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| Tuesday, 27 May 2003 |
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| Business |
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Need for quality education The success of the recent education fair held in Colombo indicates that there is growing awareness among students and parents on the need for quality education geared towards employment. Nearly 15,000 parents and students attended the fair, where several foreign educational institutions were also represented. It is apparent that more students and parents are choosing educational avenues that lead to guaranteed employment in lucrative sectors such as Information Technology (IT). They have realised that a career-oriented education is indispensable in a competitive economic environment. More students are veering away from the conventional wisdom of striving to enter a traditional university mainly because many of their courses are out of sync with modern realities and requirements. They do not prepare graduates for life out in the open. The theoretical knowledge gained from most university degree courses is hopelessly outdated and insufficient for commercial application. This is not a fault of the university education system per se, but a malady that begins from elementary grades themselves. For far too long, our education system has not concentrated on job-oriented curricula. Some of the subjects taught in schools have little or no relevance to the modern world. Attempts are now being made to put things right. Education reforms incorporating modern curricula are being implemented in several phases. Leading business chambers and companies are training graduates for jobs under the 'Tharuna Aruna' program, which encompasses modern business practices, IT and English language skills. The latter is vital for business, since no commercial enterprise can function in isolation. An international link language is essential to transact business deals across borders and even within the country. A start has been made in this direction, with the re-commencement of teaching in the English medium in government schools after several decades. This will hopefully equip the students to face society with confidence when they emerge from school after 12 years. Today, school-leavers have a host of options. Some prefer to go into a job straightaway, but most students opt for some form of higher education that will pave the way for a better job here or abroad. They face a bewildering array of choices, from computer studies to MBAs to pilot training. Our schools should ideally guide their students towards suitable career paths, depending on each person's innate and acquired talents. However, not everyone can afford the high fees demanded by higher education institutes, especially foreign ones and their local affiliates. Even though tuition at local universities is free, there are other unavoidable expenses that may be a burden to students from less affluent families. It would indeed be unfortunate if education is wittingly or unwittingly restricted to the elite of society. This is why more financial institutions are introducing hassle-free loans tailored to meet specific requirements of individual students. A special feature of these schemes is that students can apply directly for loans, which can be repaid over a period of several years, possibly while doing a job after finishing studies. Some students tend to go it alone, setting up their own ventures instead of getting a formal job. Helping and recognising them is equally important, since small and medium business enterprises play a vital role in the economy. Several banks have come forward with attractive packages to assist young business persons. It is also encouraging to note that more than 60 young entrepreneurs from all parts of the island have applied for the Young Business Start-up Awards sponsored by Shell. Such recognition will propel them to reach greater horizons. |
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