Cost of Post School Disengagement
- John Hogan
- 2 days ago
- 1 min read
"Can you advise me of the real cost of a young person staying at home after finishing their schooling and not going on to study or train? My son started a tertiary course this year but dropped out due to a lack of interest."
I received the above question a few weeks ago and thought it may be useful for parents/carers and young people themselves, who are concerned about the practical financial issues around dropping out or not engaging in post school tertiary study or training.
It is interesting and more than a little sobering (!) to look at the real costs to families and the young person when s/he 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 in Australia 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 cost of disengagement from post school 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.
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