IPMAT Fee Structure and Scholarship 2024 [IIM Indore & IIM Rohtak]

Author : Palak Khanna

Updated On : February 5, 2024

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Summary: Explore the IIM IPMAT fee structure and scholarships for IIM Indore's IPM program, a prestigious management course for post-10+2 students. Uncover details about IPMAT 2024 fees, financial assistance options, and how you can afford this esteemed program. Dive in to learn more about making your management education dreams a reality!

The Integrated Program in Management (IPM) is one of the most prestigious, with significant courses for students who have just completed their 10 + 2 grade and are looking for a good career option in management.
IPM was first launched by IIM Indore in 2011.

When discussing integrated programs, the common perception is often BBA + MBA. However, it's noteworthy that IIM Indore does not provide a BBA program; instead, it offers a UG program known as B.A Foundations in Management.

Admission to the IPM programs depends on the score and performance of the candidate in the Integrated Program in Management Aptitude Test (IPMAT). 

It's a 5-year full-time integrated course in management (B.A Foundation in Management), and this year, around 25,000 students will appear for the IPMAT exam for 120 seats in IIM Indore.

So, do you get any scholarships to study at IIMs? What is the fee structure of IIM Indore for IPM program? Is it affordable to study at IIMs? 

The article answers all details about the IIM IPM fee structure or IIM IPMAT fees with different scholarship programs offered.

IPMAT Fees: IIM Indore (UG+PG):

Indian students will have to pay 17,05,133 for the first three years of UG program (B.A Foundation in Management).
For the remaining 4th and 5th year of IPM (MBA), you will have to pay 21,17,158.

Let's understand IIM IPMAT fees with more details via the following table:

YEARS  Fees for IPMAT
1st Year  6,04,711/- 
2nd Year  5,54,711/- 
3rd Year  5,54,711/- 
4th Year  11,04,711/- 
5th Year  10,12,511/- 
Grand Total  38,31,355/- 

Check: IPMAT Application Form 2024

The fees of IPMAT exam or IIM Indore IPM fee structure for students who belong outside the country, i.e., international applicants, must pay 5569355/- for all the 5 years. 

  • The fourth and fifth year IPMAT fees will be the same as per the students taking Postgraduate Program in Management (PGP).
  • The fee the students will pay for their PGP program is the same one you will also pay at that time. 
  • The course fees include all the other facilities fees, like lodging, access to lecturers, internet facility, and library.
  • The fees also include accommodation fees as well.
  • For the first 3 years, IIM Indore provides accommodation to the students on a sharing basis; for the last 2 years, i.e., fourth and fifth years, they provide single-room accommodation.

View the document below for the exact IPMAT fees in IIM Indore in the official Brochure.

Know more: Short tricks to prepare for the IPMAT exam from class 11

IPMAT Scholarship Program

The Scholarship Program offered at the college is given below: 

Need-Based Financial Assistance (NBFA)

The Need-Based Financial Assistance (NBFA) is a scholarship scheme in which each and every shortlisted student can avail themselves.

The main objective of the Need-Based Financial Assistance (NBFA) at IIM Indore is to ensure that no participant is deprived of education at the institute for financial reasons.

This scholarship scheme has been running for many years by the IIM Indore.

Also, note that the coaching centre of SuperGards is offering an AISAT scholarship; you can get a discount for IPM Coaching 2024

Also, be sure to take mock tests to know where you stand with your IPMAT preparations. 

ipmat online coaching

ipmat online coaching

  • Shortlisted candidates of Post Graduate Program in Management (PGP), Integrated Program in Management (IPM), and Post Graduate Program in Human Resource Management (PGPHRM) programs are eligible to participate in the Need-Based Financial Assistance (NBFA) scholarship program offered by the IIM Indore.
  • The students whose family income this year is less than or equal to Rs. 9,00,000/- are eligible to apply for this financial assistance given by IIM Indore. If your family income is more than Rs. 9,00,000/- this year, you are not eligible for this financial aid.
  • The NBFA Committee undertakes a two-step process for deciding the number of awardees and the quantum of assistance. 
  • The financial assistance offered will be capped at an amount equal to or close to the interest that accrues to a participant's loan account if he/she avails of an educational loan (for the period he/she is in IIM Indore). 
  • The actual NBFA awarded would be a percentage of the above maximum amount depending on the family income and movable assets held by the family. Disciplinary records of the participants will also be considered while awarding NBFA.

Read more: Right time to start preparing for the IPMAT exam

NBFA Process

The IIM Indore IPM Fee Structure and Scholarship offered by the IIMs have special processes that every student needs to follow.

