The annual fees for undergraduate courses in IITs will be hiked from Rs 90,000 to Rs 2 lakh from the upcoming academic session. <br/><br/>According to official sources in the Ministry of Human Resources Development, the decision was taken after an IIT panel last week approved a proposal for a three-fold hike in annual fees of the institute. <br/><br/>The committee had also emphasised that every student should be provided educational loans at an interest-free basis and without collateral.<br/><br/>The sources added that the Ministry has also decided to give a total fee waiver for the differently-abled, students from SC and ST community and those belonging to families with annual income less than Rs 1 lakh. <br/><br/>Students from families with annual income of less than Rs 5 lakh will also be entitled to a waiver of two-third amount. Rest of the students who do not fall under any category will be facilitated interest-free loans. <br/><br/>Students who are already enrolled in various IITs will continue to pay their fee according to the old slabs and the new structure will be applicable only for fresh enrollments.