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26Sep2017

Is University Worth the Cost?

Rhys access training courses

is university worth the cost?

SHORT ANSWER: University can be worthwhile if you have a career in mind that requires a specific degree, but if that's not the case, you may want to consider alternative paths that will improve your employment prospects without the added baggage of student debt.

Many young people today think of uni not as an option, but as mandatory—the default next step after leaving school at 18. With more and more people applying for fewer and fewer vacancies, you might think that a university degree is essential if you want to compete in the modern job market.

But is the experience of university worth the enormous tuition fees and oppressive debts that come with it? Is university really the surest route to a successful career?

The answer is: no it isn't, at least not for everybody. Many other equally viable options are often overlooked by parents, teachers and students alike.

What does university cost?

In 2012, university tuition fees in England almost tripled, going from £3,375 per year to £9,000 per year. At the time, students were promised better value for money, a higher quality of university teaching, and far better future prospects—and had those promises come true, then perhaps this could be seen as a fair deal. But with the number of students increasing each year, the value of a degree has if anything fallen since 2012.

And that's not the only problem. The Student Loans Company stated that in 2024, graduate students leaving university in England are expected to face a lifetime of debt, averaging at £48,470. On top of tuition fees, which are expected to rise in 2025, this extortionate lifetime bill is made even heftier when maintenance fees and general living costs are taken into account.

A maintenance loan, in particular, is intended to cover accommodation, food, books and equipment, yet according to recent research by the Higher Education Policy Institute, maintenance loans only cover about half the cost of living, even less so for students in London.

So unless a university education is undoubtedly, unquestionably what you want to pursue—for example, because your dream career demands a specific degree qualification—why saddle yourself with such a huge amount of student debt?

Is university worth the cost?

Many students who started university courses after fees were increased have now completed their degrees, but a lot of them are not doing too well. According to the National Union of Students, nearly half of all students who attended university as undergraduates in 2012 were back to living with their parents five years later.

And the struggle to find employment has only become more difficult, with a staggering 57% of UK employers reporting they hired fewer graduates in 2024 compared to previous years. In fact, 62% of recent graduates state they are struggling to find relevant professional positions all together.

With more and more graduates achieving university degrees, things are only likely to become worse, with more competition, fewer opportunities, and less room for work... so, is university really worth the cost?

Alternatives to university

Leaving university owing £40,000+ is no way to enter the world of work. A debt of that scale can be a huge financial and mental burden, not only for the students themselves but for the families who then have to support them. With far less priority now being made for graduate employees, finding work is becoming extremely difficult.

If you are thinking of attending university but aren't 100% certain about this choice, we implore you to consider all the available options. If academia is not your forte—if you are better with physical, hands-on work—then you may wish to learn a trade instead of going to uni.

Access Training is the best establishment in the UK for aspiring tradespeople who want to learn the skills and earn the qualifications that will enable them to succeed. Please get in touch today and enquire about the courses we have on offer. Our course advisors will be happy to give you all the information you require.

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Trade vs university

We are approaching a time where the lives of thousands of young people are at a crossroads. Significant life decisions are due to be made: whether to go to university and study for a degree, or go down the vocational training route and learn a trade.

Both routes come with their respective stereotypes, but really, they are not so different from each other; you can achieve great levels of success on either path. Still, if you're not 100% sure about going to university, it's a good idea to weigh up the alternatives before you make a decision.

Alternatives to University

1) Apprenticeships & Traineeships

If you'd prefer not to pay the thousands of pounds for tuition fees at university, but still need to acquire valuable skills and qualifications, then an apprenticeship or traineeship might be the best route for you. Apprenticeships give you the opportunity to experience the world of employment whilst earning a decent wage; you'll also gain a qualification on completion.

In essence, it's like paid work experience in your chosen field, and one which will greatly increase your employability. Combining valuable work experience and training will give you the necessary skills to start your chosen career path. Today, apprenticeships and traineeships are not restricted to the traditional trade routes alone - they include a vast range of careers, from engineering to accountancy, publishing to veterinary science.

2) Gap Year

If you're still undecided about which direction you want to take when you finish school, there is no need to despair. Gap years are an increasingly popular choice for people in this situation. Taking a year out affords you with valuable time to consider all your available options, give yourself a break from education, and perhaps get some life experience working or travelling.

It might also be an opportunity to gain new qualifications in your free time and enhance your personal statement or CV to improve your employability.

3) Get a Job

Not everybody is destined for an academic route. And it's perfectly acceptable to hop off the education train after your GCSEs or A Levels and head straight into the working world. If you aren't interested in an academic future, but would much rather get your hands stuck in, the last thing that'll appeal to you after finally leaving school is... well, more school. A good option for you could be to cash in on the qualifications you've earnt at your time in school and begin your working life early. If you have the right attitude and are hard working, you could find yourself moving from rung to rung on the career ladder in no time.

