In a world where education is often seen as the only ticket to success, one young student’s story has shaken Zoho CEO Sridhar Vembu to the core.
He recently shared a heartbreaking case, where he revealed that a student has taken a Rs 70 lakh loan (about $80,000) at 12% interest to study for a master’s degree at a small college in the US. The dream was to make a better life, a better job. But now, the reality is sinking in.
“The job scene in IT is bad,” Vembu wrote, especially for foreign students as payments on massive loans are about to begin.
What makes it worse? Even companies like Zoho, he said, are hiring very cautiously right now. “That caution in hiring is also because we have a policy of not resorting to lay-offs,” he explained.
So what happens to youngsters’ dreams when jobs are scarce and debts are high?
Vembu didn’t just stop at pointing out the problem. He made a heartfelt plea: “I urge students and parents to be cautious in borrowing heavily to pursue degrees abroad. Borrowing heavily to pursue degrees in India is unwise too.”
Speaking with deep concern, Vembu said that he strongly believes that we as a society should not be trapping youngsters in paying-off debt, just in the name of education.
Zoho CEO’s advice for companies
Vembu has instead suggested something hopeful and practical, that companies should take the lead in training and skill development, and that industries should start recognising alternative qualifications, not just expensive degrees.
“The best investment we make as a company is in training and skill development,” he said. “I hope companies do this widely so we don’t strand young people in debt,” he added.
His message is clear – education should not become a lifelong burden. It should uplift, not crush. In chasing dreams, young people should not be pushed into nightmares of debt and uncertainty.