Save Your Children From ‘Useless’ Degrees – RBI’s Raghuram Rajan
Reserve Bank of India governor Raghuram Rajan said on Saturday that efforts should be made to make quality higher education affordable and cautioned students to be careful of “unscrupulous schools” that left alumni with high debt and “useless degrees”.
Speaking at the convocation ceremony of Shiv Nadar University, Rajan said while banks must be careful to ensure that student loans were repaid in full, there needed to be concessions for those who fell upon bad times or opted for public service jobs.
“We have to be careful that student loans are repaid in full by those who have the means, while they are forgiven in part for those who fall on bad times or those who take low-paying public service jobs,” Rajan said.
Banks’ bad loans have become a politically sensitive issue after l...