Money Driven Education System

The Money Driven Education System - Celebrated by businessmen, thrived on by politicians, primary source of societal inequalities, high revenues for banks, financial burden for parents, immense pressure and mental strain for students.

The practice of employing a money-driven education system is not a recent phenomenon. Ancient civilisations such as Mesopotamia, Egypt, Rome, and India also favoured this approach. Education in these societies was predominantly reserved for the wealthy elite or those associated with religious institutions or specific castes. Access to learning was often dictated by one's financial status and social standing, thereby perpetuating clear social divides. The primary goal was to educate individuals who could afford it, or needed skills to be future employee, or were destined to become educators themselves. This exclusivity highlighted a recurring pattern throughout history: education served as a privilege linked to financial resources and societal roles, further entrenching disparities within communities.

In the global landscape, countries such as the United States, Canada, South Korea, United Kingdom, India, Australia, Indonesia, and Japan stand as prominent advocates of the money-driven education system. In the United States, a survey conducted by Gallup and the Lumina Foundation revealed that 55% of adults without a college degree identified the exorbitant cost of education as the primary deterrent from pursuing higher education. This financial barrier perpetuates a cycle where access to higher education is often contingent on economic privilege rather than academic potential. Similarly, India reflects a parallel struggle, where students from lower and middle-income backgrounds encounter significant financial hurdles that impede their ability to pursue higher education. This disparity restricts their career opportunities and perpetuates socio-economic inequality within the society. These examples underscore a global pattern where the cost-driven nature of education creates barriers that disproportionately affect individuals from less affluent backgrounds, thereby reinforcing existing socio-economic divides.

If we delve into the figures, the total outstanding student loan debt in the United States alone surpasses a staggering $1.7 trillion USD as of early 2024, marking it as the largest category of consumer debt following mortgages. When we turn our focus to developing countries, the situation is similarly significant when adjusted for purchasing power parity (PPP), standing at approximately $70 billion USD without PPP considerations in India. Factoring in PPP based on financial data from 2022, this amount would scale up to roughly $1.6 trillion USD in India. These figures primarily account for higher education costs alone. When examining the expenses incurred up to Senior High School, the financial landscape remains equally daunting.

The world is teeming with diverse talents and unique mindsets, each poised to thrive given the right guidance and support. However, the global education system perpetuates inequality for approximately 7.4 billion out of nearly 8 billion people worldwide. Access to higher education is predominantly reserved for those with financial means and influence, underscoring the stark reality that money and power dictate who can pursue advanced learning opportunities. While some countries offer scholarships and public assistance programs, these initiatives only reach a fraction of students, highlighting their limited impact in addressing broader educational disparities. This systemic bias reinforces socio-economic divides, depriving countless individuals of the chance to develop their potential and contribute fully to society.

In India, the Right to Education guaranteed by Article 21A of the Constitution mandates free and compulsory education for children aged 6 to 14 years. This foundational education forms the bedrock for future academic pursuits. However, if the quality of primary education suffers, whether due to subpar conditions in schools governed by the RTE Act or other factors, it effectively segregates and undermines the educational foundation of students in their formative years. Education isn't merely about providing access; it should ensure consistent and equitable quality across all levels. Disparities in educational standards not only hinder academic progress but also perpetuate inequalities from the outset of a student's educational journey. Thus, true education encompasses not just access, but uniform and high-quality learning experiences for all.

In my view, the way education is administered represents one of the most egregious scams and violations of the right to learn because it is not uniformly accessible to everyone. The current system perpetuates societal inequalities and stifles the potential of students who could otherwise become prodigies, but are failed by the system. This inequity not only undermines individual growth but also undermines the fundamental principle that every person should have an equal opportunity to excel and contribute to society.

A country should prioritise equal access to education based on aspiration, not financial capability, family background, religion, or caste. Education should be a fundamental right, supporting everyone who seeks to learn and excel in life, regardless of socioeconomic status or other factors. This exclusivity fosters a society where talent and effort, rather than privilege or circumstances of birth, determine individual success and national progress.

In conclusion, the world remains underdeveloped in this crucial area, and no nation should be deemed developed if it perpetuates a "Money Driven Education System." True development necessitates prioritising education as a universal right, not a privilege for the wealthy or religion or caste or group. A society's progress should be measured by its commitment to providing equitable educational opportunities, ensuring that every individual has the chance to thrive and contribute to society's advancement, regardless of financial status or background.