As we enter the holiday season many young people are no doubt beginning to consider their future options. With a range of paths to pursue, a and a higher education sector it may seem logical to wonder if university is worth it.
In my role as president of York University I see these issues play out every day in the lives of my students and faculty. However, I can say with certainty that, yes, university is worth it for both students and society. And while you might think that I might be biased, there is real data to back it up.
Simply put, going to university enriches both students and society over the long term. We must ensure that students and universities are supported to help ensure as broad access as possible.
Long-term benefits
While many students entering the market fresh out of university will make entry-level wages, the reality is that . Those with a bachelor’s degree earn 24 per cent more than the national average. The more education, the higher the earning potential.
Students with a university degree are more likely to have stable employment even amidst economic disruption, . Graduates are also more likely to gain employment that offers a wider range of benefits. Simply put, an education increases one’s chances of finding fulfilling employment and living a longer and healthier life.
Beyond individual benefits, there are also key benefits to society. Canada . Further
To quote Nelson Mandela: “.”
The world faces a host of wicked problems ranging from economic inequality to climate change, geopolitical conflict and ongoing wars. Universities and graduates play a key role in addressing these challenges.
Training resilience
Technology is not going away and it is not slowing down.
A recent study revealed that the jobs of more than . Moreover, an estimated one out of 10 employees in Canada could be at a high risk of automation-related job redundancy. Canada’s already volatile job market will continue to be impacted.
Those with . Graduates are also more likely to have the transferable skills needed to withstand workforce disruption.
, AI technologies pose less of a risk for highly-skilled workers. In fact, their jobs are less likely to be replaced by automation because they possess the critical thinking skills needed to provide oversight to tasks that use AI and automation. While these technologies are sophisticated and becoming even more so each day, they currently cannot replicate human cognitive, critical and decision-making skills.
There is also compelling research that shows to upgrade and reskill, a quality that makes students more agile in a shifting labour market.
Universities have also been increasing , programs which help learners re-skill while they are holding employment and balancing familial obligations, to support lifelong learning and build a more resilient Canadian workforce.
Ensuring access
If Canada is to meet the expanding needs of students and of the country then we must invest now in higher education. Access is something I worry deeply about to ensure that we are not leaving any talent behind.
Data from the indicates that 48 per cent of first- and fourth-year undergrad students at York came from households where neither parent held a bachelor’s degree. What’s more, York’s revealed that 59 per cent of students could not have attended university without financial support.
Creating accessible educational opportunities for diverse learners to develop responsive skills is critical for a vibrant future workforce and for resilient communities. York and other universities in Canada have a good track record for this.
At the same time, . Continuing to ensure that eligible students have access to university education including at the graduate level is imperative to address these trends. The significant numbers of Canadian .
These are troubling trends which Canadian universities are committed to addressing.
Investing in universities
While the commitment and innovation of universities is evident, the unfortunate truth is that universities across much of Canada have seen a steady decline in real dollar funding for years.
In Ontario, . To meet the changes in Canada’s labour market, . We have also worked to enhance access through flexible teaching formats and . Universities have also .
In short, universities in Canada are one of the country’s most important assets. If we are to continue delivering the high-quality education for which we are known and serving the needs of the communities who rely on us, especially given fierce global competition for talent, it is essential that we secure a financially sustainable model for universities.
Canada’s high youth unemployment has many people anxious about how they will fare in a job market that bears a striking resemblance to the Hunger Games. Expanding employment opportunities is necessary and will require collaboration across all sectors. But the data are clear. A university education will provide our youth with a running start and the ability to adapt as they go.
Rhonda Lenton is chair of the Council of Ontario Universities.
