It is interesting and more than a little sobering (!) to look at the real costs to families when a family member does not commence or continue their higher education or training pathway in preparation for entry into a vocation. Currently around one in four tertiary students discontinue their programs. This is usually due to the individual not having any real idea of which career would suit them best and which educational or training pathway is most appropriate for their needs.
Here is a brief summary of the real costs of disengagement from post school tertiary education or training.
Cost of Disengagement – To Parents/Caregivers
$12,000 pa calculated conservatively at a cost of $230 per week to parents to support their son or daughter.
Cost of Disengagement – To Son/Daughter
$50,000 pa ($960 per week) calculated ‘opportunity cost’ i.e. the minimum amount of money they would have earned in an entry level, low skill job that does not require qualifications or training.
