The Cost of Education in India

The cost of education is currently a big debate in the United States but in India the issue has rarely been raised. Parents are taking out huge amount of loans at a very high interest rate from the banks and other places for higher education because they fundamentally believe that education is a ticket to a better life for their children. Thousands of private colleges (accredited and non-accredited) have opened up to cater to the demands of a growing population that are not being fulfilled by central and state universities. Some deliver decent curriculum while others are in the business to make money. They often offer the highly sought after engineering, computer science and MBA degrees without much focus on quality. As a result, these students learn very little, and struggle to get jobs and repay their loans. Private tutors and centers have also been growing for quite sometime now. This is an additional cost that is incurred by parents to help their children get into highly competitive universities and other professional fields.