University education in Scotland is no longer a guarantee for a good salary, with Scottish degree-holders witnessing a drop in salaries
College-educated employees to the Border’s north consist of one-third of workers, compared to less than one quarter 10 years ago.
However, 10 years ago employees would benefit from approximately 13% of a salary increase per every year of higher education, compared to a considerably lower 7.7% increase today.
A report issued by Aberdeen University reveals that qualifications from higher-education are simply not rewarded as highly compared to how they were in the past.
The report adds that employees who possessed a degree from an institution of higher education tended to have a nearly 40% higher salary than employees who had no degrees or qualifications at all.
This percentage has reduced to approximately 30% as of 2016, and the same sort of decrease is visible to all employees who have qualifications, albeit not to the same extent.
These statistics have been revealed as a proposal to grant Scottish students an income of a minimum of £8,100 on an annual basis, similar to the current system implemented in Wales which allows debt cancellations for individuals who move to universities from colleges.
Increased student loans met with poor reception from opposing parties
Not everyone is looking forward to the new proposed plan, which will cost taxpayers an estimated £16,000 annually.
Those who oppose the proposal are wary of encouraging young Scots to pursue higher education considering that levels of student debt have increased by a staggering 13 percent, and loan balances have doubled in the past 10 years.
The average amount of debt owed for Scottish students was approximately £12,000.
Still, the 13% increase in Scotland is not as high as is in other areas: English students face an average of £32,000 in debt.