Student loan debt challenges traditional views of educational investment

The traditional view of college education as a guaranteed path to upward mobility is being challenged by rising tuition fees and a growing national student debt burden. For many graduates, the economic reality involves slow salary growth and prolonged financial constraints that delay major life milestones like homeownership.

In India, borrowers face different options between public and private sector banks. Public banks, such as the State Bank of India and Central Bank of India, often offer access to government-supported programs with interest rates ranging from approximately 7% to 10%. Private institutions like ICICI Bank and HDFC Bank provide various loan products with different eligibility criteria and interest rates, which can range from 8.5% to over 12% depending on the specific program and security provided.