New research shows university graduates earn approximately $1.5 million more over their lives than workers who have only completed a high school certificate.
The Government’s Bradley review of higher education is designed to consider university funding, the ability of students to access higher education and the provisions of greater income support.
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“It is estimated that the lifetime earnings of a university graduate are about 70% greater than those whose highest qualification is year 12,” the report says.
“Even after factoring in the cost of forgone earnings while studying, meeting the cost of living and the fact that on average, university students are left with a HECS debt of $20,579, the economic returns over a lifetime for a university graduate are difficult to ignore,” AMP financial services managing director Craig Meller told The Australian Financial Review.