Fee Structure Overview
The fee structure for the Risk Management program at The Institute Of Chartered Financial Analysts Of India University Aizawl is designed to be transparent and comprehensive, covering all aspects of academic and residential life. The total cost for the 4-year program is approximately INR 350,000, which includes tuition fees, hostel charges, mess advance, and other mandatory expenses.
| Fee Component | Amount (INR) Per Semester | Type |
|---|---|---|
| Tuition Fee | 80000 | Recurring |
| Hostel Rent | 30000 | Recurring |
| Mess Advance | 25000 | One-time |
| Student Benevolent Fund | 1000 | Recurring |
| Medical Fees | 2000 | Recurring |
| Gymkhana Fees | 1500 | Recurring |
| Examination Fees | 3000 | Recurring |
| Total Per Semester | 142500 | - |
| Total For 4 Years | 570000 | - |
The total fee structure for the entire program is approximately INR 570,000, with each semester costing around INR 142,500. This comprehensive fee covers all academic and residential expenses associated with the program.
Fee Components Explained
Tuition Fee
The tuition fee of INR 80,000 per semester covers all aspects of academic instruction, including lectures, laboratory sessions, library access, and digital resources. This fee ensures that students have access to high-quality educational facilities and faculty expertise throughout their academic journey.
Hostel Rent
The hostel rent of INR 30,000 per semester provides accommodation for students within the university campus. The hostel facilities include modern amenities such as air conditioning, internet connectivity, laundry services, and 24-hour security. Students can choose from various room types based on their preferences and budget.
Mess Advance
The mess advance of INR 25,000 is a one-time charge that covers the initial meal expenses for the first semester. This advance is adjusted against actual mess charges during the semester, ensuring that students have sufficient funds for their dining needs.
Student Benevolent Fund
The Student Benevolent Fund of INR 1,000 per semester supports various welfare activities and initiatives for students in need. The fund provides assistance with medical emergencies, academic support, and other unforeseen circumstances that may affect a student's academic journey.
Medical Fees
The medical fees of INR 2,000 per semester cover access to the university's medical facilities, including consultations, diagnostic tests, and basic treatments. Students have access to qualified medical professionals and emergency healthcare services during their stay at the university.
Gymkhana Fees
The Gymkhana fees of INR 1,500 per semester support recreational activities and sports facilities available on campus. These fees contribute to maintaining gymnasiums, sports grounds, and other recreational amenities that promote physical fitness and overall well-being.
Examination Fees
The examination fees of INR 3,000 per semester cover all aspects of academic assessment, including examination conduct, result processing, and transcript issuance. These fees ensure that students have access to a fair and transparent evaluation system.
Hostel & Mess Charges
Room Types
The university offers various room types in its hostel facilities, accommodating different preferences and budgets:
- Single Occupancy Room: INR 30,000 per semester with individual amenities and privacy.
- Double Occupancy Room: INR 25,000 per semester for two students sharing a room.
- Triple Occupancy Room: INR 20,000 per semester for three students sharing a room.
- Four Occupancy Room: INR 18,000 per semester for four students sharing a room.
Each room type includes basic amenities such as beds, study tables, wardrobes, and internet connectivity. The university ensures that all hostel facilities meet high standards of comfort and safety.
Mess Billing System
The mess billing system is designed to be transparent and convenient for students:
- Monthly Billing: Students are billed monthly for their meal expenses based on consumption.
- Advance Payment: The initial mess advance of INR 25,000 covers the first month's expenses.
- Adjustment System: Monthly bills are adjusted against the initial advance, ensuring that students only pay for actual consumption.
- Meal Options: The mess offers a variety of vegetarian and non-vegetarian meal options to cater to diverse preferences.
Rebate Policies
The university has established rebate policies for various circumstances:
- Leave Rebat: Students on leave are entitled to rebates on hostel charges based on the duration of their leave.
- Medical Leave: Students with medical certificates are eligible for full or partial rebates on hostel and mess charges.
- Financial Hardship: Students facing financial difficulties can apply for partial rebates through the university's financial aid system.
Fee Waivers, Concessions, and Scholarships
Eligibility Criteria
The university offers various fee waivers, concessions, and scholarships to deserving students based on specific criteria:
- SC/ST/PwD Category: Students belonging to SC/ST or PwD categories are eligible for 100% fee waiver with income slabs up to INR 2,00,000 per annum.
- EWS Category: Students from EWS category are eligible for 50% fee concession with income slabs up to INR 4,00,000 per annum.
- MCM (Meritorious Children of Meritorious Parents): Students whose parents have achieved exceptional academic or professional excellence are eligible for 25% fee concession.
Benefits and Application Process
The application process for fee waivers, concessions, and scholarships involves:
- Document Submission: Students must submit relevant documents such as caste certificates, income certificates, and proof of meritorious parentage.
- Verification: The university verifies all submitted documents to ensure authenticity and eligibility.
- Approval: Approved applications are processed for fee concessions or waivers based on the specific category and income slabs.
- Notification: Students receive notifications regarding their approval status and the applicable benefits.
The university's financial aid system is designed to ensure that no meritorious student is deprived of education due to financial constraints, promoting equal access to quality education for all students regardless of their economic background.
Payment Procedures & Refund Policy
Payment Deadlines
Students must adhere to the specified payment deadlines for each semester:
- First Semester: Payment due by 15th August 2025.
- Second Semester: Payment due by 15th February 2026.
- Third Semester: Payment due by 15th August 2026.
- Fourth Semester: Payment due by 15th February 2027.
Late payments will incur additional fees as per the university's policy, and students must ensure timely payment to avoid any academic disruptions.
Late Fee Calculation
The late fee calculation for fee payments is as follows:
- 1-7 days late: INR 1000 per day.
- 8-15 days late: INR 2000 per day.
- More than 15 days late: INR 3000 per day plus additional processing fee of INR 500.
The university encourages prompt payment to avoid any inconvenience and maintains a transparent system for late fee calculations.
Refund Policy
The refund policy for the Risk Management program is designed to ensure fairness and transparency:
- Withdrawal Before Admission: Full refund of all fees if withdrawal occurs before admission confirmation.
- Withdrawal Within 15 Days: 90% refund of tuition fee and full refund of other charges if withdrawal occurs within 15 days of admission.
- Withdrawal After 15 Days: 70% refund of tuition fee and 50% refund of other charges if withdrawal occurs after 15 days but before the completion of the first semester.
- Withdrawal After First Semester: No refund of tuition fees, but partial refund of other charges based on usage.
The university's refund policy ensures that students are treated fairly in case of withdrawal while maintaining financial stability for the institution.