Is studying a degree good value for money? Are fees too
high? Do graduates get paid more than non-graduates? Questions I’ll think about
below then answer at the end of this blog.
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| I used to co-habit with people like this. Some are now political campaigners. |
That was the early 1990s and I was, well, a bit dozy. It’s a
different world now. It’s certainly not 1990 anymore. Today, when considering
whether or not to attend university – and although you’re reading a blog on a
university marketing site, higher education really isn’t for everyone
- decisions about what to do after BTECS and A levels need are often made strategically,
with the head and a focus on future employability more than likely winning out
over the heart, where such conflicts arise. The promulgation of sites like
UNISTATs suggest that evidence and comparisons are made in choosing between universities which have ever improving facilities and offers,
but even before this, there’s the question of whether the benefits of higher
education outweigh the barriers – a question even more prescient for more
mature learners.
Since the early 1990s, fees have increased and the premium
graduates enjoy over non-graduate pay has eroded. The premium is, however,still there, and this, together with unemployment rates lower for graduates
than for non-graduates indicates, to me, that a university education is still
good value, offering life experiences which would otherwise be denied and helping students build friendships and networks. At least it does for those who are good at that sort of thing.
Results of this year’s student experience research by the
Higher Education Policy Institute (hereafter referred to as HEPI) and the
Higher Education Academy (HEA) came in just before the unfolding uncertainties
following the country’s weird decision to BREXIT. But this was already a time
when the Government was considering whether, in certain circumstances, to allow
some institutions to increase fees in line with inflation and so put further
pressure on the value of degrees. The findings from the research - not surprisingly - was a strong resistance to any fees increases.
Some prospective students will find fee differentiation
useful as, rightly or wrongly, judgements are made accordingly. Others
will be bemused by increased fees which will mean more of a tough decision for
those who are debt averse. Given this and other changes in higher education, the widening participation agenda increasingly looking under threat. Luckily for us at Bedfordshire, we're confident that our portfolio and initiatives designed to get you ready for work and our student experience initiatives including our Go Global scheme significantly enhance our value offer.
And now, as promised, my views on the questions posed at the
beginning of the article.
- Yes, of course studying for a degree is good value for money. And remember you don’t have to start paying back fees until you earn at least £21,000;
- According to the HEPI and HEA research, fees are too high; but going to university, whether it’s in a far off location or on your doorstep, can be an amazing experience and provide superb opportunities to see the world and the chance – in 2016 compared to 1991 - to stay in wonderful accommodation. So much more, in fact, than just a degree;
- Yes graduates are paid more than non-graduates, even if there’s been some erosion in the graduate premium over the last few years. Bedfordshire students are also encouraged to develop their employability while studying.
But then again I would say all this wouldn’t I? Any other
response would go badly against me from a ‘keeping my job’ point of view.
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