Third-level system paying substantial dividends: Report

Ireland offers its young people greater equality in getting a university education than almost any other developed country — and this has been paying off, according to a study on education across the OECD.

Many of the findings go against IMF advice to cut spending on education and have students pay for courses according to what they are likely to earn, recommendations which sparked anger.

John Logue, president of the Union of Students of Ireland, said: “If implemented, these [IMF] recommendations would see a typical degree in medicine from UCC cost €41,685, while a degree in dentistry would cost €44,795.”

He said student debt in the US was $1tn (€770bn) and in Britain the average student debt was £35,000, (€43,700) while applications for university courses have fallen by 10% this year.

Ireland is one of only nine countries where a person whose parents have only lower-level education are more than likely to go to university. Their odds are 60%, compared to an OECD average of 33% and less than 30% in the US.

They make up 30% of third-level students — a similar proportion to those whose parents have a third-level education — showing that Ireland offers better educational opportunities than almost any other developed countries. More than 40% complete third level — one of the highest rates in the OECD.

ASTI general secretary Pat King said the findings of the report “are testament to the commitment of teachers and schools to equality”.

The report shows Irish graduates earn 80% more than their secondary-educated colleagues — higher than the OECD average.

The cost to the exchequer of providing third-level education is among the lowest at 10%, while the public benefit is double this.

Over his working life a male graduate can expect to earn €300,000 more than a person with second-level education, while for a woman it will be about €232,000.