Faced with budgetary cuts from the central government, IIT Kharagpur+ has found a new way to raise funds through a "Learn-Earn-Return Fund" scheme, where students will get a fee waiver if they pledge to donate money after getting a job.
Launched from this new academic session, the scheme will help students to learn without burden and shape their career to earn and give back to their alma mater.
"We have asked the students to give a minimum of Rs 10,000 per year after they get jobs. Even if 30,000 of our alumni give the minimum amount then we will raise Rs 30 crore a year. If the alumni starts contributing then we will be able to build a new model. Even the Harvard University gets 60 per cent of its budget from alumni," IIT Kharagpur director Partha Pratim Chakrabarti said.
Read more of this news on TOI website.