A recent study reveals that education costs in India have skyrocketed by a staggering 20x in the past 30 years. This alarming trend has left many parents struggling to afford quality education for their children.
One such example is the case of Aviral Bhatnagar, a Bengaluru-based investor who recently shared his experience on social media. He revealed that LKG fees in Hyderabad have increased from Rs 2.3 lakh to Rs 3.7 lakh per year in just a short period. This substantial hike highlights the growing affordability crisis in the education sector.
The rising cost of education is a significant concern for many families. It is not just the initial enrollment fees but also the ongoing expenses such as tuition, books, uniforms, and extracurricular activities that contribute to the overall financial burden.
Several factors are contributing to the increase in education costs:
- Inflation: Rising inflation rates have led to increased operational costs for schools, including salaries, utilities, and maintenance.
- Increased demand: The growing number of students seeking quality education has created a competitive market, allowing schools to raise their fees.
- Commercialization of education: The trend of commercializing education has led to schools operating as businesses, focusing on profits rather than affordability.
LKG fees have gone up from 2.3L to 3.7L in Hyderabad, mirroring nationally
— Aviral Bhatnagar (@aviralbhat) August 14, 2024
While we focus on house prices, the real inflation has happened in education
Inflation adjusted, school fees are up 9x and college fees are up 20x in the last 30 years
Education is no more affordable
To address the rising cost of education, several measures can be taken:
- Government subsidies: The government can provide subsidies or financial assistance to families to help them afford education.
- Increased public spending: The government can allocate more funds to education to improve infrastructure, teacher salaries, and accessibility.
- Regulation of private schools: The government can regulate private schools to prevent excessive fee hikes and ensure quality education.
- Alternative education models: Exploring alternative education models, such as online learning or community-based education, can provide more affordable options.
Also Read: Online Vs Offline Learning
