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Financial rewards of degree delayed

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Published: April 24, 2006 at 12:11 AM

LONDON, April 23 (UPI) -- University graduates with three-year degrees in England and Wales will be 33 years old before they earn more than those who began work at 18.

The break-even point is reached after 12 years of full-time work. Five years ago, graduates reached that point at 28, The Observer reported.

This dramatic change is likely to make more and more A-level students ask about alternatives to university, said the author of the research, Peter Brown, director of Gabbitas Educational Consultants.

If a two-year degree were offered, graduates would realize the financial benefits when they reached 29, the study showed.

Critics were quick to defend the benefits of studying.

"Going to university is about more than earning money. It is about getting involved in student life," said Julian Nicholds, vice president of the National Union of Students.

A graduate can still expect to earn more over a lifetime than someone without a degree, government figures show.

The average graduate will earn over 100,000 pounds ($175,000) more than someone who just had A-levels, said Bill Rammell, the higher education minister.

Topics: Bill Rammell, Peter Brown
© 2006 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.

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