Education - The Money Trap !

All around Australia a generation of young people have ended their school years and are facing that momentous decision of  "What's next ?    There is little doubt that they have been exposed to a tirade of advice from parents, school counsellors, the media that this is now the age of qualifications.  The days of earning a good living with just the school leaving certificate - are over !

Just before Christmas those all important ATAR scores were published and the grade achieved opened the door to university entrance for many.   Only those in the highest echelon would gain admittance to the coveted ranks of those studying medicine and law but lower ATAR's  offer opportunities in a huge range of other studies.

Those weighing up the rewards of a university degree know that most of the cost of study will be absorbed into a HECS type loan from the government and that will automatically become repayable when their earning level reaches a nominated stage.   They will struggle with living expenses, but this is offset by the expectation that a degree will elevate them to a higher earning income career.

Those making a choice other than their intended line of study need to be very careful. Is that profession in decline and being replaced by more modern technology ?   Is it offering job opportunities, or is this a qualification in over supply ?   And most importantly, is this line of study in keeping with the students ability and interest  ?

Unfortunately our universities are experiencing a calamitous drop-out rate.   Those who fail to finish their course are still liable for the HEC debt and this will be collected by the tax office whenever their earnings reach pay back level.   They suffer the double whammy of no degree and a big debt owing.

We now have a host of private colleges and study institutions offering enrolment in competition with the universities.  Many of these are "for profit " and most are government accreditted and offer HECS approved finance.   It is not unknown for such institutions to encounter financial difficulties and close their doors.  Students find that they are unable to continue their course, but are still subject to that HEC debt owing.  It is the worst of both worlds.

Unfortunately, a divisive imbalance in respect still exists between "the "Professions "and  " Trades  ".   Reduced to its basics it is a choice between "white collar "or "blue collar "jobs, and yet the financial returns for those providing service industries now usually delivers earnings beyond many white collar professions.

It is an axiom of reality that we humans are either suited to work with our heads - or work with our hands.  The opportunities to earn a degree have advanced as sharply as the opportunities to develop trade skills have withered.  Apprenticeship opportunities have declined and we no longer offer the range of work choice training in what used to be called "Technical Colleges ".

The building industry is crippled by a shortage of qualified technicians.  New home construction is held up by a shortage of bricklayers.  The rate for laying bricks is reaching astronomical levels. Those facing the conundrum of what and where to study would do well to widen their horizons.  A university degree is not the only way to earn a better living !