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?