Formal education is an important part of one’s life. It can take anywhere between 13 to 18 years in one’s life. In fact, the number of years can be more than 18 in some cases. It normally includes primary school education, secondary school education, some may opt to do diploma courses, some may go for bachelor courses and there are many others who would even go for masters and doctorate. Formal education has become very expensive nowadays. Most banks and financial institutions offer education loans to students who can’t afford to pay for higher education. Even though the interest rates are high, most of them accept the loan realizing that formal education is a crucial aspect of one’s life. Believe it or not, debt from student loans has crossed a trillion in USA alone.
One might ask why would someone borrow heavy money in the form of student loans and pursue higher education? What would he get out of it? What is the future? Well, the answer is jobs. Employment after education is the only thing that drives these students to take loans from banks and enroll themselves in prestigious colleges to pursue higher education. Most of them would have big dreams as to what kind of jobs they want after education, both in terms of salary and the job profile.
Most people would want to study in the best colleges available. The reason being not just good facilities provided by the colleges. The most important reason is the job placement opportunities one would get from prestigious educational institutions. Hence, students don’t hesitate to shell out big money to join prestigious educational institutions since the normal institutions don’t attract well known companies for campus job placements. Well known companies offer high salary and interesting jobs. People are always looking to get placed in high profile multi-national companies thinking that only those companies offer the best career growth opportunities apart from good salary. Even though it is true to some extent, I have seen many people joining low profile companies and would still end up learning a lot from them. With small companies, the employee strength would often be less and you may end up with a lot of responsibilities. In hindsight, that can be advantageous for your career.