4) A Career in the Trade Industry

Tradespeople such as plumbers, electricians and gas engineers are thriving off the skills shortage that's currently plaguing the industry. As a result, the trade industry is set to boom. In addition to this, with a rapidly rising UK population and huge housing and road developments proposed for the future, tradespeople are virtually guaranteed a healthy, stable and rewarding career.

With a huge workforce needed to make these developments happen, as well as the maintenance and installation of appliances for years to come, a career as a tradesperson could be the perfect for you.

Trades vs University

Outdated stereotypes and preconceived notions have caused the trade industry to be disregarded as a plausible alternative to university. Below, we observe the results of a recent study commissioned by Selco, which surveyed 500 manual skilled workers to see how they are faring in the trade industry. Here we consider the real benefits of all career options.

Trades vs University: Financial Security

The most startling figures uncovered by Selco determine that tradespeople are, on average, far more financially stable than students after their education is complete. While the average student debt is around £45,000, the typical tradesperson's debt is at only £5,600.

This can be explained by the fact that tradespeople are able to earn a salary much earlier on in their careers; vocational training courses also tend to be shorter and more inexpensive than university courses. Students will typically have to wait beyond their graduation until they can find employment, and are then playing catch-up to pay back their fees.

Having fewer debts allows for greater financial flexibility and even opportunities for investment. 70% of tradespeople asked have savings, and over a third said they invested their earnings in ventures such as property, stocks and shares, or crypto currency, allowing them to grow their wealth and remain financially stable. Such opportunities seldom lend themselves to students who have to scrimp and save throughout their degrees.

Not only are tradespeople earning earlier in their lives, but they are typically earning more, sooner. A living wage can be expected to be earnt by age 22 as a tradesperson, and while this is also a possible achievement for a university graduate, it can take as long as age 29 before they can earn the same.

Trades vs University: Lifestyle

73% of tradespeople asked in the survey said that they were happy with their jobs, which is considerably higher than the average figure of UK job satisfaction, between 41-65%.

But why is this figure significantly higher than the rest of UK workers? The primary reason is undoubtedly about a sense of pride. 72% of the tradespeople in the survey said that pride was the single most fulfilling element of their job happiness. 67% answered that the satisfaction of hard work was the reason, 54% gave a sense of responsibility, 49% suggested that it was the confidence generated by trade work, 37% noted the work's required dedication, while 34% put it down to the demand for focus.

It goes without saying that work in the trade industry requires all of these characteristics, as of course do other academic vocations. However, it's far easier to enjoy and to feel pride in your work while you're earning and feel yourself progressing, rather than slipping into an ever steeper pit of debt.

Trades vs University: Home Ownership

Statistically, you are more likely to be a homeowner at a younger age as a tradesperson than as a student – three years younger, to be exact – and are typically leaving home one year sooner than your student equivalents.

Tradespeople are generally homeowners by the time they are 27, whereas the rest of the UK are on average aged 30 before they are given the keys to their own place. Not only this, but 44% of tradespeople are likely to have owned multiple properties than average workers, and 1 in 6 tradespeople will have statistically owned more than one property at the same time.

Trades vs University: Settling Down

The decisions you take after leaving school can impact things further down the line, and according to the results of this survey, these can be as significant as how soon you get married and have children.

Along with home ownership, tradespeople are typically married and settled, and will even have had their first child, at an earlier age than their student counterparts. The average male tradesperson's marriage happens on average five years earlier than other men, and for women this is three years earlier.

Tradespeople will statistically have had their first child by the age of 26 – this is two years before the female average (28), and a whopping seven years before the male average (33).

Trades vs University: Success

Success in life is ultimately subjective, and can be measured in a number of ways. By no means is it true that the life of a tradesperson is necessarily any more successful than that of a university student, and it goes without saying that, you can make the most of any decision you make.

It's worth emphasising that the trade industry can be an option for a highly successful career, perhaps more so than is typically expected. 1 in 4 tradespeople have gone on to start their own businesses, and have taken their futures into their own hands. It's a career which offers promise, growth, self-discovery, and autonomy.

Unfortunately, a debt-free life is no longer a guarantee for anyone, but university graduates are particularly vulnerable in today's job market. Job security is increasingly hard to find in the wider world, but the trade industry is providing this secure option for thousands of people.

The trade industry could be the safety net – and even saving grace – for you and your future. Access Training is one of the UK's biggest training companies, and can provide you with the skills and direction you need to invest in your future and establish your career.

Become a Fully-Qualified Tradesperson with Access Training

If a career in the trade appeals to you more than going university, take a look at the courses available at Access Training today.

Learn your trade. Get qualified. Make it happen.

01Sep2021

Trade vs University: Which Path Is Best for School Leavers?

Lewis access training courses

is university worth the cost?

But is the experience of university worth the enormous tuition fees and oppressive debts that come with it? Is university really the surest route to a successful career?

The answer is: no it isn't, at least not for everybody. Many other equally viable options are often overlooked by parents, teachers and students alike.