The figures at least include accommodation/living costs along these 3y.. something often bypassed, adding 3 y of study has serious cost:
For a surgeon, IT or engineer..well you need the degree, extra education so it is needed.
I doubt a painter, singer/songwriter or book writer is getting his success thru following a cursus and a bachelor of art.
Do not take me wrong, i am all for knowledge, cartesian thinking, sciences, geo politics, history and as well literature but i perfectly know the output of Australian universities..abysmal, sheeps swallowing any BS, no science background and knowledge restricted to at best a narrow technical field based on degree.
Sadly, i am afraid you are right, to a kid,get a TAFE, and follow the Australian dream..