What's the value of a degree?: Stewart Darkin

Job: Writer and Freelance Journalist
Left education: 2010


“I think the time when a degree meant a passport to a guaranteed lifetime of higher earnings has long passed.

At the same time fees have been rising, successive governments have tried to get more school leavers into uni. This means a broader selection of courses, with a higher proportion of courses on offer being... how can I put this... 'more accessible' than many of the traditional choices. If you wanted to be an estate agent or run a pub, you used to start with a job with an estate agent or as a bar man and work up. Now you can take a three-year degree in Planning & Property Management or Retail & Catering.

Point being, more people are (or were) being drawn into uni at a time when it has become an increasingly expensive choice. If you're going to be a doctor or a lawyer, fine - you must have a degree and you'll get well paid your whole life, but most people being asked to pay these higher fees will end up managing a pub for Wetherspoons or working in the planning department. The maths doesn’t add up for them.

                         

I have completed two degrees, a BEng in Civil Engineering and then my MA at UCLan. The first time round, I was in the first year that had to take out student loans (for living expenses) instead of grants. I ran up £10k debts in four years and most had more. And that was without fees, still covered by the state then.

I ultimately left engineering because, in truth, it was the wrong career choice in the first place, but I don't regret my first degree in the slightest. That's because it was never an equation of cost/earnings for me. Being at uni (at Oxford Brookes) was just a huge laugh. I spent years caning it and playing at being a grown-up (but without the responsibility) and chasing girls and sleeping for days and watching Countdown. It was awesome.

The thing is, that was a time in my life like no other: to be carefree and young enough to make the most of it. No kids, no credit, no mortgage - just jeans, t-shirts and a library card.

And here's the rub - the government knows this. They charge students more and it upsets people and seems unfair. Especially when you take into account the maths. But they know that the prospect of uni is a drug.

All the people I know who didn't go to uni for some reason (and had the option) have unfinished business. They have cash and are ostensibly happy, for sure, but their experiences are essentially incomplete because a lot of them have never spent two weeks in bed without it mattering.”

The burden of student debt

Lisa Watson
Advice Centre Co-ordinator UCLan

University applications for 2012 entry, the first year that universities can charge up to £9000, are said to be down 12.9% on the previous year. Student debt is a prospect that could account significantly for the dissuasion of potential students. Here, student finance advisor Lisa Watson talks about how students cope with the reality of looming debt.
Student debt by laurastack@hotmail.co.uk


How much will universities charge


Money advice for students

The growth of youth unemployment

Employment is said to be at its highest level in 17 years. The jobs market is a subject that features heavily in society's attitude towards higher education. Some say that many degrees do not lead to jobs, therefore are worthless in the world of work. Others say that in order to even have a chance in the competitive market, a degree is an absolute. In any case, unemployment is a real concern for today's alumni, with up to a quarter of graduates without full-time jobs, three years after graduating. Furthermore, many are in minimum wage jobs, much below their levels of training. However, the government has recently vowed to create more job opportunities for graduates and youths alike.


Data source: DWP Press Office
View Youth unemployment in a larger map


The map above shows the number of 18-24 year-olds claiming Jobseeker's Allowance in October 2011.
The green areas show where claimant numbers are the lowest in comparison to the UK average, in yellow areas there is a generally lower than average amount of claimants, in orange, numbers are on or above the UK average, and in red, they are considerable more.

Why study in the UK?: International students

The perceptions of a UK education vary across the globe, however, we can make certain generalisations on the factors that have attracted international students to the UK depending on what university they attend.


Overseas students, who choose to study at redbrick and other respected universities, are certainly intelligent, but must also come from wealthy families, due to the high tuition fees – around £12000 a year. They tend to be driven and looking to study a specific subject.


In other cases, it’s the university that reaches out to the student. Financially motivated institutions, and those struggling to compete with others, offer cheap courses (£4000 fees) and work permits to attract larger numbers of students. In some cases, they benefit directly from international student recruitment.


In India, the principal reason that students come to the UK to study is a degree guarantees a decent job in India, and opens the door to more executive roles. This is because a UK degree is recognised across the country and allows a competitive edge in a caste system in which it is very difficult to move up the hierarchy.


International students often want to experience the traditional British culture and a good standard of living. Some may also choose to work part-time to help repay their debts. For other young people, studying is seen as short-term immigration and a way of earning and saving money for their return to their home country.


The UK also attracts overseas students who see the move as an opportunity to network and form personal and business contacts, which could benefit them in their pursuit of international work. Few are in search of a career in the UK. This contact-making would be especially important for those living in small rural areas, where the job market is limited.


But as international students generate £10 billion for our economy each year, it seems that the UK needs them more than they need the UK.

The path to a international career
Kaplan International Colleges

Video Skills Test

Below is a short video that offers advice on how students can make themselves more employable. The video has been edited, and titles have been added using iMovie for Mac.