India’s rapid expansion of private higher education has widened access for young people but also increased student debt, unemployment and uncertainty about future earnings. In Greater Noida’s planned Knowledge Park, near New Delhi, about 100,000 students attend universities, colleges, management institutes and technology and research centres. Many families use savings or bank loans to enrol children in private colleges.

The number of private colleges in India has nearly tripled over the past decade. Higher-education enrolment reached 45 million in 2024, up 41 percent in a decade, with more than two-thirds of students studying at private institutions. Yet well-paid jobs have not grown at the same pace. Research by Azim Premji University found that nearly 40 percent of graduates under 25 are unemployed, while only about 250,000 new jobs paying more than $500 annually are created each year.

Education entrepreneur Akshay Saxena said students were sold the mistaken belief that a degree guarantees employment. He estimated that about 400,000 students annually spend more than $20,000 on private engineering colleges, while graduates’ median annual salary is about $3,000. Students are increasingly focused on earning enough to repay loans and reduce family pressure.