06 Jul Education Unplugged
Education is unlocking itself due to the internet.
The foreign education of the past was a secret formula for a good life.
The market perceived it as unique and exclusive and paid a premium.
However, today education is unlocked. The secret formula has been divulged.
The going to abroad has been largely reduced to a lifestyle experience in most fields.
Yes there may be niches where the international input still may matter.
I have seen people spend Rs. 2 Crores and return to do a job in India; a job for which one needn’t have gone in the first place.
Even the market here no longer pays a premium for phoren return students.
A back of the hand calculation for a student who has spent Rs. 2 Crores and returned to India by the age of 28 to work here goes something like this:-
Had he not spent that 2 cr but instead invested it here, that money alone would have given him a lifestyle of 1.5 lac till he turned 80.
Needless to say, his job would come nowhere close to providing him a Rs 1.5 lac inflation adjusted lifestyle till 80.
Hence, instead of making foreign universities richer, one better travel abroad for the experience but study here, work here but moreover invest here.
Education stands unlocked due to the internet as well as competitive schools that have mushroomed here.
Learning is clearly limited by one’s desires and nothing else.
The internet is the best open university. Learn to your heart’s content.
Invest in studies but keep it limited. Get the experience. Build your character and personality.
But don’t blow away the opportunity of compounding.
A career compounded by investing is one of prosperty and well being.
Go for it, both parents and children. Please note.