<p>Is it Oxford and Cambridge, or Harvard and Yale? A dilemma of Atlantic proportions! The former have the patina of history, the glamour of tradition and the mythology of heritage attached to them. </p>
<p>The latter are no less historic, at least in American terms, and the Ivy League institutions have a lot of cachet around the world, but are still New World when compared to Oxbridge. Oxbridge had brand value of the rare kind. Now, it seems the old brands are losing out. </p>
<p>The pick of the faculty has moved stateside because of better salaries and, most of all, the flexible nature of the American system, where you can mix subjects like dance with physics. Not surprisingly, even British students have begun to prefer American universities, not the least because it helps them tap into the American economic system. </p>
<p>No wonder around 80,000 Indian students are enrolled in US institutions; this is followed by Australia and only then Britain, once the first choice for eager Indian parents wanting that Oxbridge degree for their children. </p>
<p>There is a lesson for India in this. The Indian higher education system has been remarkably moribund where creating new institutions of excellence are concerned. Private institutions for higher professional education are more often than not degree factories. </p>
<p>The governments rules do not easily allow setting up universities. But enlightened private sector involvement can go a long way in setting up endowments to create fine institutions. The American example shows the way. </p>
<p>A high price tag often comes with exclusivist branding, even though Oxbridge is supposed to be all about intellectual rigour and standards. Oxford and Cambridge went down the garden path as it were, and priced themselves out of the market. Bright British students who do not have enough money to pay their way through are looking beyond Oxbridge. The American system is dynamic and geared to attracting the best and the brightest. </p>
<p>The Oxbridge brand in contrast has begun to look a bit mouldy. The two universities were supported through royal endowments through the centuries and education, at least for British students, cost very little. That changed sometime in the 1980s when the Thatcherite revolution opted for a ruthless market economy model. Starved of funds, they were forced to look to taking in more foreign students who paid higher fees and also had to resort to raising the tuition fee. </p>
<p>But it is not only about the money. American universities offer much more nowadays compared to other institutions around the world. Corporate funding and alumni endowments allow higher scholarships and bursaries to be given to students. </p>
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