Sridhar Vembu, Founder and CEO of Zoho, recently expressed severe worries about the rising student debt associated with higher education, particularly in specialised disciplines such as Artificial Intelligence (AI) and Robotics.
Vembu emphasised in an online post that a common misconception among students is the belief that earning an accredited degree in these in-demand fields will inevitably result in a lucrative career. However, he cautioned that this assumption frequently leads students to incur enormous debt.
In a post on “X” (formerly Twitter), he stated, “A lot of students have been made to believe that a fancy degree in “AI” or “Robotics” is the ticket to a good job. Sadly they pay through the nose (often taking on debt) and pay with years of their youth for that piece of paper.”
Check out the post here:
A lot of students have been made to believe that a fancy degree in “AI” or “Robotics” is the ticket to a good job. Sadly they pay through the nose (often taking on debt) and pay with years of their youth for that piece of paper.Recently I have been receiving requests from… https://t.co/WFEMRUiwoE
— Sridhar Vembu (@svembu) August 23, 2024
He focused on the hard reality encountered by graduates of so-called “degree mills,” notably in Western countries. These schools frequently make great claims but fail to provide students with the actual skills required for real-world jobs. He also argued that colleges provide little value while leaving students with a large financial load.
He added that this debt load not only jeopardises young people’s financial security, but also limits their opportunities for personal and professional development.
Vembu expressed his developing opinion that burdening young people with debt in the name of education is a grave injustice and urged for serious public policy adjustments. He advocated for a system that prioritised debt-free education, particularly for young people.
“I have grown in my conviction that getting young people in debt in the name of education is a major sin, it is inhuman. Public policy should explicitly aim for freedom from debt, for youth in particular,” he added.
Vembu also encouraged companies to actively participate in the skill development of their employees. He advocated for companies to actively invest in advanced skill training, arguing that this strategy would benefit employees while simultaneously increasing innovation and efficiency for organisations.
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