Source: NYT > Business (paywall)
India's families are financing private college degrees at scale, treating education as the primary vehicle for upward mobility, only to find credential inflation has outpaced job creation in skilled roles. Family savings are flowing toward credentials while actual opportunities remain scarce, leaving graduates debt-burdened and competing for a finite pool of positions. When educational enrollment outpaces job availability, aspirational markets overheat—with real consequences for household wealth and social stability.