3.3.2. Overeducation in India

India had been the pride of British colonialism. Mohandas Gandhi organized early protests for independence, exhibited patience and support for the Empire during WWII, and became a spiritual leader in the struggle for independence after the war. His writings on nonviolence [88] inspired the Civil Rights movement in the US. After his undergraduate education in India, he obtained a law degree in England and went to South Africa, where he started organizing Indians using nonviolence. His educational journey from India to England was not uncommon for upper-caste students in India in the late nineteenth century. Colleges and universities continued developing in India in the early 20th century. By 1980, India had an over-educated population for the nation's employment capacity, especially before economic globalization [89].

The financing of education in India has continued with the traditional model, and India exported educated professionals through the late 20th century. Financial aid also ensures access, especially for students of the untouchable caste [90]. With its surplus of educated citizens, India was well-positioned for the early global economic boom. The process of decentralizing production took advantage of low-cost labor. The English-speaking education tradition aided the decentralization of the service industry. As industrialization continued in Asia, India's economy fell behind China [91].

The transition from a British colonial economic system to a market-based economy and the education system of the neoliberal period has created growing problems for higher education in India. Students coming from rural areas and attending lower-quality institutions are not repaying loans, sometimes willfully [92]. The expansion of higher education has been chaotic and unplanned, adding to the complexities of the market. India has public, public-aided private, and private colleges. India is also a federation of states with different educational and economic policies. College costs are a factor in college choice for high-merit students, but middle- or low-achieving students can end up in high-cost colleges with high loan burdens [92,93]. Thus, students' social contexts have become an increasingly important issue in the market system of higher education, adding substance to arguments that the system needs reform.

#### 3.3.3. Alternative Narratives about Globalization Strategies in Southeast Asia

The "Washington Consensus" advocated student loans to expand higher education. There are two narratives among South Asian nations, one that embraced the Washington Consensus, and the other resisted adherence to this neoliberal vision.

The Association of Southeast Asian Nations (ASEAN) was formed in 1967 to promote technical education and economic development in Malaysia, Thailand, Singapore, and Taiwan. Known as "ASEAN Tigers," they engaged in the first period of global industrialization (starting about 1980), creating alliances with international corporations to manufacture products for export in the early supply chain. Thailand embraced student loans to provide access for high-poverty students, but there is now a concern about the needs of groups marginalized by the policy [94]. Medical educators in Singapore have concerns about the limitations of career choices for graduating doctors [95]. Scholars in Malaysia have begun to explore why low-income students form the intent to default on loans, a growing problem in the nation [96]. Like the developed nations in the Pacific region, ASEAN nations have discovered new challenges after following the Washington Consensus on higher education development.

Other nations have been slower to embrace loans; their national strategies seem linked to national cultures. In a country caught in a swirl at the edge of Islamic fundamentalism and Middle Eastern wars, Pakistani policymakers questioned the viability of using student loans to expand college access [97]. With forethought, one recent Pakistani study examined how personalities (e.g., extroversion) related to students' financial planning [98], an issue related to the eventual implementation of loans. Following the lead of Thailand and Korea, the Philippines developed a financial assistance strategy in 2016 to provide adequate funding expansion. Evaluators hope to monitor implementation to ensure "justice" prevails in the transition from free colleges in the Philippines [99]. The research on loans in South Asian nations reveals cautionary inquiry into the strengths and limits of loans.
