Mumbai: Colleges are introducing self-financing courses to generate funds to manage daily functioning. This step has been taken as aided colleges are not receiving funds from the University Grants Commission (UGC).
College authorities revealed the state government has not been providing adequate funds for colleges since last several years. And this has forced them to introduce self-financing courses under unaided course section and generate capital.
These courses like Bachelor of Mass Media (BMM), Bachelor of Accounting and Finance (BAF), Bachelor of Management Studies (BMS) have more fees as compared to aided courses like Bachelor of Commerce, Arts and Science (BCom, BA, BSc). This fee is used to pay off salaries of teachers, visiting faculty, non-teaching staff and maintain infrastructure of colleges.
Authorities of college stated they do not have an option but to generate funds in a healthy way wherein they cater to students and keep the college running as well. Marie Fernandes, Principal of St Andrew’s College, said, “Students are opting for Self financing courses as it provides larger scope. Colleges are introducing more of these courses to cater to students.”
Students claimed they do not mind paying more for these courses. Nikita Mhatre, a BMM student said, “We have professional teachers who are journalists and managers in firms. The faculty needs to be paid off their salary and the state should realise education needs funding.”
Colleges also mentioned this method is balanced as it helps generate funds and also provide better education. A teacher said, “Through these courses we can gather some funds and also provide a larger platform for students. If the state is giving a deaf ear to our needs we will have to try alternate methods to continue educating our students.”