The rising cost in education has made it extremely cumbersome for financially weak families in India to let their children pursue studies.
The rising cost in education has made it extremely cumbersome for financially weak families in India to let their children pursue studies. The condition of Indian education is dismal with more people in recent times not even making it to school, according to a recent report by NSO. About 70% of rural Indians are not able to complete 10th class education; the same number stands at over 40% for urban India. In higher education, only 1 in every ten Indians has a graduate degree and above. Pursuing a college degree in general courses means average expenditure of Rs 5,240 per student in rural areas, and more than three times the rural average spends i.e, Rs 16,308 in urban areas. For those who choose to pursue medical degrees, the cost soars to over Rs 72,000 a year.
Here’s what average education costs are in a year for various education levels in India.
What does it take to enrol a child in engineering courses? An average amount of Rs 63,280 per year plus accommodation and other charges. In India, the average per capita income is about Rs 10,500 per month.
Apart from fees which constitute about half of the total spends on education, there are various other miscellaneous expenses that make for a costly education.
The following chart depicts the share of the Indian population that has completed certain level of education. Only 11% of the population or roughly one in every 10 individuals has a graduate degree and above. Every one in four persons is not literate.