Higher education pays for itself many times over

The economic evidence is that not only does higher education build the economy’s skills and knowledge, but that it pays for itself many times over. On average, university training in Australia has paid a rate of return of around 14-15%, according to analysis of 2006 and 2011 census data. University research has delivered an average rate of return of 25%. In 2014, university graduates added an estimated $140 billion to Australian gross domestic product (GDP), due to higher labour force participation, employment and productivity. What’s more, education is currently Australia’s fourth largest export