Dhaka, Jan. 11 -- Higher education in Bangladesh has long been equated with upward social mobility, economic security, and national progress. A university degree was generally seen as a ticket to employment and stability, thus worth the sacrifices imposed upon both families and students. That view shaped public policy, institutional expansion, and individual aspiration. Today, however, this long-standing equation between education and opportunity is increasingly strained.

More university graduates are produced in Bangladesh than at any time in the country's history. Over 0.7 million (seven lakh) students graduate from universities every year, with nearly two-thirds coming from colleges affiliated with the National University. Yet unemplo...