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THE EDUCATION CRISIS

Education is fundamental to an equitable society. An excellent education equips children and youth with the knowledge, skills, values, and mindsets needed to be empowered individuals and responsible citizens. The fact that a high-quality education has wide-ranging benefits for individuals and societies has been demonstrated, time and again, by countries across the world. With nearly 1 in 4 people below the age of 14 years, India today stands at an inflection point; where we go from here depends in large part on our ability to provide equal opportunities for all children to attain an excellent education.

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How Might We Spur More Innovation in Higher Education?

As industries evolve and demographics change, the need for education continues to grow. We, as a global society, spend quite a bit of money on higher education – BMO Capital Markets estimates that the U.S. alone spends approximately $1.7 trillion on educational services (including about $600 million on postsecondary education) and GSV-Advisors estimates that worldwide spending is quickly approaching $5 trillion. That’s a lot of cash. And yet, as we spend more money on education, and as schools create new degree and certificate programs, employers are asking for graduates with different skills than we teach, and some students struggle to get jobs, leaving many unemployed or underemployed.

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