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 all that 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. A recent report on student debt by the Institute for Fiscal Studies (IFS) revealed that graduate students are currently facing a lifetime of debt, averaging around £57,000. On top of tuition fees, which are continually increasing, this extortionate lifetime bill is made even heftier when maintenance fees and general living costs are taken into account.

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 uni worth it?

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 is only going to become more difficult—that's according to Sharon Walpole, the Chief Executive of Not Going To Uni (an organisation devoted to spreading awareness of options other than university to help young people secure a strong future). Walpole warns that graduate intakes for large employers will be reduced when an apprenticeship levy is passed in 2017. This levy will include an investment of £2.5 billion into funding apprenticeship training, resulting in an influx of apprenticeship placements and less room for graduates.

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. Read this Guardian article to find out how newly-graduated students are finding life after university, and how successful they have been in finding work.

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.

Your Career Starts Here!

Alternatively, select one of the following options to find out more:

• Electrical Courses
• Plumbing Courses
• Gas Engineer Courses

PAGE UPDATED 13 AUGUST 2024