Educational fee regulation Act amended in Maharashtra
The state Legislative Assembly Monday passed an amendment to the Maharashtra Educational Institutions (Regulation of Fee) Act 2011, allowing parents to pay fees on monthly, bi-monthly or quarterly basis as decided by the school management. Parents intending to pay the fee at one go every six months or yearly will be allowed to do so and the management shall offer rebate, the amendment lays down.
The management of private unaided schools and permanently unaided schools shall also be entitled to charge a late payment fee, along with with penal interest, it states. The rate of penal interest in this regard, however, will be decided by the state government, the amended Act says.
The management of private unaided schools and permanently unaided schools can declare the fee structure for all standards at the time of the admission and will need to display it on the notice board as well as the official website, it says. It adds that in case the fee structure is declared for only a part, the remainingpart shall be declared at least one year before the commencement of that academic year.
The amendment lays down that these schools may increase the fee after two years subject to its approval by the executive committee or divisional fee regulatory committee.