THE IMPACT OF GLOBALIZATION ON PRIMARY EDUCATION IN BANGLADESH(4)

Globalization is a process of modernization and the concept is now widely used whole over the world especially excessively practiced by Western nations. However, the concept of globalization has obviously helped the internationalization of education. In this perspective, the following major global educational features are universally recognized:

• International comparison
• Quality of education
• Equity considerations
• Equal opportunity
• Cost and financing of education
• Information communication technology (ICT) and job oriented education
• Development program & classroom effect

PRIMARY EDUCATIONAL PHENOMENON IN BANGLADESH

Bangladesh emerged as an independent sovereign nation state in December 1971 in the place of world map. Before that the foundation of the education system in Bangladesh was laid down during the period of British colonial rule. Thus it shares its educational history with India until 1947 and with Pakistan from 1947 to 1971. After independence, Bangladesh continued to follow the primary education scheme originally established by Pakistan. Later on, right to education has been recognized in its Constitution as ‘Free and compulsory education’ which declares that ‘The state shall adopt effective measures for the purpose of -Establishing a uniform, mass-oriented and universal system of education and extending free and compulsory education to all children to such stage as may be determined by law (Constitution of the People’s Republic of Bangladesh, Article 17).’

Representative APR 391%. Average APR for this type of loans is 391%. Let's say you want to borrow $100 for two week. Lender can charge you $15 for borrowing $100 for two weeks. You will need to return $115 to the lender at the end of 2 weeks. The cost of the $100 loan is a $15 finance charge and an annual percentage rate of 391 percent. If you decide to roll over the loan for another two weeks, lender can charge you another $15. If you roll-over the loan three times, the finance charge would climb to $60 to borrow the $100.

Implications of Non-payment: Some lenders in our network may automatically roll over your existing loan for another two weeks if you don't pay back the loan on time. Fees for renewing the loan range from lender to lender. Most of the time these fees equal the fees you paid to get the initial payday loan. We ask lenders in our network to follow legal and ethical collection practices set by industry associations and government agencies. Non-payment of a payday loan might negatively effect your credit history.

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