Here is how you can access the IPM Fee Structure and Scholarship from IIM Indore-

  • In the first stage, the participant's financial needs will be assessed by evaluating the application submitted by the participants. 
  • Based on the assessment at stage I, some participants are called for personal interaction with the NBFA Committee in the second stage. 
  • During this interaction, NBFA Committee will evaluate the participant's financial need and check the correctness of the details provided by the participant in the application. 
  • Applicants will be provided financial assistance based on the evaluation at stages I and II.

Know more: IPMAT Participating Colleges List 2024

NBFA Amount for Current Financial Year

NBFA (Need-based Financial Assistance) scheme provides financial assistance based on the family income and the family's movable assets.

The below table will show all the details regarding that.

S No. Family annual Income from all sources per annum Rs. Any other condition which will be considered before sanction and render the participant ineligible NBFA educational loan interest reimbursement Other Benefits
1. Up to Rs. 4,50,000/- Movable assets like FDs / shares above Rs.10,00,000 and car ownership.
Ownership of any asset, not more than 600 sq. ft.
100% of the interest reimbursement of the educational loan amount actually withdrawn from the bank for paying the fees to IIM Indore. Rs.4,500 /- monthly for 10 months towards mess fee reimbursement in a year. Or Rs.1,000 /- per month reimbursed for internet connection if not on campus due to Covid -19 situation.
2. Rs. 4,50.001/- to 9,00,000/-  Ownership of building not more than 600 sq. ft.
Movable assets like FDs / shares above Rs.10,00,000 and car ownership.
50% of the Interest reimbursement of the educational loan amount actually withdrawn from the bank for paying the fees to IIM Indore.  NIL

Check: IPM Indore Fee Structure 2024

IPMAT mock test

IPMAT Mock test

Check: IPMAT Study Plan 2024

Other Scholarship Programs in IIM Indore

1. Central Sector Scholarship for SC/ST Students-  

  • This scholarship is awarded to students whose parents’ annual income in the previous financial year is less than INR 4,50,000.  
  • It covers tuition fee, other non-refundable charges, lodging & boarding charges, books & stationery charges, the cost of IT equipment for the first year by means of reimbursement. 

2. Minority Welfare Scholarship (Merit-cum-Means)-

  • This scholarship is awarded by the Ministry of Minority Affairs, Govt. of India to those students whose family income does not exceed INR 2,50,000 per annum. 

3. Post matric scholarship for minorities -  

  • In this, you can get full fee reimbursement for IIM Indore. 

Know more: IPMAT Education Loan and scholarship Details 2024

Other Scholarships Offered by Private Corporations- 

1. Aditya Birla Scholarship- 

  • This scholarship is awarded to academically strong students in the first year, and they can continue receiving it in the second year as well if they are among the top 25 students as per the CGPA for the first year.  
  • 1 or 2 students may receive this scholarship.  
  • The amount received will be INR 1,75,000 per year. 

2. OPJEMS Scholarship- 

  • Top 20 students from the second year based on the CGPA of their first year are eligible to apply for this scholarship.  
  • They are required to clear a written test and sit for a personal interview. 1 or 2 students may receive this scholarship. The amount received will be INR 1,25,000. 

3. State Bank of India Scholarship-

  • This is a merit-based scholarship provided by the SBI on a yearly basis, provided there is a student who qualifies for it.  
  • The amount given is INR 1,50,000. 

4. Eicher Scholarship- 

  • This is a merit-based scholarship awarded for the sum of INR 50,000 every year to a deserving student. 

All these scholarships are valid for 5-year integrated course for almost all IIMs.

Know more: IIM IPM Indore Course 2024

Conclusion

IPM is costly; you must not blindly opt for it without knowing the IPMAT Fee Structure and Scholarship programs. The IPMAT coaching fees are very high compared to all other colleges. However, every bank offers loans at lower interest rates. Lastly, scholarship programs allow students to pursue their dreams regardless of their financial circumstances.

Read more: Preparing strategy for IMPAT

Frequently Asked Questions

What is the definition of Family as per NBFA?

What are the required documents to be submitted for earning members?

What is the fee structure of the IPM program offered by the IIM Indore for Indian citizens only?

What is the fee structure of the IPM program offered by the IIM Indore for International applicants?

How many applicants appeared this year for the IPMAT entrance examination conducted by the IIM Indore?

Can I avail of a scholarship if I belong to a reserved category?

What factors are considered for awarding scholarships for IPMAT?

Is there any scholarship available for IPMAT students?

