In today's world of rapid technological and social change, university education has become essential. University education is regarded as a turning stone toward realizing one's potential and achieving one's goals. It is necessary to determine the true worth of university education. This essay argues that a university education benefits the individual, the economy, and society in several ways. The report focuses on public participation, tax revenues, tolerance, well-being and satisfaction, economic freedom, and lower crime rates as significant benefits of higher education. To justify these advantages of university education, the essay draws on a variety of sources.
Significant Benefits of Higher Education
One of the main benefits of higher education is that it allows graduates to become more active in their communities. According to Norton (2012), graduates in Australia are more likely to read newspapers' political content after considering the other factors that may affect political interest. Norton (2012) also points out that graduates are more likely to correctly answer questions about the political institutions in the country compared to non-graduates. In addition, graduates are more likely to be members of institutions that pursue political or civic roles. Examples of these institutions include human rights groups, animal welfare groups, trade unions, and political organizations. These assertions are supported by DeClou (2014) who notes that university education is associated with engagement in civic practices such as charitable giving, volunteering, and voting. According to the author, university graduates with higher income levels were found to be more likely to volunteer compared to high school and college graduates. From these findings, it is evident that university education contributes to higher civic engagement. It is important to note that civic engagement plays an important role in society. With higher civic engagement, members of society can understand the political processes in the country and therefore elect candidates that have the best interest of the society at heart. Therefore, university education contributes to increased civic engagement which is valuable for a better society.
Contribution to the Economy
University education is also valuable to the economy because it contributes to higher tax revenues. As informed by Norton (2012), the income of graduates is above average and what this means is that they pay more taxes to the government. As such, this is a public benefit that university education offers. The tax revenues that the government receives from taxing graduates are used for other public benefits. According to Norton (2012), it is approximated that a median female graduate pays $240,000 more in taxes. On the other hand, the male median graduate is estimated to pay approximately $360,000 more in taxes in the course of his lifetime. It is evident that university education contributes to higher revenues to the government in the form of taxes. Such government revenues are beneficial to the whole of the economy since they are directed to significant expenditures. As such, it contributes to the building of the economy. University education, therefore, leads to an increase in tax revenues that is beneficial for the economy.
Promotion of Tolerance
Tolerance is another major benefit that comes with university education. More university-educated individuals translate to a more tolerant society. Tolerance is significant in multi-faith and multi-ethnic societies (Norton, 2012). Norton (2012) points out that graduates are more likely to agree to the idea that it is valuable for the society to comprise different cultures compared to non-graduates. The author, however, notes that university education may not contribute to higher tolerance if it does not lead to higher social interaction. In this sense, online education may not contribute to high tolerance as on-campus education. Norton (2012) also postulates that graduates express a higher level of acceptance towards religious and ethnic groups. From the assertions of Norton (2012), it is deducible that university education can increase the tolerance of individuals. It can lead to a society that is more tolerant of people belonging to different religious and ethnic groups. In a world that is more interconnected than ever before due to globalization, tolerance is a value that needs to be nurtured. People can now move and work in other countries easily as distances between countries are reduced with improved transport systems. Therefore, tolerance is an essential value in society today. Given that university education promotes tolerance among the graduates, it is deducible that it adds an invaluable contribution to society.
Impact on Health and Happiness
University education also plays an instrumental role towards the health and happiness of members of society. According to DeClou (2014), the relationship between education and health is positive, and the more educated a person is, the better their health as well as that of their family members. Also, a high education level of parents translates to better health of children. The variables of health that are related to education are mortality, physical health, and psychological well-being (DeClou, 2014). The same applies to happiness and satisfaction with life. There is a positive relationship between education and happiness. People that are more educated are happier compared to other members of society. According to DeClou (2014), when individuals were asked to rate their mental and physical health, university graduates were found to have higher ratings than respondents from other educational levels. This means that they are happier compared to individuals with other educational levels. In addition, according to Perna (2005), the number of individuals that were covered by health insurance increased with the level of education. This means that university education makes individuals conscious about their health. Graduates are thus more willing to take measures for better health. Better individual health is beneficial to the individual and society. It means the individual spends less on health conditions. It also means that the chances of one depending on the family and society for support are reduced. University education, therefore, is valuable since it improves the health and happiness of the members of society.
