Sandeep, first of all, a general student won't even get selected into any of the IIM with 90 percentile in CAT. It's percentile, not a percentage, I think you must have misjudged it. For even getting into new IIMs or ultra new IIMs you need to atleast have 95+ percentile. For IIM Shillong you need to have 97+ percentile with a strong profile (academic records, work experience etc.). These all things will lead you to get a call for the second round process of WAT and interview. And after clearing that only you will get admission into any IIM.

Now talking about fee compensation so there is no fee scholarship or compensation for any student in any IIM even if you score 100 percentile. For MBA programmes at IIMs, to pay the full fees the best way is to get a loan from banks. When you will be joining IIm so at each many banks come to give their presentation showing about all of their loan schemes. And believe me, at IIMs you will be getting loans in the easiest way at the lowest interest rate. At IIMs you get loans without any guarantee only on the basis of the information that you are enrolled in that institution.

There are no as such fixed scholarships when you will be taking admission at IIMs. Fees are same for all students irrespective of caste category or gender. But once when you will join you will be introduced to the various scholarship from different organizations and governments. There are many scholarships given by the regional government, organizations like Aditya Birla Group and also the central government. Most of these scholarships are based on the parental income, caste and also the academic performance of the student. But you don't need to worry about any scholarship right now, you will be introduced to all the type of scholarships during your session.

At present, you will need to get your loan sanction and carry on with the studies. Don't worry about the payment because you are going into a premier b-school whose ROI is generally very good and you will able to pay your debt in a few years and then there will be growth only.

All the best!!

Hi, 

None of the top IIMs will waive the fee for MBA. Some other B-schools might provide some sort of financial aide if you really need, or else will make arrangements to let you 'earn while you learn'. We all know that pursuing MBA at IIMs is pricey. Hence, several banks provide education financing schemes designed specially for IIMs. For example SBI Scholar Loan Scheme is one such education loan tailored for premier B-schools. Here's an article on MBA Loan and Funding Options, which I believe will help you consider your MBA loan options.

https://bschool.careers360.com/articles/funding-your-mba-know-all-about-mba-education-loan-options

Once you read this article, you might feel that education loans aren't such a big deal after all! 

Good luck!