A country’s education level is a major determinant of its economic success. Higher tertiary enrolment ratios are strongly correlated with higher GDP per capita and higher standards of living. As a country with the potential to become a major player in the world economy, India must focus on how to provide more of its citizens with higher education so that it can continue (and accelerate) its strong economic growth.

One of the most pressing issues that needs to be addressed in India’s higher education system is affordability. Currently only the wealthiest citizens can afford to pursue higher education, which perpetuates income disparity in the country and stifles economic growth. To solve this problem, India must increase the accessibility of student loans to student from all income levels.

In its second report for the EDGE conference, The Parthenon Group discusses the challenges that India faces in revamping its student financing system, and recommends ways in which stakeholders in this system (educational institutions, banks, and the government) can drive change. Parthenon uses examples from student financing systems in the USA, UK, and Brazil to show different paths to expand tertiary education access in India.