Population of India is around 1.15 billion, nearly 15 to 18% of the total world population constitutes India. Out of this nearly 40 to 50% population is with the age group of 0 to 20 years age. This age group is looking for quality education which includes everything pre primary, high school, secondary, college, higher education, professional course. Everyone requires good education and there is scarcity of good education infrastructure in the India.
Education is essential for everyone and even if cost of education is rising we have to go for it. Consider cost of education in various institutes at various levels.This number is certainly alarming for the common middle class person of India. Education fee is rising rapidly mainly in the city areas and some of the working parents are willing to pay such high fee. In case of rural India, situation is quite opposite, there are not much educational facilities and those who are passionate about education have to come to the city for course enrollment.
Working professionals in India looking for multiple career opportunities using education as powerful medium. Industry knowledge is expanding rapidly and in order to be in sync with the latest knowledge organization’s are promoting individuals/employees to learn new things through professional courses. It certainly helps individual to get promoted in the organization due to knowledge acquired by such courses.
There is huge demand for medical, technical and higher education in India. As compared to demand , overall number of quality educational institutions are very low. This leads to unethical practices from some of the institutes.
Students always try to get admission to their dream institute by any means. This leads to huge demand for some of the courses. Charging capitation for non merit list student is norm for some of the institutes.This is going to be changed soon.
Higher education entrance exams are becoming very competitive day by day. In 2009 total number of CAT aspirants stood at 2.4 lacs. This number is going to increase in the coming future. Any MBA aspirant looking forward to take admission in top 30 B schools of India must prepare good strategy to crack the admission in reputed institute.
Education loan has become important aspect in case of higher education. Considering 2 year program fee for brand institute like IIM Ahmadabad is around Rs. 13 lacs. Even for many other quality professional , educational courses expenses run into lacs of rupees. It becomes important for the student to evaluate all the options to get educational loans and avail maximum tax benefits in the future.