IPMAT Fee Structure and Scholarship 2024 [IIM Indore & IIM Rohtak]

Author : Palak Khanna

February 5, 2024

SHARE

Summary: Explore the IIM IPMAT fee structure and scholarships for IIM Indore's IPM program, a prestigious management course for post-10+2 students. Uncover details about IPMAT 2024 fees, financial assistance options, and how you can afford this esteemed program. Dive in to learn more about making your management education dreams a reality!

The Integrated Program in Management (IPM) is one of the most prestigious, with significant courses for students who have just completed their 10 + 2 grade and are looking for a good career option in management.
IPM was first launched by IIM Indore in 2011.

When discussing integrated programs, the common perception is often BBA + MBA. However, it's noteworthy that IIM Indore does not provide a BBA program; instead, it offers a UG program known as B.A Foundations in Management.

Admission to the IPM programs depends on the score and performance of the candidate in the Integrated Program in Management Aptitude Test (IPMAT). 

It's a 5-year full-time integrated course in management (B.A Foundation in Management), and this year, around 25,000 students will appear for the IPMAT exam for 120 seats in IIM Indore.

So, do you get any scholarships to study at IIMs? What is the fee structure of IIM Indore for IPM program? Is it affordable to study at IIMs? 

The article answers all details about the IIM IPM fee structure or IIM IPMAT fees with different scholarship programs offered.

IPMAT Fees: IIM Indore (UG+PG):

Indian students will have to pay 17,05,133 for the first three years of UG program (B.A Foundation in Management).
For the remaining 4th and 5th year of IPM (MBA), you will have to pay 21,17,158.

Let's understand IIM IPMAT fees with more details via the following table:

YEARS  Fees for IPMAT
1st Year  6,04,711/- 
2nd Year  5,54,711/- 
3rd Year  5,54,711/- 
4th Year  11,04,711/- 
5th Year  10,12,511/- 
Grand Total  38,31,355/- 

Check: IPMAT Application Form 2024

The fees of IPMAT exam or IIM Indore IPM fee structure for students who belong outside the country, i.e., international applicants, must pay 5569355/- for all the 5 years. 

  • The fourth and fifth year IPMAT fees will be the same as per the students taking Postgraduate Program in Management (PGP).
  • The fee the students will pay for their PGP program is the same one you will also pay at that time. 
  • The course fees include all the other facilities fees, like lodging, access to lecturers, internet facility, and library.
  • The fees also include accommodation fees as well.
  • For the first 3 years, IIM Indore provides accommodation to the students on a sharing basis; for the last 2 years, i.e., fourth and fifth years, they provide single-room accommodation.

View the document below for the exact IPMAT fees in IIM Indore in the official Brochure.

Know more: Short tricks to prepare for the IPMAT exam from class 11

IPMAT Scholarship Program

The Scholarship Program offered at the college is given below: 

Need-Based Financial Assistance (NBFA)

The Need-Based Financial Assistance (NBFA) is a scholarship scheme in which each and every shortlisted student can avail themselves.

The main objective of the Need-Based Financial Assistance (NBFA) at IIM Indore is to ensure that no participant is deprived of education at the institute for financial reasons.

This scholarship scheme has been running for many years by the IIM Indore.

Also, note that the coaching centre of SuperGards is offering an AISAT scholarship; you can get a discount for IPM Coaching 2024

Also, be sure to take mock tests to know where you stand with your IPMAT preparations. 

ipmat online coaching

ipmat online coaching

  • Shortlisted candidates of Post Graduate Program in Management (PGP), Integrated Program in Management (IPM), and Post Graduate Program in Human Resource Management (PGPHRM) programs are eligible to participate in the Need-Based Financial Assistance (NBFA) scholarship program offered by the IIM Indore.
  • The students whose family income this year is less than or equal to Rs. 9,00,000/- are eligible to apply for this financial assistance given by IIM Indore. If your family income is more than Rs. 9,00,000/- this year, you are not eligible for this financial aid.
  • The NBFA Committee undertakes a two-step process for deciding the number of awardees and the quantum of assistance. 
  • The financial assistance offered will be capped at an amount equal to or close to the interest that accrues to a participant's loan account if he/she avails of an educational loan (for the period he/she is in IIM Indore). 
  • The actual NBFA awarded would be a percentage of the above maximum amount depending on the family income and movable assets held by the family. Disciplinary records of the participants will also be considered while awarding NBFA.

Read more: Right time to start preparing for the IPMAT exam

NBFA Process

The IIM Indore IPM Fee Structure and Scholarship offered by the IIMs have special processes that every student needs to follow.

