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Debt And Low Job Prospects Aren't Putting Aussies Off Uni

Is it worth it?

Debt And Low Job Prospects Aren't Putting Aussies Off Uni Image: Pexels

Aussies across the nation are signing up in their droves for university, despite growing levels of student debt and no guarantees of a weekly paycheck after graduation.

As many Year 12 students kick off their HSC exams today, has reported some pretty sobering stats from a national job website – that around 46 graduates are currently fighting it out for every advertised roles in South Australia.

That said, figures released by the Australian Bureau of Statistics reveal one in five Australians aged 15 to 64 were enrolled in courses in 2016 – accounting for more than three million people currently in an education program.

So should you actually go to university? Well, Grattan Institute’s higher education program director Andrew Norton said each and every student would have different factors impacting their decision.

“If you’ve done really well at school then going to university is almost definitely worth it,” he said.

“And that would probably get you a reasonably good job and even if it doesn’t do that, it will protect you against unemployment and other very negative outcomes.

“However, if you haven’t done that well at school, there’s a fairly high risk that even if you go to university, you won’t actually finish the course and the financial gains won’t be much different to leaving education at Year 12.”