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One in five university graduates becomes a millionaire

One in five university graduates becomes a millionaire

One in five graduates become millionaires.

One in five university graduates become a millionaire according to a report by the office of national statistics.

The data confirms that twenty percent of all adults possessing at least one university degree now have wealth totalling at least £1 million.

This news will come as a huge relief to students and graduates across the country, with many now having to pay £27,000 to complete their degree following tuition fee increases in 2012.

This massive sum caused many to question whether the worth of a degree outweighed the cost, yet this research shows that university education is still as vital as ever, if not more so.

The figures also reflect this importance by showing the major gap in wealth between those who conduct university education and those who do not. The figures demonstrate this by stating that only 3% of people with no formal educational qualifications have assets worth more than £1million compared to 20% of graduates.

David Willetts, the universities minister said: “The figures are more evidence of why going to university is a very good deal.

“The higher wealth of people with degrees justifies coalition policies to charge higher tuition fees and push more school leavers to go to university.

“It shows why it’s fair to ask graduates to pay back the cost of their education, and why increasing the number of people who go to university will spread wealth and opportunity.”

Adapted from The Telegraph.