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In many developed countries, a high proportion of the population (up to 50%), now enter higher education at some time in their lives. Higher education is therefore very important to national economies, both as a significant industry in its own right and as a source of trained and educated personnel for the rest of the economy.

There can be some disagreement about what precisely constitutes post-secondary, graduate-school, or tertiary education: "It is not always clear, though, what tertiary education includes. Is it only that which results in a formal qualification or might it include leisure classes? In the U.K., are A-levels tertiary education as they are post-compulsory, but taught in school settings, as well as colleges? Is professional updating or on-the-job training part of tertiary education, even if it does not follow successful completion of secondary education?".