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The phrase has meaning at both the society's view and the individuals.

As a society if we fail to spend on education we will have to spend even more due to unemployment, crime, and bad decisions made by uneducated citizens that impact the society as a whole.

As an individual, the costs of not having an education include fewer job choices, lower pay, and decreased ability to make decisions of all kinds that can reduce the quality of your life in many ways. Without math education, for example, you wuold have a more difficult time choosing product to buy that give the best value. You may have to pay others do do a simple tax return for you. You may be overbilled and not know.

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