| Merit Scholarship | Top 5% rank in qualifying examination | 100% fee waiver for one year |
| SC/ST/PwD Scholarship | Caste certificate or PwD certificate | 50% fee concession for entire program |
| EWS Scholarship | Economically Weaker Section certificate | 25% fee concession for entire program |
| MCM Scholarship | Married children of government employees | 10% fee concession for entire program |
| Need-Based Scholarship | Verified financial hardship certificate | Upto 50% fee concession based on need |
Application Process
The scholarship application process involves submission of required documents along with academic records and verification by the Institute's scholarship committee:
- Application form submission through official website
- Document verification by designated authorities
- Review by scholarship committee
- Notification of approved scholarships
- Disbursement of financial assistance
Payment Procedures & Refund Policy
The Institute follows a structured payment procedure to ensure timely fee collection and proper documentation:
Payment Deadlines
Students are required to make payments within specified deadlines to avoid late fees and maintain academic standing:
- Semester fees must be paid before the start of the semester
- Hostel charges are due at the beginning of each month
- Mess advance payments are required at the beginning of each semester
Late Fee Calculations
Late fees are calculated based on the number of days delayed beyond the deadline:
- For hostel charges: 100 INR per day for delays exceeding 5 days
- For mess advance: 50 INR per day for delays exceeding 3 days
- For tuition fees: 200 INR per day for delays exceeding 7 days
Refund Rules
The Institute follows strict refund rules in case of withdrawal or discontinuation:
- Full refund is provided if withdrawal occurs within 15 days of admission
- 75% refund for withdrawals between 16-30 days
- 50% refund for withdrawals between 31-60 days
- No refund after 60 days of admission
The refund process includes verification of academic records, hostel clearance, and completion of all necessary formalities before disbursement of funds.