What if I convert IIMs but don't have enough money to pay the fees?

Trust me if you get into any IIM, banks will be after you to get loans from them. Banks consider an IIM student a good investment and therefore offer educational loans at a very low interest rate. My uncle’s son had cleared CAT and got into IIM Calcutta. He got a loan from a bank at an extremely low interest rate. He had to deposit a demand draft of INR 3,23,050 at the time of the MBA registration process (second week of June). The rate of interest is 8.4%. After MBA, you will be in the 30% tax slab. The interest paid on an education loan is tax-deductible. So, your effective rate of interest is 8.4(1–0.3)=5.88%. This is the cheapest loan one can get in India. So it’s recommended that you take a loan even if you have money. Banks like SBI, CBI, BOI, and PNB will give you loans as high as 30 lakhs without any collateral. Apart from loans, IIM Calcutta also offers a lot of financial assistance to financially weak students. Need-based-scholarships are offered. IIM Calcutta provides Financial Assistance to students whose family income is less than 8 Lakhs. Rather than worrying about money focus more on your goals and academics.

IIM Calcutta Scholarship 2025: Amount, Eligibility, Selection Criteria

Particulars	Scholarships & Awards
PGDM 1st Year	B.P. Poddar Scholarship India Carbon Scholarship T. T. Krishnamachari Award BPL Prize Damodar Valley Corporation Award For Creditable Performance Central Bank of India Prize For Best Performance In Finance Course Aditya Kashyap Memorial Scholarship (for 1st rank holder) P. R. Karthik Scholarship
PGDM 2nd Year	Dr. B. C. Roy Memorial Gold & Silver Medals Chairman's Prize John Wynne Prize
Sponsored Outside Organization	ABC India Award Balmer Lawrie Award Calcutta Management Association Trophy Calcutta Port Trust India Award B. S. Dua Memorial Prize for 2nd Rank holder Magunta Subbarami Reddy Award TIL Scholarship IIMC Alumni Association, Calcutta Chapter Prize IIMC Alumni Association, Calcutta Chapter Award for outstanding Academic Performance in PGDM by Taylor & Francis Book Prize Bengal Chamber of commerce Medal in the area of Human Resource Management Late Sumantra Ghoshal Award for Academic Excellence for receiving highest CGPA at the end of the two-year Post Graduate Programme Aditya Kashyap Memorial Scholarship for receiving highest CGPA

IIM Calcutta offers a two-year MBA program with a tuition fee of approximately Rs. 23-25 lakhs, excluding additional expenses like hostel and mess fees. For financial assistance, the institute provides several scholarships based on merit and need. Notable scholarships include the Aditya Birla Scholarship, OP Jindal Scholarship, and Need-Based Financial Assistance (NBFA) for students with a family income below Rs. 8 lakhs, covering 25% to 100% of tuition fees. The institute also facilitates education loans through tie-ups with banks, offering interest rates of around 8.5% to 10%.

Despite the high fees, the placement rates are excellent, making the return on investment favorable. The institute does not have a fixed fee hike policy, but fees have increased in recent years, with the latest being Rs. 27 lakhs for the 2024-26 batch. Additionally, scholarships from external trusts and organizations, such as the Ratan Tata Trust and Aditya Birla Group, are available. Placements at IIM Calcutta are strong, contributing to the program's attractive ROI.

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Why To Join IIM Calcutta - Reviews & Rating

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Ritik Singh Rana

4.9Helpful

MBA, General

Reviewed on Jan 26, 2025(Enrolled 2024)

MBA In JOKA

Fees and Financial Aid:

The fee is around 27 lakh for the 2024-26 batch, and for the 2023-25 batch, the cost is 25 lakh, so it is increasing. There are several scholarship opportunities here, which are through NSP, Need-Based Scholarship, and other private scholarships Like ( ABG scholarship, etc. ). Eligibility criteria will be published every year.

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Ashok Eshrawan

4.2Helpful

Reviewed on Jun 25, 2024(Enrolled 2024)

College of Dreams

So the total cost of MBA would come upto 27lakhs for hostel and tuition and other than that mess charges would be around a maximum of 2lakhs for 2years, totalling it to a maximum amount of 30 lakhs for the course. The college also provides need based financial assistance which would open in the month of July for students having annual family income less than 7-8lakhs something. The summers here is a bit good averaging about 1.5lakhs per month and also very helpful for freshers because of the number of freshers here making them almost 40%, the average placements are almost 35lpa and the job roles offered are great making it one of the top three colleges in India.

Parmesh Gupta

4.5Helpful

Reviewed on Feb 26, 2024(Enrolled 2019)

Life at IIMC !

Course fees have gone higher and continuously increasing in the last few years. Although very easy educational loans are available at the minimum possible rates. Even though fees is high, the good placements offer a great ROI. For the financially weaker sections, there is provision of NBFA.

