This is according to Mike Jackson, chief executive officer at PPS, the financial services provider focused on graduate professionals, who notes that one of the key reasons for the high drop-out rate is financial constraints: "The cost of tertiary education has increased hugely in recent years and has clearly become a major obstacle to young learners. It is critical that Government and business work together to identify ways to assist students who are capable but lack the necessary funding."
He says programmes such as bursaries and scholarships can make the difference between the young talent of today succeeding or not in their chosen career path: "We must acknowledge that South Africa has a huge need to upskill more of its young people yet in many cases, these very people are simply unable to afford the tuition fees."
Jackson says a further result from the DHET survey found that another key factor in the high drop-out rate is a lack of academic preparedness and lack of support from their universities, with the highest failure rates in those subjects that contain a mathematics component.
South Africa's professionals have previously expressed widespread concern about the quality of education being provided in general, as well as the lack of interest in science and mathematics related subjects by new learners.
Results from a 2013 survey of 6000 graduate professionals conducted by PPS revealed that respondents had a confidence level of only 43% in the standard of education in South Africa over the next five years - the lowest result for this question since the survey's inception in January 2011. Furthermore, 96% cited concern about the lack of mathematics and science graduates in South Africa.
"Many of the skills shortages that we currently face in South Africa are in professions that require a mathematics or science degree, so it is critical that we address the reasons for fewer people opting to study these subjects, as a reduction in the number of graduates in these fields now will lead us to an even greater skills shortage in the future," says Jackson.
In conjunction with a greater emphasis on the quality of teaching being provided at a basic education and matric level, we also need to ensure that the students who do progress to tertiary level are fully equipped and have the necessary support from their institutions to cope with the workload, says Jackson.
"There are many important issues that must be addressed in the South African higher education sector in order to improve the graduation rate but ultimately any success must come from greater collaboration between the public and private sector to upskill learners, as well as providing the necessary funding to ensure they are able to complete their studies," concludes Jackson.
For more information, go to www.pps.co.za.