Economic Independence
Another major benefit that graduates attain from pursuing university education is economic independence. According to a study by Malik & Courtney (2011), economic independence was found to be a strong motivating factor for educational attainment. In the Pakistani society studied by the researchers, women pursued university education for economic independence. This shows that when one goes through university education, there is a high chance that one will attain economic independence. As pointed out by the authors, university education opened opportunities for women in the Pakistani society to access opportunities that lead to economic independence. This is also applicable in other societies around the world. Norton (2012) points out that in Australia, the earnings of graduates are above average. Therefore, graduates have higher economic independence compared to individuals with lower educational levels. These assertions are supported by Baum, Ma, & Payea (2013), who note that individuals that have higher levels of education get more income than others. In addition, they are more likely to secure employment than others. Therefore, not only does higher education increase the chance of one to secure employees, but it also guarantees better income. When more members of society pursue university education, the standards of living are likely to increase due to economic independence. Also, with more people being economically independent, it means there is less dependence on the government for assistance. Therefore, university education is important for the economic independence of the members of society.
Contribution to Lower Crime Rates
University education also contributes to lower crime rates in society. Crime is an issue that derails the progress made in society. According to Norton (2012), higher education may contribute to lower crime rates through opening legal ways through which individuals can earn income. In addition, university education reduces crime rates by occupying the time of individuals and also through the provision of better peers (Norton, 2012). When individuals undergo university education, they spend time gaining knowledge through attending lectures and carrying out research. Therefore, since their time is occupied, they cannot engage in crime. An individual also gets to interact with peers that are focused on education, and this reduces their chances of engaging in crime. There are also lower incarceration rates among graduates in Australia. Of the prison entrants in 2009, only 2% had a degree (Norton, 2012). This is compared to the 23% of the working-age members of the population that had a degree in 2009 (Norton, 2012). Therefore, the chances of graduates facing incarceration are lower than other members of society. This shows that with more graduates, the crime rates can significantly reduce. University education can be associated with lower crime rates since graduates have better access to opportunities. As determined earlier in this essay, graduates have higher chances of securing employment and receiving better income compared to individuals with lower educational levels. Therefore, with more graduates being employed, their chances of engaging in crime are reduced. A lower crime rate is beneficial to the member of society as they can live without fear. A study by Edmark (2005) found unemployment to be positively related to property crimes. Therefore, given that university education increases employment, it is deducible that it can also lead to lower crime rates.
Conclusion
In conclusion, individuals today have to pursue university education for access to better opportunities that lead to the fulfillment of aspirations. This essay has argued that university education offers a myriad of benefits to the individual, the economy, and society. Through an examination of literature, the essay has examined the benefits of university education. University education leads to greater civic engagement among people, which is necessary for voting in the right political candidates. The government also receives higher tax revenues with more graduates. University education has also been shown to contribute to high tolerance among individuals which is an invaluable virtue in today's society. In addition, this essay has shown that university education contributes to health and happiness among the members of society. Finally, with university education, individuals get to experience economic independence while the society benefits from lower crime rates. Therefore, the value of education for the individual, economy, and society should not be underestimated.
References
Baum, S., Ma, J., & Payea., K. (2013). Education Pays, 2013: The Benefits of Higher Education for Individuals and Society. Trends in Higher Education Series. College Board .
DeClou, L. (2014). Social Returns: Assessing the benefits of higher education. Toronto: Higher Education Quality Council of Ontario.
Edmark, K. (2005). Unemployment and crime: Is there a connection? The Scandinavian journal of economics , 107 (2), 353-373.
Malik, S., & Courtney., K. (2011). Higher education and women’s empowerment in Pakistan. Gender and Education , 23 (1), 29-45.
Norton, A. (2012). Graduate Winners: Assessing the public and private benefits of higher education. Grattan Institute.
Perna, L. W. (2005). The benefits of higher education: Sex, racial/ethnic, and socioeconomic group differences. The Review of Higher Education , 29 (1), 23-52.