Here is how you can access the IPM Fee Structure and Scholarship from IIM Indore-

  • In the first stage, the participant's financial needs will be assessed by evaluating the application submitted by the participants. 
  • Based on the assessment at stage I, some participants are called for personal interaction with the NBFA Committee in the second stage. 
  • During this interaction, NBFA Committee will evaluate the participant's financial need and check the correctness of the details provided by the participant in the application. 
  • Applicants will be provided financial assistance based on the evaluation at stages I and II.

Know more: IPMAT Participating Colleges List 2024

NBFA Amount for Current Financial Year

NBFA (Need-based Financial Assistance) scheme provides financial assistance based on the family income and the family's movable assets.

The below table will show all the details regarding that.

S No. Family annual Income from all sources per annum Rs. Any other condition which will be considered before sanction and render the participant ineligible NBFA educational loan interest reimbursement Other Benefits
1. Up to Rs. 4,50,000/- Movable assets like FDs / shares above Rs.10,00,000 and car ownership.
Ownership of any asset, not more than 600 sq. ft.
100% of the interest reimbursement of the educational loan amount actually withdrawn from the bank for paying the fees to IIM Indore. Rs.4,500 /- monthly for 10 months towards mess fee reimbursement in a year. Or Rs.1,000 /- per month reimbursed for internet connection if not on campus due to Covid -19 situation.
2. Rs. 4,50.001/- to 9,00,000/-  Ownership of building not more than 600 sq. ft.
Movable assets like FDs / shares above Rs.10,00,000 and car ownership.
50% of the Interest reimbursement of the educational loan amount actually withdrawn from the bank for paying the fees to IIM Indore.  NIL

Check: IPM Indore Fee Structure 2024

IPMAT mock test

IPMAT Mock test

Check: IPMAT Study Plan 2024

Other Scholarship Programs in IIM Indore

1. Central Sector Scholarship for SC/ST Students-  

  • This scholarship is awarded to students whose parents’ annual income in the previous financial year is less than INR 4,50,000.  
  • It covers tuition fee, other non-refundable charges, lodging & boarding charges, books & stationery charges, the cost of IT equipment for the first year by means of reimbursement. 

2. Minority Welfare Scholarship (Merit-cum-Means)-

  • This scholarship is awarded by the Ministry of Minority Affairs, Govt. of India to those students whose family income does not exceed INR 2,50,000 per annum. 

3. Post matric scholarship for minorities -  

  • In this, you can get full fee reimbursement for IIM Indore. 

Know more: IPMAT Education Loan and scholarship Details 2024

Other Scholarships Offered by Private Corporations- 

1. Aditya Birla Scholarship- 

  • This scholarship is awarded to academically strong students in the first year, and they can continue receiving it in the second year as well if they are among the top 25 students as per the CGPA for the first year.  
  • 1 or 2 students may receive this scholarship.  
  • The amount received will be INR 1,75,000 per year. 

2. OPJEMS Scholarship- 

  • Top 20 students from the second year based on the CGPA of their first year are eligible to apply for this scholarship.  
  • They are required to clear a written test and sit for a personal interview. 1 or 2 students may receive this scholarship. The amount received will be INR 1,25,000. 

3. State Bank of India Scholarship-

  • This is a merit-based scholarship provided by the SBI on a yearly basis, provided there is a student who qualifies for it.  
  • The amount given is INR 1,50,000. 

4. Eicher Scholarship- 

  • This is a merit-based scholarship awarded for the sum of INR 50,000 every year to a deserving student. 

All these scholarships are valid for 5-year integrated course for almost all IIMs.

Know more: IIM IPM Indore Course 2024

Conclusion

IPM is costly; you must not blindly opt for it without knowing the IPMAT Fee Structure and Scholarship programs. The IPMAT coaching fees are very high compared to all other colleges. However, every bank offers loans at lower interest rates. Lastly, scholarship programs allow students to pursue their dreams regardless of their financial circumstances.

Read more: Preparing strategy for IMPAT

Frequently Asked Questions

What is the definition of Family as per NBFA?

What are the required documents to be submitted for earning members?

What is the fee structure of the IPM program offered by the IIM Indore for Indian citizens only?

What is the fee structure of the IPM program offered by the IIM Indore for International applicants?

How many applicants appeared this year for the IPMAT entrance examination conducted by the IIM Indore?

Can I avail of a scholarship if I belong to a reserved category?

What factors are considered for awarding scholarships for IPMAT?

Is there any scholarship available for IPMAT students?

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