A degree gives boost to wallets and wellbeing

A degree is good for your bank balance, health and general quality of life, according to two surveys. Graduates are more likely to own a home, and the average value of that home tops £150,000 compared with an average of just over £100,000 for non-graduates, according to a poll commissioned by the Department for Education and Skills.

Graduates are also more likely to have a car and to climb the corporate ladder twice as quickly as non-graduates.

A second study, by the Institute of Education, found that graduates are 16 per cent less likely to smoke than non-graduates. They are also more likely to have voted in the last general election and to be involved in voluntary groups.