So, education is really important. It's the best possible investment you can make for your future. A bachelor's degree is supposed to pay off far more than share investment and real estate investment and as an 18 year old, it's realistically probably one of the very few investments you can properly make (as in, you could enter the share market, but you probably couldn't afford many shares, and it's unlikely that you could buy a property). Here's a source for this:
http://www.smh.com.au/national/education/uni-degrees-never-sleep-and-leave-sharemarket-in-the-shade-20100830-147eh.htmlHOWEVER, the 'myth' that we're always fed is that grades matter, where you go matters - it's supposed to follow you around no matter what you do. Because you failed that one subject, you'll never get into X top tier firm, or because you went to X university, you will never get a high paying job. It's lies! All lies!
I've already gone through the experience of having my high school marks not matter anymore. Nobody cares about them, nobody wants to see them. I had to get really good marks to get into the university course I wanted. But that's all it was - a ticket you can only use once.
When you graduate from uni and go into the jobs market, it's almost the same deal, except uni marks are a tiny portion of the ticket. They care if you fail a lot, and they care a little if all of your marks are HDs/H1s, but that's about it. So, anywhere in the grade range of pass to distinction won't be enough to exclude you from a position, nor is it enough to give you a guaranteed anything. I was talking to someone from the careers centre at my university who said that she often has to counsel distraught individuals who didn't get that internship or that clerkship, or even that grad position and couldn't understand why, because their grades were high. Apparently, they care about extra-curricular activities and experience in the field and whether or not you interview well than grades.
Moreover, while a lot of graduate job applications will ask for academic transcripts, not all do and certainly, by the time you're applying for your second job, they care only about the piece of paper saying you have the degree - nobody even asks to look at them. Again, your uni transcript is a ticket you only really use once, if ever.
I'm not saying that education doesn't matter, it obviously matters a great deal. However, all this toiling to get the grades you think you need, or that you're told you need, to do well in life isn't for a whole lot. That doesn't mean that you shouldn't do your best or be happy with barely passing, but it does give you some idea of how much this all matters in the very big picture, which is: very little.