Sunday, April 26, 2009

The simple equation

The Lunatic is in my head....
I happened to come across the names of few glorious institutes of India which are believed to have the charisma of turning your life into gold just by touching it. These great management Meccas were constructed by the government with the help of the brightest management gurus of those times with a mission of creating great managers, entrepreneurs etc etc who can hugely contribute to the market and economy of the country and thus can change the face of India. Not only this, these institutes have become one of the biggest aspirations of almost all young guys of India. As the competition is insanely tough, only the smartest of the lot get the opportunity to cross the hallowed walls of IIMs. All of them who get into these distinguished institutes posses incomparable intelligence, phenomenal vision, exceptional ideology and what not. They are full of talent, energy, enthusiasm and all good things which an average Indian can think of. They are actually the treasure of the country in some way.
So, it looks quite obvious that these great students equipped with great talents will definitely make India a great place in some time. Some time??? How much time?? May be a year, two years or five years; that’s it?
Oh! here is the catch! Arrey for the next five years they will be busy repaying their loans. Yes! the education in these great institutes doesn't come for free. Niether it is cheap. You cant say expensive also. Because it is exorbitant, it is unaffordable, it is insane. Who in this country can shell out ten lac rupees from their pockets for the fees of a two year course. Maybe some can, but those who CAN probably dont need IIM degree to improve their quality of life index. So students take huge loans with huge interest rates and then get a pass to step into the classrooms where they will learn how to realize their dreams. But the burden of this loan will make them dreamless, thoughtless and visionless. Now they all will share a single dream -> Get the highest paying job in the campus, so that they caan get rid of the loan as soon as possible and then live their peaceful life with their 'newly formed' family.
It's true that all the directors and the deans of the institute can proudly anounce that everyone will definitely get a job so that laons can be repaid. But that's not the point. Repayment of loans is not the issue. Issue here is time, age and energy. The burden of loan cripples the students. It compels them to anyhow get a job in the campus. It compels them to forget their own dreams. It compels them get away from their courage and curiosity to experiment and explore the opprtunities. It compels them to work for fulfilling someone else's dream. It compels them to choose -MEDIOCRITY.
You see how surprising is this. Superiority of the institute and quality of the students together result in nothing but 'mediocrity'. Mediocrity in choice reflects mediocrity of life.
If these institutes can reduce their fees to the affordable limits then all fresh graduates will have no loan repayment dilemma. They will be able explore the world on their own terms. They will experiment, they will create, they will innovate. They may fall but they will rise and they succeed because they are 'IIM graduates'.

2 comments:

  1. First to refute my friend here, in some points: I believe that "loan repayment dilemma" can not budge someone who is supposed to posses "incomparable intelligence, phenomenal vision, exceptional ideology "...Although a good MBA institute may give you the proper platform, the right peer group, and a great skill set to launch you up globally amongst the best of the best of the best, an individual must relaize that its him who has got the talent, its him who is striving for excellence, its him who will eventually built up the skill, its him who is full of energy and dissipates it every way, its him who is hungry for knowledge and wisdom and will absorb anything surrounding him, its him who is the best. People buy cars, homes and what not and take up lots of loans, repaying it month after month in insallments for years, but it does not stop them from doing what they are doing.

    But the point put forward by friend of premier institutes charging ridiculously high fees holds and holds true. Business schools are imparting Education or doing Business??? IS the quality deliverd the main question or the profit at the end of the day thats running in their minds???? There is no doubt that there is foul play and such high fee is just not acceptable. The need of the hour is to move more towards imparting high quality education than making money. IIMs particularly being govt. aided have to do pull their fee structure down( and reservations too, which i will be discussing in a separate post). Its a shame that most people nowadays look at MBA as an good investment to double their salaries/revenues. It has become a Business deal rather than a knowledge and skill transition.
    I have lots on my mind, but i need to go grab my OG, do some SC's, CR's and RC's....i need a good score!!!..the competion is tough!!! .. and the time is running!!!...

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  2. Its true that people take loans to buy cars,home etc. But generaaly they are the people who are well settled in their job or business. They get loans because banks know that they can repay.
    But for a student that's not the case. Banks make them swear by the name god that they will have to make themselves well settled after two years no matter what. Nobody will try their hands in new things. Nobody will try for entrepreneureship. Nobody will experiment. And thats bad for them and for the country.

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