Pakistan, July 10 -- For decades, Pakistani parents believed in a simple promise: educate your children and their future will be better than yours.

It was the foundation of the middle-class dream. Parents sacrificed their comfort, delayed their own wishes, sold assets, worked extra hours and spent a major part of their earnings because education was considered the safest investment. A degree was not just a piece of paper. It was viewed as a guarantee - a respectable job, a stable income, a house, a car and eventually financial independence.

For an earlier generation, this formula largely worked.

A young professional entering the workforce could slowly build a life. Salaries were modest, but expectations were realistic. Savings graduall...