Education has become so expensive that it no longer is a property of intellectual ability only. This academicians with a business acumen have come to understanding that with the changing scenario of education it is a thriving business and a money making industry.
Its directly effected to access and improvement of education.
Educational Funding "“ the funding at the preschool education system is now purely based on donations and advance fees paid for the students, the charges for the fees are high in addition to the fact that the child has to be brough to school and taken back from school which is an added cost.
Funding at Secondary School "“ The funding at the secondary level of education is again from fees,projects, educational tours which are related to the syllabus,summer camps and winter camps,extra charges for extra curricular activities brings in good money per student once the gestation period of the break is even over.
Funding at Higher Secondary Level "“ The commercialisation of the education system can be seen from the fact that at the Higher Secondary level, the fees structures besides the tuition fees includes extra amounts for maps,books, reference books,use of internet, school publications,examination fees, uniform charges, sports charges and the charges are endless. In addition in private educational institutions the student has to be able to secure high marks to be able to enter a reputed college. The young population in India is so large that gaining admission in itself is a marathon task,which puts not only the student but the entire family into a prolonged period of stress.something that should happen, with the kind of charges that an institution charges for students.
Funding at College Level "“ the harsh competition to gain a position in a good college is a difficult proposition even with the commercialisation of the education system. A student may get scholarships if the student is outstanding but then there is always a catch. It is never a full scholarship.
Loans can be obtained to study in premiuim institutions from banks and then again the onus of repayment starts the moment a student gets a job, so the student's earning career begins with a debt that has to be cleared. To state a classic example,President Obama only managed to clear his college loan after he became the President of the United States of America.
Corporate Funding - Corporations add to the commercialisation of education at all levels because the children of their employees need to be educated and that is part of the corporate responsibility of all corporations,therefore, these students get preference. At college level the financial aid comes with the understanding that the best will be given a chance to join specific corporations and sometimes in value added subjects the companies fund the student's college and university expenses but tie the student down for a period of atleast 5 years for an average pay package and that keeps him bonded to the company even if he deserves a better pay package because of his abilities.