New SRDC Research Examines the Economic Impacts of Postsecondary Education (PSE) Non-Completion in Ontario
February 4, 2026
By SRDC-SRSA
In partnership with the Higher Education Quality Council of Ontario (HEQCO), SRDC has released new research examining the economic impacts of postsecondary education (PSE) non-completion in Ontario.
Ontario’s PSE non-completion rate remains high. Previous research by SRDC and HEQCO found that 24.7% of students do not graduate within seven years of entering PSE. Initially after leaving PSE, those who do not complete a credential earn roughly 50% less than graduates. Beyond individual outcomes, non-completion carries broader costs: postsecondary institutions lose funding, governments do not realize the full return on public investment, and employers face persistent skills gaps in the workforce.
To better understand these impacts, SRDC conducted a detailed cost-benefit analysis comparing three pathways: individuals who start PSE but do not finish, those who complete a credential, and those who do not attend PSE at all. The findings are presented in Net Costs of Postsecondary Non-completion in Ontario: A Benefit–Cost Analysis for HEQCO, which quantifies the net costs of non-completion and highlights the benefits that are lost when students begin but do not complete their studies.
To support the application of this research, HEQCO has produced a brief explaining SRDC’s cost–benefit analysis framework, as well as a blog post and an infographic exploring the benefits of PSE completion for students, governments, and society. Together, these resources provide a clearer picture of the value of postsecondary education and the consequences of non-completion in Ontario.
To learn more: https://www.srdc.org/project/net-cost-of-postsecondary-non-completion-in-ontario/
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