Need help with question about expected utility of a school leaver

Hi, the question I have asks me to construct a simple model that a school leaver could do to evaluate the costs and benefits of going to University, using the concept of expected utility.

I'm not really sure where to start: it seems to depend on the ability of the student in question. What can I do?

There are links in this thread: http://www.thestudentroom.co.uk/showthread.php?p=62168177&highlight= to current stats on graduate employability (and employers assessments of graduate suitability for the workplace v school leavers) post 8 and 29.

http://www.ons.gov.uk/ons/dcp171776_337841.pdf has some other really useful stats on employment rates - with some really good charts and links to the underlying data

None of these stats differentiate based on ability of the student - if you'd like to build something in allowing for subject choice and background then http://www.suttontrust.com/researcharchive/earningbydegrees/ is a decent place to start

Oh and https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/479559/bis-15-635-freezing-student-loan-repayment-threshold-equality-analysis.pdf is a bit dense but includes stats on how likely students are to repay their loans by different groups of characteristics.