The young generation in India has been maturing everyday, call it Western influence or age of technology or increasing awareness or anything else. The Generation Y definitely knows how to handle itself and overgrow the boundaries they have been fenced in for so long. Thwarted till today by societal pressure, they are now coming up as the future leaders who are poised and competent enough to take on the world.
These global leaders of the future are taking rein of their lives in their hands from as early as their schooling times. No longer hidden behind their mothers’ shelter or guided by their parents, the youth of today is ready to unharness the horse and take it full on. This begins even before they complete their schooling as they plan their career path and the course of action well in advance. Immediately after clearing Class X exams, they would join coaching centers for preparation of engineering, medical, law and other entrances for various government and private institutes of higher education. And then after preparing for two years and clearing the entrance, they get into the graduation colleges. Then begins the preparation for clearing through post graduate colleges offering courses like MBA, MCA, MA, etc. These institutes generally charge hefty sums of money as tuition fees which salaried people may not be able to afford owing to the increasing cost of living and fluctuating markets.
Here comes the role of education loans as they have made it much easier for students to pursue higher education. Taking loans or borrowing from banks was earlier seen in negative light as it invites liabilities and burdens but has become important today to live a quality life. So, the education fee of students is financed by banks who then repay the loan after completing the course and getting a good job.
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