Can you afford not to go to university?

The rising cost of tuition fees in some countries has led many to question if a university education is worth the investment.

Despite those increased costs, along with the student debt that often accompanies them, not obtaining some level of higher education can in fact be quite costly for millennials. Data from a Pew Research Center survey of 2,002 adults, which was supplemented by an analysis of economic data from the US Census Bureau, shows that university graduates earn on average 62% more than someone with only a high school education.

A lower paying job was not the only consequence of less education. Over 10% of those with only a high school education were unemployed, compared to only 3.8% of university graduates. Those with only a high school education were also more likely to live below the poverty line.

Author: Donald Armbrecht is a freelance writer and social media producer.

Image: Profile of students taking their seats for the diploma ceremony at Harvard University in Cambridge REUTERS/Brian Snyder