The latest survey result suggests that a university degree has lost its value as graduate numbers have exploded, despite the significant cost to both students and the Budget.
In Australia, higher education is no longer about boosting the nation’s productivity; it's only teaching as many students as possible to accumulate fees through the Commonwealth government’s HELP/HECS scheme, as well as from overseas students.
The largest-ever survey of Australian employers and employees about the quality of higher education reveals that the class of graduates at some of the prestigious Universities had failed to meet standards. University students are also not satisfied with the teaching in their courses.
Many employers think that the new graduate applicants often do not have employability skills that they want.
The Productivity Commission’s recent report showed that employment outcomes for full-time graduates have been declined:
More than 333,000 students graduated from Australian universities last year. Higher education will receive about $17bn in federal support this year. Universities have also come under attack in recent years for paying lavish salaries to administrators.
Source: Productivity Report
