IS STUDIES IN INDIA RESERVED FOR RICH?

One of the most expensive and money making field in India as of now is education. Especially Fee for the courses like B.E, MBA etc… has hiked enormously in the past two years. I’m a B.E final year student and four years ago the fee structure was fixed around 45000 to 60000 per annum depending on the college we get in. But now a student getting into a self-financing Engineering College need to pay nearly 1 lack as FEE (If management seat, then additional charges apply*).This does not restricts to the self financing colleges alone. The recent hike in the fees of IIMs would serve as a best example. IIM-B doubled its fee while IIM-A increased nearly two and a half times. A massive hike from 4.5lacks to 11.5 lacks has made many of the middle class IIM aspirants of this country think twice. Though Education loans are offered, its interest rate is around 11 to 12%. What could be the possible reason for education turning “difficult” to middle class and a “dream” to poor? Do express your view.