As the country battles the coronavirus outbreak, with many people uncertain about their finances, the Lahore University of Management Sciences (LUMS) has increased its tuition fee by 41 per cent, a local news outlet reported on Monday.
Reportedly, the university used to divide its total fee by 20, which resulted in a lower credit hour rate, but now the policy has been revised and the total fee is divided by 12 credit hours.
Moreover, the per credit hour fee has been increased by 13 per cent due to inflation. Given that on average students opt for 16 credit hours per semester, this adds up to a 41 per cent increase in tuition fee.
The previous fee for 20 credit hours was Rs340,200 but after the 41 per cent increase it would be Rs482,000 for the same.
While the university has stated that this would make a negligible difference, the report stated that majority of students would be affected by the new policy.
Kindly review this article as it is what is considered as ‘mis-information’ and frankly I hold profit to a much higher standard.
First and foremost, no educational institution can increase their fee structure more than 10% annually and have to therefore wait atleast one year to make further increases as per current rulings.
Secondly the figure 41pct is incorrect or at the very least does not depict an increase from the current fees being paid which is approx 4 ~ 4.2 lakhs atm.