Why is education becoming so expensive?
The biggest reason is inflation. When the prices of everything are increasing, the cost of education is also increasing. According to the bank Bazaar report, the prices of things have increased by 5-5.6% in the last few years, but the cost of education is increasing at the rate of 8-10%. That means, the cost of education doubles every 6-7 years.
Nowadays education is also being seen as a business. Schools and colleges are increasing fees to earn more and more profit. Due to this, the cost of education is skyrocketing. More facilities are being provided in schools and colleges than before, like good building, computer lab, library, playground, activities etc. Money for all these things comes through fees only. Good teachers have to be given good salary. This also increases the cost of schools and colleges and they have to increase the fees. New courses are being started and the use of technology in education is also increasing. Money is needed for all these things.
Fees have increased, but whose price?
The income of schools and colleges is increasing, but the parents have to bear the brunt of it. The increase in fees affects the pockets of the parents the most. They have to spend a large part of their income on the education of their children. Sometimes they even have to take loans. The increase in fees also increases the pressure on the children. They feel that if their parents are working so hard for their education, then they too will have to score good marks. This puts a different burden on their mind.
The increase in fees also has a social impact. The increase in fees increases inequality in education. Those who have money can send their children to good schools, but the children of low-income people have to study in cheap and less-equipped schools.
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