Leveraging Education as a Driving Force for Sustainable Growth
Private investment in education in Bangladesh has grown significantly over the years, with private universities and tutoring centres becoming a common sight. This expansion has increased access to education, offering improved facilities, resources, and effective technology usage. However, the quality and inclusivity of education remain concerns.
The Mixed Outcomes of Private Education
Private universities in Bangladesh promise better education and job prospects. Yet, many graduates find the quality lacking in terms of industry readiness. The financial return on investment is often delayed, imposing economic burdens on families. Private tutoring, a form of "shadow education," is widespread and seen as crucial for academic success. However, it disproportionately benefits students from wealthier families, raising inclusivity concerns.
Performance of Private Schools
Private schools in South Asia, including Bangladesh, demonstrate performance at least comparable to government schools when adjusted for socioeconomic status. However, variability in quality exists within both private and public sectors. Factors such as teacher behaviour and accountability are critical for effectiveness, suggesting that private investment alone does not guarantee quality without strong regulatory and institutional frameworks.
The Role of Social Business in Education
Social businesses, like microcredit, aim to solve social or environmental problems while increasing social impact, prioritising reinvestment and focusing on social impact, including inclusion and empowerment. While the search results do not directly address social business models in the education sector in Bangladesh, they could potentially help bridge quality and inclusivity gaps by innovating affordable and industry-relevant education solutions that do not solely rely on profit maximisation.
Policy and Institutional Reforms
Policy and institutional reforms are needed to improve the enabling environment for private investment to contribute more effectively to the education sector in Bangladesh. Strengthening policy, regulatory frameworks, and exploring social business models could enhance the development of education, improving both quality and inclusivity.
Dr Mohammed Mahbubur Rahman, the Pro-Vice-Chancellor at Ahsanullah University of Engineering and Technology, emphasises the importance of social businesses in addressing poverty, providing access to resources, employment, and achieving sustainability. He believes that these models could offer a path toward long-term, sustainable development in the education sector.
In conclusion, while private investment has expanded educational opportunities in Bangladesh, it presents limitations in quality alignment and inclusive access. Strengthening policy, regulatory frameworks, and exploring social business models could help improve the development of education, ensuring quality and inclusivity for all.
Key points:
- Private universities often fall short in preparing students for the job market, creating financial burdens for families.
- Private tutoring boosts academic results but tends to favour wealthier students, potentially undermining inclusivity.
- Private schools demonstrate comparable academic performance to public counterparts when adjusted for socioeconomic factors, but quality varies widely.
- Social business models could play a role in promoting affordable, quality, and inclusive education by balancing social goals with sustainable investment.
- Policy and institutional reforms are needed to improve the enabling environment for private investment to contribute more effectively to the education sector in Bangladesh.
- Social business, distinct from social enterprises, does not rely on public or government grants or donations.
- Social businesses, like microcredit, could potentially bridge quality and inclusivity gaps in the education sector of Bangladesh, offering a path toward long-term, sustainable development by providing affordable, industry-relevant education solutions that do not solely rely on profit maximisation.
- Despite the widespread use of private tutoring in Bangladesh being seen as crucial for academic success, it disproportionately benefits students from wealthier families, raising concerns about inclusivity and access to resources.
