The full form of MBA is well known… Yes! You guessed it right- MASTER IN BUSINESS ADMINISTRATION.
But today this course has become a status symbol rather than a premiere vocational course. The high cost of MBA course and its stringent selection process have demoralized several aspiring candidates. They often feel depressed and helplessness because they can’t study MBA because of various reasons. Tough MBA entrance exams like CAT, MAT, XAT and others are adding more pressures into minds students and parents as well.
The exorbitant MBA course fee deprives many students from studying this PG course. On an estimate, any MBA course throughout India costs at least more than a lakh or two. Only rich people readily invest such an amount towards their kids’ education. Else, other parents may need to take education loan for that. This often create unwanted financial stress and liability for them.
Be it Mumbai, Hyderabad or Patna, wherever one wants to study MBA, he should be sure of the high cost of the course irrespective of how much brilliant and intellectual he is. Scholarship or reduced course fee for an MBA aspirant is a rare word. Private institutes and universities add more confusion into the scene as they charge too high fees in the name of 100% placement.
Private Universities claim that they have superior faculties and infrastructure to teach MBA students. Still charging Rs. 4-5 lakhs for a two-year course is very high. Since MBA is a common course that any graduate can study… so it’s price should be in fact affordable and low. It will help even the poor student coming from economically weaker section of the society to come forward and take admission to such courses.
Education Loan Is Not The Solution.
The lending bank takes all the real or original copies of certificates and degree as securities. These documents are returned to students only when they clear the full loan amount. The Loan application procedure is very-very tough.
The Government needs to be little more sympathetic towards the towards the weaker sections of the society. They must create a favorable educational climate where economically weaker yet meritorious students can easily get admitted to MBA course from a recognised institute or university. It’s important to reduce the exorbitant course fee of MBA course across India.
As we know “a stitch in time , saves nine” similar should be done in order to remove this gap of MBA-Divide. A candidate with valid MBA degree has more chance of getting a job than a simple graduate.