A common question raised by the students and their parents every year is about the need for investing in a college education. If we go by the research till date, the evidences suggests that, on an average, university graduates are able to earn much more than high school dropouts. However, how good is an investment in finishing college depends on the cost and earnings of the graduates. In this article we will try to find out the association between the learning potential and the education level, and whether a college education is worth the investment.

Higher education in India has increased considerably over the past two decades. At the time of India's independence, the higher education system was only catering to a small privileged group. But today, we can see the transformation of education from elite to mass education. Why is the enrollment in the colleges increasing day by day? What boosts them? Is it a fashion, tradition or it is a good place for the younger generation to spent time? The answers to these questions are all – No. But with the realization that education is for the life, more and more students are making their move towards higher education so that they also get the chance to improve their career prospects and have a better quality of life.

In India, education is regarded as one of the most important tools for upward social mobility. People are very particular about their college, not only because it is a way towards success, but also because it is the most unforgettable episode of a lifetime. Present education system in India represents a great irony. On one side, we have certain colleges that are rated best in the world and, on the other, we have several schools and colleges that even do not have the basic infrastructure. Today, even after 60 years of our independence, we are far off from the dream of sarvasiksha, i.e., complete literacy.

According to the report presented by Shashi K Srivastava, Senior Education Specialist at the Association of International Educators meet on March 28, 2006, India has the third largest education system, after the US and China, with 348 universities, 17,625 colleges, more than 5,00,000 teachers and approximately 10.5 million students.

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