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SHIFTING IMAGES

Changing lives by 'degrees'
IT is graduation time in the United States. Last week I was conversing with a close friend over a graduation dinner, and the topic veered toward the increasingly unaffordable cost of education. During the course of the dis-
cussion my friend said: "Education has now become the most expensive commodity. My granddaughter, who is in second grade, attends a private school costing $30,000 per year!” It took me a few seconds to absorb the impact of the statement. Education is a commodity? And, the price tag is $30,000 per year for elementary school? Multiply this figure by eighteen years of school and add four years of undergraduate college tuition and board (which may range anywhere from $25,000 to $50,000 annually for private institutions) and what we have is an estimated expenditure of about $700,000 per student for a Bachelor's degree.
Of course, I need to clarify that this is the upper end of the cost spectrum and my friend was referring to an elitist private school education. The fact remains that most kids in the US graduate from public schools free of cost and then apply for financial aid or student Ioans for completing their college education. However, the cost of education has been escalating. Even the relatively cheaper State Universities have raised their tuition because of budget cuts by state governments. Consequently, most students are being pushed to borrow at high interest rates, prompting President Obama to sponsor a Bill to reduce the burden of student loans.
As these reflections raced through my mind, I couldn't resist asking my friend: "But why does your daughter send her child to an exclusive private school when there are excellent public schools in the Washington Metro area?" "Well, you see we need to ensure that our children enter the job market with a competitive edge. A private school and Ivy League university education offer you exacdy that,” she responded. "Apart from the brand name, one can tap into the social network of university friends who are motivated and more likely to succeed in the job world."
The sad reality is that soaring education costs are compelling parents to calculate the tangible benefits of an expensive college degree. Young men and women with a Bachelor's degree from a US university may accumulate a student loan anywhere between $25,000 and $100,000! With the job market taking a downward slide
in recent years, it is becoming increasingly difficult for graduates to re-pay loans. Many parents are thus questioning whether it is worthwhile for their children to get a college degree. In their view, if an expensive education does not ultimately translate into a hefty salary, the investment is wasted.
Does this mean that college education is in danger of becoming redundant? Research indicates that university education has increased benefits for society through higher tax returns and greater civic participation of the graduates. However, detractors of college education point out that a large numbers of college graduates are serving tables, driving cabs and employed in jobs which don't, necessarily, require a Bachelor's degree. They argue that some kind of job skills training can well be rolled into the Higher Secondary School curricula. In addition, the examples of successful college-dropouts like Mark Zuckerberg, Bill Gates and Steve Jobs have made young people sceptical about the benefits of completing four years of university Advocates for college education, of course, assert that among thousands who drop out only one may emerge as a successful entrepreneur or innovator like Zuckerberg or Jobs! The rest are lost in the struggle for survival.
What, then, is the alternative to college education? Vocational education may be a viable option for acquiring skills in a particular field and finding suitable employment with a degree that costs less and can be completed in a shorter time. Another evolving option that is being aggressively explored by leading universities, including Stanford, is on-line education.
Whatever fiiture course higher education may take, I have problems accepting the idea that the benefits of education can be weighed in terms of dimes and cents. I must confess that I, too, aspired for an Ivy League education for my kids because I believed that a good education would not only provide a secure professional future, but also prepare them to face the challenges of life with more confidence and equanimity. I still hold that a college degree is not merely about gaining productive employment. It opens up opportunities for personal growth by molding the contours of one's character. As Albert Einstein said: "Education is what remains after one has forgotten everything he learned in school.”
If I have the freedom and means to choose I shall insist that my grandchildren get a solid college education ... wouldn't you?
The writer is a renowned Rabindra Sangeet exponent and a former employee of the World Bank.