Formal loafer shoes for interview to mba colleges is ok?

IS IT OK TO WEAR FORMAL LOAFER SHOES (SHOES WITHOUT LACE) TO INTERVIEWS IN IIMS/XLRI/NITIE ETC?

IS IT OK TO WEAR FORMAL LOAFER SHOES (SHOES WITHOUT LACE) TO INTERVIEWS IN IIMS/XLRI/NITIE ETC?

Ah!! Actually, now that I know why they exist, I don’t mind them as much. I’ve always found it strange how the sole of the shoe seems to creep up onto the back of the heel. Style takes a back seat to functionality. Is there anything similar, or should I just accept the tongues of the tassel/pennies? I reviewed the Bass Penny Loafers and was pleasantly pleased; they didn’t appear to be as unpleasant as I had anticipated. Tassels continue to irritate me.