£180,000 return from graduation
Educating youngsters to degree standard boosts the UK’s coffers by tens of thousands of pounds per student, new research shows.
But the economy could be damaged if the UK fails to produce more highly skilled workers, according to a report commissioned by the University and College Union (UCU).
The study shows the UK benefits “substantially” from individuals gaining higher qualifications. Overall, the government gets £180,000 more back from a graduate over their working lifetime.
The study by the Institute for Public Policy Research (IPPR) also found there are still great personal benefits from gaining higher level qualifications.
An individual with a degree can earn £98,000 more over their lifetime compared with someone with only two school-based qualifications. “We have seen the attainment of higher-level qualifications provides a significant boost to the UK economy,” the study concludes.
“The ‘graduate premium’ has also held strong at £98,000 despite a rising supply of graduates in the workforce.”
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Tuesday 21 May 2013
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