Online education is a checkmate for private universities' says Mayank Kumar
- More than 70% students of current online higher education programs have demonstrated greater propensity to adopt it in the future, highlights L.E.K. Consulting’s India Edtech Survey (2020)
Mumbai, 8th October 2020: upGrad, India’s largest online higher education company is ready to offer 15 million youngsters with its diverse portfolio of online programs that provides relevant skillsets and prepares a future-ready workforce. These online programs are offered in partnership with renowned national and international universities, which are now looking at online education as a viable option for delivering pedagogy.
India Skills Report 2020 has pointed out that the country is experiencing a massive skill gap where 65-75% of the 15 million youngsters entering the workforce every year, lack requisite skills and are not ready for new-age jobs. Moreover, upGrad draws inspiration from the findings of L.E.K. Consulting’s India Edtech Survey (2020) that shows, both, existing and new users of online learning in the higher education and upskilling segment demonstrated high satisfaction and a higher likelihood to continue its usage post COVID-19.
In link with the L.E.K. survey, Mayank Kumar, Co-founder and MD, upGrad said: “With the growing popularity for online education, it seems the new e-learning model will soon checkmate private universities for its better pricing, and wider accessibility that it offers. The current situation demands for a highly skilled workforce that will help the economy to bounce-back from the repercussions of the pandemic. The only way to enable individuals with the new-age skillsets, is through online learning.”
“Actionable insights, such as L.E.K.’s recent survey explaining the existing skill-gap, is a vital tool for companies like upGrad to evaluate and design outcome-oriented offerings,” he added.
Danish Faruqui, Partner at L.E.K. Consulting’s Global Education practice added, “There are over 350 private universities in India and more than 200 of these were established over the last seven years. Despite a low-quality offering, a majority of these universities have survived as ‘rent-seekers’. Many students turned to these higher education institutes, due to a lack of access to better quality education. The onset of online providers will impact these universities significantly.”
“This trend represents a significant opportunity for online degree providers. Advantages like access to high-quality content at a reasonable price-point, partnerships with better quality universities and services will continue to expand the footprint of online providers, such as upGrad”, said Faruqui.
upGrad offers a plethora of industry-relevant online programs in partnership with top national and international universities for seasoned professionals and first-time job seekers. In a recent move, the edtech major announced affordable online higher education for individuals across India, wherein any learner would be able to start university-certified Degrees, Certificates and Diplomas, at an initial payment of INR 10,000 per month. To further support the initiative, upGrad is also providing easy financing options in partnership with the leading EMI partners, to enable India’s workforce to face the increasingly competitive job market. It also brings Global MBA programs in partnership with the renowned Deakin University and Liverpool John Moores (LJMU) at 1/10th of the offline cost, without requiring professionals to quit jobs or move out of their comfort zones.