Education comprises of three different aspects; elementary, secondary and higher. While elementary and secondary education is imparted at school level, higher education is imparted at university and college level.
Basically there are two types of education providers: public and private. Private institutes have two types of funding that is government aided or entirely self-funded. Public institutes are established and managed by the government. Private providers step in when government has limited resources. Private sectors we know, operate on profit motive, but when it comes to education private institutes operate not on profit motive, but for the greater common good of imparting education.
Sceptics believe that private institutes lower the quality of education due to lack of active regulatory oversight. Most people think that they levy high fees on students. While others believe that private institutes improve the quality of education due to presence of increased competition in the market. Here’s a brief analysis.
Education falls under the Constitution. This basically means that both centre and state regulate education laws. Determining the quality of education lies with the centre. Further, states can regulate or wind up Universities
The main regulators of higher education is United Grants Commission (UGC) and All India Council for technical education (AICTE). The professional courses are regulated by 15 professional councils.
Is it profit driven?
The Supreme Court has interpreted that education is imparted for charitable purpose and not for profit motive. Therefore it is supernormal profits is not possible by providing education. If any kind of revenue surplus is generated by private educational institute, it is for educational development and expansion.
The bottom line is private institutes, have stepped in where the centre has failed in providing education to the society. Though sceptics may differ, education industry cannot solely work on the basis of profit. Private educational institutes, it would not be wrong to say, are in fact a boon for the society.
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