“The cost of college education today is so high that many young people are giving up their dream of going to college, while many others are graduating deeply in debt”
— Bernie Sanders
Even though this quote is said in context of education in USA, the situation isn’t much different here in India. When we meet our old friends over a cup tea or coffee, we cherish our school/college days. These nostalgic memories take us back to the good old days when it was much easier to dream, set our goals and achieve them with ease. The inexpensive lifestyle in those days gave us a lot of room to lead a carefree life.
Do you remember that schools use to collect a ‘humble’ fee of Rs. 11,000 from a standard 12 student 15 years ago? But now the same education would typically cost about 2 lakh which is ten times more.
We at MyWay Wealth tell our customers how the inflation in the education system rises in double-digits while your purchasing power climbs by just 6-8% each year.