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NIFT conducts its own entrance exam which happens in two stages:
1. General Ability Test (GAT)-This exam comprises 4 sections namely Quantitative Ability, Logical Reasoning, English Language Comprehension and General Knowledge.
2. Creative Ability Test CAT This test is administered to judge the intuitive ability, power of observation in concept development and design ability of the candidate. An important aspect of the test is the creative and innovative use of colour & illustration skills. Both the tests are important and mandatory to attend. Both take place on the same day and it's for all because NIFT has compulsory entrance test so a student who wants to take admission has to go through the test without the test and clearing it cannot go through so yes the fee for NIFT students and entrance exam is a must.

NIFT Eligibility Criteria:
*As per the eligibility criteria of NIFT 2018, the maximum Age- 23 years as on October 1, 2017. The upper age limit may be relaxed by a period of 5 years for the candidates of Scheduled Castes (SC)/Scheduled Tribe (ST)/Person With Disability (PHP) subject to following qualifications. *The +2 level examination in the 10+2 pattern of examination of any recognised Central/State Board of Secondary Examination, such as Central Board of Secondary Education/State Board New Delhi, and Council for Indian School of Certificate Examination, New Delhi. *General Certificate Education (GCE) Examination (London/Cambridge/Sri Lanka) at the Advanced (A) level/International Baccalaureate (IB). *Any Public School/Board/University Examination in India or in foreign countries recognised by the Association of Indian Universities as equivalent to 10+2 system. *A pass grade in the Senior Secondary School Examination conducted by the National Open School with a minimum of five subjects. *3 or 4-years Diploma recognised by AICTE or a State Board of Technical Education.

JNU is one of the premier universities in India. To get admission in JNU, you must appear for the entrance examination conducted by JNU every year. Based on your performance in the entrance examination, you will be selected for admission in JNU for the course you have applied for. JNU offers admission in various courses every year.
JNU Eligibility Criteria 2018 Jawaharlal Nehru University is to announce JNU 2018 eligibility criteria on September 14 along with the availability of JNU application form. The JNU eligibility criteria mention academic qualification i.e., subject and qualifying marks required for admission into a programme offered in the central university. The university conducts Jawaharlal Nehru University Entrance Exam, JNUEE between December 27 and 30, 2017, for admissions to undergraduate and postgraduate programmes including Arts, Science, Social Sciences as offered at various specialisations in departments and schools of Jawaharlal Nehru University. Candidates applying for JNU admissions 2018 must check eligibility criteria before filling the application form of JNU 2018. Candidates must note that if any candidate is found ineligible for admission to concerned programme, the admission will be cancelled right away as per JNU eligibility criteria 2018. Check below detailed JNU eligibility criteria for each programme.

You can join some research organisation, or companies into research, or clear GATE/NET and join Ph.D. with a good lab. Also you can join for as a JRF in a lab and enroll for Ph.D. Next best option is to take up a course in clinical research/ medical coding and getting yourself employed more rapidly. Both the industries pay you handsome salary. Actually the former is the equivalent of IT jobs in our industry. There is a lot of scope and if you dedicate yourself properly in a decade you will find yourself in a great position career wise and finance wise. The next best option is to identify a problem and solve it through a start up.
Also, if your college/ university as an incubator scheme apply for it. They will know you better and assist you accordingly.
All the best.