Since the rise in tuition fees across many of the UK’s universities in 2012 of up to £9,000, and graduates commonly facing over £30,000 in debt, the question of whether or not to go to university has never been more difficult. But another question is also becoming increasingly pressing for those who choose the university path: is it really worth it?
The first thing to note is that for “career-oriented” undergraduate degrees – such as nursing, law, dentistry, and veterinary science – wherein a degree is a prerequisite in entering the field, a degree is a necessity. Whilst the cost is high, the rewards can be great. However, for “non-vocational” degrees – such as history, maths and the arts – the looming debts combined with the competitive job market mean that many students believe their courses are really not worth the money.
In a recent survey, 48% of parents think that university education is poor value for money in the UK – compared to 72% in Taiwan and 42% in the USA – and 48% of those who believed it was poor value for money felt that university does not teach skills that are applicable to the “real world” and 45% believe that a degree fails to enhance job prospects. However, with regards to concerns about the “real world” this, again, undeniably relates more to non-vocational degrees. The survey statistics may represent the split between parents of students studying “career-oriented” degrees compared to “non-vocational” degrees, with parents of the latter being more dissatisfied.
One of the reasons that some students feel they are not getting the most from their fees, is due to the competition in the job market. Gone are the times when a degree and a positive outlook alone could secure you a job. Graduates are now encouraged to – alongside their degree – pursue a part-time job, undertake unpaid internships, do regular voluntary work and maintain a good array of hobbies and extracurricular activities. Even with a collection of these skills on their CV, getting a job is still difficult; and getting a job with a salary high enough to start paying off the student debt is next to impossible. A ‘standard’ undergraduate degree is, it seems, no match for the increasingly competitive job market.
58.4% of students in a recent survey who were questioned (who were paying the full £9,000 tuition fees) did not feel that their first year of study was worth the money it cost. Largely, this sentiment seems to have stemmed from the fact that the first year of university study (for the majority of subjects) does not count towards your final degree mark. For a long time, the first year of university has been reserved for soaking up the university “experience”, getting to grips with the new lifestyle and having a more gentle introduction to degree-level study. However, the surveys indicate that students would be willing to ‘trade’ their year of relative freedom for more contact time with tutors and some evidence that their money was being well utilised. With courses such as the PGCE or PGDE for aspiring teachers gradually decreasing in popularity due to the increased availability of school-based initial teacher training (ITT), are we witnessing the rise of graduates who would rather learn on the job than in the lecture hall? David Ellis, writing for The Telegraph, writes that “the message to universities is clear: sharpen the courses, increase teaching standards and offer more support”.
However, some positive news has come from the surveys. Despite over half of students believing that their first year was not worth the fees they paid, the majority of these students still said that not only do they not regret it, but they would still do it again should they have the choice. Furthermore, surveyed students also said that they would continue to recommend university to their peers. Therefore, it seems that despite the rising cost in fees and concerns over contact time with their tutors, you really can’t put a price on the university experience.
Interested in where you can find the best value for money education? Read this countdown list from the The Telegraph!
Websites Consulted
Independent article- UK in top ten countries offering poor value for money study
The Telegraph: Do students think it was worth it?
The Guardian: Was your student loan worth it?
The Telegraph: Top 10 value for money universities
BBC: Degree courses not value for money
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