Money Blogs - the latest posts from our money team

That was the heading of a media release put out by the Brotherhood of St Laurence yesterday and it is in response to the latest findings from a twenty-year study that they are running called the “Life Chances Study.” It’s a great read.

Currently up to year 18, they have tracked the experiences of one hundred and thirty-eight young people since birth and have found that, to quote the report: “family income remains a major barrier to social inclusion in education.” In other words, the higher the family income, the greater the chance that the kids will get their educational qualifications. Specifically, the study found that:


•      98% of 18 year-olds surveyed in high-income families had completed VCE (it’s a Victorian-based study), and 86% in medium-income families.
•     In contrast only 44% of 18 year-olds in low-income families had done the same, although a further 15% per cent of young people from low-income families had completed other Year 12 qualifications and 15% per cent were still at school planning to complete Year 12.
•    Overall though, 26% of young people from low-income families had left school early, but no 18 year-olds from high-income families had left school without finishing VCE.