Binit Tete

4.4Helpful

Reviewed on Jan 2, 2024(Enrolled 2023)

The Joka Life

IIM Calcutta boasts a top-notch MBA program, but the sticker price can make your wallet wince. The total tuition for the two-year course currently hovers around 25 lakhs (ouch!). But before you cry foul, let's explore the hidden gems: IIMC offers a range of scholarships for academic excellence, covering partial to full tuition fees. Think B.P. Poddar Scholarship for toppers or the India Carbon Scholarship for sustainability crusaders. Need-based: Financial aid like grants and loans are available for students demonstrating financial hardship. No shame in the game! External Sponsorships: Many external organizations offer scholarships for specific groups like women or rural students. Research pays off!

PRIYAM SARPAL

3.8Helpful

Reviewed on May 30, 2023(Enrolled 2021)

IIM Calcutta: Has its pros and cons but you will have the 2 most amazing years of your life!

The fee hike is reducing the affordability of an MBA to a larger section of the population and currently, there is no merit-based scholarship available - however since you will be graduating from one of the top institutes of India and will most likely end up with a high paying job, you can get loans at affordable rates - loans not just cover your MBA fees but loans can be extended for the exchange term that happens in the 2nd year. There are external scholarships that are provided by the government, that can be availed by the students. The placement committee which helps students during the internship and placement cycle also bring live project opportunities where students act as interns and can earn money too while studying, Alongside there are scholarships offered by companies and case competitions organised by companies and other schools which come with a sizeable prize amounts

Anindya Longvah

Reviewed on May 25, 2023(Enrolled 2021)

IIM C: The best MBA experience India has to offer

For my batch, the fees were 23L for the program with hostel and mess charges separate. All in all, we spent anywhere in the range of 25-27L for the course. The cost is high and many students had to take a loan to meet their needs. However, this loan is usually disposed of easily given that the placements here are the best in the country. I did not avail of any financial assistance or scholarship but options for the same are present and are availed by quite a few students. My summer internship was at MX Player where my stipend was 1.5L a month for 2 months.

Anonymous

4.3Helpful

Reviewed on May 25, 2023(Enrolled 2023)

A comprehensive look at IIM Calcutta

Fee hikes are common and our subsequent batch has already seen this happen. There are multiple scholarship programs including a prestigious one offered by the Aditya Birla Group though I am unsure as to the extent/nature of assistance provided by these programs. Working full-time during your academic period is strictly prohibited although live projects and the like are allowed. On-campus jobs are limited to tutorship which you can take up in your second year if you have exemplary grades in a course although these are not done primarily for compensation. The most common method of funding is loans granted by banks such as SBI at very attractive rates which can be paid off in a reasonable timeframe considering the average placements through the program.

Sundeep Samant Singh

3.8

PGDM, Business Analytics

Reviewed on Apr 29, 2023(Enrolled 2020)

Words on life in PGDBA program

Fees structure is high compared with other courses available in the Indian market, however, the business lessons taught in the program distinguish itself from other courses. Financial assistance is available in the form of various scholarships and institutes' own Need-Based Financial Assistance programs.

PRATEEK GONDWAL

Reviewed on Feb 10, 2023(Enrolled 2021)

IIMC is the place to be in

The fee is 23 lacs for the entire 2 years excluding the hostel mess fee. So all in all a sum of around 25 lacs is spent throughout the two years. Financial assistance is provided to the students in need upon satisfying's some criteria. Placements are provided via campus only with a 100% success rate. Several banks have tie-ups with the Institute which provide education loans at an extremely low-interest rate.

RUDRAKSH AGARWAL

5.0Helpful

IIM C - A life changing experience

The fee structure includes everything except mess food, which is handled by the student council and you can pay for what you eat. The institute provides many scholarships and financial assistance from various sources.

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Comments

Found 2 Comments

himanshu yadav

Mar 27, 2024 10:28

What are the fees of IIM Calcutta?

Sweta Kumari

Mar 28, 2024 17:35

IIM Calcutta (Indian Institute of Management Calcutta) is well known for its flagship MBA program and it offers programs in the graduate, executive, and doctoral levels. IIM Calcutta fees for the batch of 2024 is INR 27 Lakhs and the average package stood at INR 35.07 LPA. For the MBAEX program, the fee is INR 31 Lakhs. For the PGPEX-VLM program, the fee is 13.5 Lakhs(Caution Deposit) Payable: 40,000s. For the MBAEX program, the fee is INR 31 Lakhs. For the PGDBA program, the fee is INR 25 Lakhs.

mansi jain

Mar 22, 2024 17:13

Is there any scholarship in IIM Calcutta?

Ashish Ramtari

Mar 23, 2024 07:10

Yes, IIM Calcutta offers a lot of scholarship oppurtunities to the students. The name of major scholarships offered at the IIM Calcutta are mentioned below: