This paper argues that education has a measurable impact on well-being, through all the stages of life. This is the fourth of the Inquiry into the Future for Lifelong Learning s thematic papers. Written by Professor John Field, a commissioner for the Inquiry, the paper argues that education has a measurable impact on well-being, through all the stages of life. That impact takes place at different levels: education has a direct effect on well-being, by helping people develop capabilities and resources which influence their well-being; it has an indirect effect, leading to outcomes that in turn allow people to thrive and increase their resilience in the face of risk; and it can have a cumulative effect, by influencing the social and economic environment in which people spend their lives. And the effects on well-being themselves can be collective as well as individual. The papers considers the challenges for learning providers to make more of their contribution to wellbeing; for policy makers and providers to promote wellbeing through collaboration across policy areas such as health, employment, social policy, culture and the arts; and need to develop well founded approaches to measurement.