The report shows that the gross additional lifetime earnings is now approximately £160,000 or between 20 and 25% more for individuals with a higher education qualification than for those with two or more A-levels.
The main findings include:
·Financial benefit is greatest for men from lower socio-economic groups or from families from lower levels of income
·The rate of return to the individual would be expected to rise from 12.1% to 13.2% following changes to the student finance package arising from the introduction of variable tuition fees
·The benefits associated with HE qualifications increase as graduates get older
·Graduates are more likely to be employed compared to those with the next highest qualification and are more likely to return to employment following periods in unemployment or economic inactivity
·Significant costs associated with higher education are borne by the state
The report looks at a number of factors when assessing the benefits of a higher education qualification, including gender, socio-economic group and subject of qualification. The benefits are also discussed in the context of a wide number of non-financial benefits such as health, reduced crime rates and social cohesion.
Diana Warwick, Chief Executive, Universities UK: “We already know that graduates in the UK enjoy one of the highest financial returns of any OECD country. This report provides evidence that despite the expansion of higher education, the graduate premium has been maintained. Higher education is still clearly a worthwhile investment for the individual.
“While we know of course that the vast majority of graduates don’t measure the value of their degrees in purely economic terms, the enhanced career opportunities and employability that a degree brings is nevertheless a key factor in deciding whether to go on to higher education.”
Professor Drummond Bone, President, Universities UK, added: “This report also highlights the economic benefits of higher education for our wider society. As such, it adds to the evidence put forward in our submission to the Government’s Spending Review 2007, supporting our call for continued public investment in higher education.”
Ian Morton | alfa
The RWI/ISL-Container Throughput Index started off well in 2018
22.02.2018 | RWI – Leibniz-Institut für Wirtschaftsforschung
RWI/ISL-Container Throughput Index ending 2017 on a positive note
24.01.2018 | RWI – Leibniz-Institut für Wirtschaftsforschung
For the first time, an interdisciplinary team from the University of Basel has succeeded in integrating artificial organelles into the cells of live zebrafish embryos. This innovative approach using artificial organelles as cellular implants offers new potential in treating a range of diseases, as the authors report in an article published in Nature Communications.
In the cells of higher organisms, organelles such as the nucleus or mitochondria perform a range of complex functions necessary for life. In the networks of...
Animal photoreceptors capture light with photopigments. Researchers from the University of Göttingen have now discovered that these photopigments fulfill an...
On 15 March, the AWI research aeroplane Polar 5 will depart for Greenland. Concentrating on the furthest northeast region of the island, an international team...
The world’s second-largest ice shelf was the destination for a Polarstern expedition that ended in Punta Arenas, Chile on 14th March 2018. Oceanographers from...
At the 2018 ILA Berlin Air Show from April 25–29, the Fraunhofer Institute for Laser Technology ILT is showcasing extreme high-speed Laser Material Deposition (EHLA): A video documents how for metal components that are highly loaded, EHLA has already proved itself as an alternative to hard chrome plating, which is now allowed only under special conditions.
When the EU restricted the use of hexavalent chromium compounds to special applications requiring authorization, the move prompted a rethink in the surface...
19.03.2018 | Event News
16.03.2018 | Event News
13.03.2018 | Event News
19.03.2018 | Event News
19.03.2018 | Information Technology
19.03.2018 | Interdisciplinary Research