$1.6 million more income for a degree

Universities NZ reports:

New data released today by Universities New Zealand – Te Pōkai Tara shows the value of investing in a degree with a typical graduate earning around $1.6 million more over their working life than a non-graduate. …

“A typical university graduate will earn around $1.6m more over their working life than a non-graduate.  This is much higher for a medical doctor ($4m), professional engineers ($3m) and information technology graduates ($2m), but is still high for arts graduates – with an average earnings premium of around $1m to 1.3m (depending upon subject).

Now think about this. The extra income from getting a university degree is $1.6 million on average. And Labour’s policy is that those who go to university should not pay one cent towards the cost of their study, but instead all taxpayers (including the majority who did not go to university) should pay more in taxes to cover 100% of their tuition costs.

It’s an appalling policy.