Fee Structure Overview
The fee structure for the Finance program at The Institute Of Chartered Financial Analysts Of India University Aizawl is designed to be transparent and comprehensive, covering all essential components required for a quality educational experience. The total cost of the program is approximately 15 lakh rupees over four years, with specific breakdowns provided for each semester.
| Semester | Tuition Fee | Hostel Rent | Mess Advance | Student Benevolent Fund | Medical Fees | Gymkhana Fees | Examination Fees | Total Per Semester |
|---|---|---|---|---|---|---|---|---|
| Semester 1 | 350000 | 80000 | 25000 | 10000 | 5000 | 2000 | 3000 | 475000 |
| Semester 2 | 350000 | 80000 | 25000 | 10000 | 5000 | 2000 | 3000 | 475000 |
| Semester 3 | 350000 | 80000 | 25000 | 10000 | 5000 | 2000 | 3000 | 475000 |
| Semester 4 | 350000 | 80000 | 25000 | 10000 | 5000 | 2000 | 3000 | 475000 |
| Semester 5 | 350000 | 80000 | 25000 | 10000 | 5000 | 2000 | 3000 | 475000 |
| Semester 6 | 350000 | 80000 | 25000 | 10000 | 5000 | 2000 | 3000 | 475000 |
| Semester 7 | 350000 | 80000 | 25000 | 10000 | 5000 | 2000 | 3000 | 475000 |
| Semester 8 | 350000 | 80000 | 25000 | 10000 | 5000 | 2000 | 3000 | 475000 |
The total program cost of 15 lakh rupees includes all components required for a comprehensive educational experience. This structure ensures that students have access to quality education, accommodation, meals, and other essential services throughout their academic journey.
Fee Components Explanation
Each component of the fee structure serves a specific purpose in providing a complete educational experience. Understanding these components helps students and parents make informed decisions about financial planning for the program.
Tuition Fee: The tuition fee covers instruction, academic resources, laboratory access, and administrative services provided by the university. It represents the core cost of education and is essential for maintaining high-quality teaching standards and facilities.
Hostel Rent: Hostel accommodation provides students with a safe, secure, and conducive environment for learning and personal development. The rent covers room maintenance, utilities, security services, and other hostel-related expenses.
Mess Advance: The mess advance covers food services and meal arrangements provided by the university cafeteria. This ensures that students have access to nutritious meals throughout their academic journey.
Student Benevolent Fund: This fund supports students facing financial hardships or special circumstances. It provides assistance for emergency needs, educational expenses, or other unforeseen situations.
Medical Fees: Medical fees cover healthcare services and medical facility access provided by the university's health center. This ensures that students have access to basic medical care during their studies.
Gymkhana Fees: These fees support student activities, sports facilities, and recreational programs. They contribute to maintaining a healthy and active campus environment.
Examination Fees: Examination fees cover the costs associated with conducting regular assessments, evaluations, and final examinations. This includes examination paper preparation, invigilation, and result processing.
Hostel & Mess Charges
The hostel facilities at The Institute Of Chartered Financial Analysts Of India University Aizawl provide students with comfortable and secure accommodation throughout their academic journey. The hostel charges are designed to be reasonable while ensuring high-quality living standards.
There are different room types available to accommodate varying preferences and requirements:
- Single Room: A private room for one student with basic amenities including bed, study table, chair, and wardrobe. Monthly rent is approximately 8000 rupees.
- Double Room: Shared accommodation for two students with similar amenities. Monthly rent is approximately 5000 rupees per person.
- Triple Room: Shared accommodation for three students with basic amenities. Monthly rent is approximately 3500 rupees per person.
The mess billing system operates on a monthly basis, with charges varying based on the type of room and meal preferences. Students can opt for different meal plans including vegetarian, non-vegetarian, or mixed options.
Rebate policies are available for students who do not require hostel accommodation or who have special circumstances. These rebates are processed according to university guidelines and require appropriate documentation.
Fee Waivers, Concessions, and Scholarships
The Institute recognizes the financial constraints faced by many students and provides various fee waiver and concession options to ensure accessibility to quality education.
Eligibility criteria for scholarships are based on academic performance, economic background, and special circumstances:
- SC/ST/PwD Category: Students from SC/ST categories or PwD students receive 100% fee waiver with additional support for books, laboratory fees, and other educational expenses.
- EWS Category: Economically weaker section students receive 50% fee concession based on income criteria of less than 8 lakh rupees per annum.
- MCM (Meritorious Students): Top-performing students with a minimum aggregate of 90% in qualifying examinations receive 75% fee concession and additional benefits including internships and research opportunities.
The application process for financial aid requires submission of relevant documents including income certificates, caste certificates, disability certificates, and academic transcripts. Applications are processed by the finance department with careful scrutiny to ensure fair distribution of support.
Payment Procedures & Refund Policy
The payment procedures for the Finance program follow a structured approach that ensures timely processing and transparency:
- Payment Deadlines: Students must complete fee payments by specified dates each semester to avoid late fees and maintain enrollment status.
- Late Fee Calculations: Late payments attract a penalty of 5% per month on the outstanding amount, with a maximum cap of 20% for any single payment period.
- Refund Rules: Refunds are processed according to university regulations and require approval from the finance committee. Withdrawal requests must be submitted in writing with proper documentation.
Students can make payments through various modes including online banking, NEFT/RTGS transfers, demand drafts, or cash payments at the university's designated payment centers. All transactions are recorded and maintained for transparency and accountability purposes.