A-Level Results: Is University Worth the Debt?
Summary
TLDRIn the UK, students are receiving their A-level results, a pivotal moment for university admission. The debate on the value of a degree, considering the debt many graduates face, is highlighted. With tuition fees varying by region and average graduate earnings higher than non-graduates, the discussion explores alternatives like apprenticeships. The conversation underscores the importance of considering life skills, work experience, and personal happiness over just academic success and financial gain.
Takeaways
- 📚 A-level results are crucial for students in England, Wales, and Northern Ireland to secure university placements.
- 💼 The value of a university degree is debated in relation to the debt graduates incur, with differing opinions on whether it's a worthwhile investment.
- 🏛️ Tuition fees vary by region: £9,250 per year in England and Wales, free in Scotland for qualifying residents, and £4,750 in Northern Ireland.
- 💼 The average graduate earns £38,500 compared to £27,000 for non-graduates, indicating a potential earning advantage.
- 💰 England has the highest average student debt at nearly £45,000, with Wales at £35,000 and Northern Ireland at £24,500.
- 📈 There's a significant concern about the long-term impact of student debt, with some graduates facing financial struggles.
- 🔄 The discussion highlights the need for a shift in perspective, viewing education as an investment rather than debt.
- 🎓 Some argue that apprenticeships offer a viable alternative to university, allowing students to earn while learning and gain practical experience.
- 🌍 University education is not just about employment; it also provides personal development, cultural exposure, and a structured environment for growth.
- 🔄 The conversation underscores the importance of flexibility in education and career paths, with the acknowledgment that interests and goals can change over time.
Q & A
What are the tuition fees for an undergraduate degree in England?
-The tuition fees for an undergraduate degree in England are £9,250 per year.
Is tuition free for Scottish residents attending university in Scotland?
-Yes, tuition fees are free for Scottish residents who have lived in the UK for three years or more.
What is the maximum tuition fee a student in Northern Ireland has to pay?
-The maximum tuition fee a student in Northern Ireland has to pay is £4,750 per year.
How much does the Department for Education say an average graduate earns compared to non-graduates?
-The Department for Education states that an average graduate earns £38,500 compared to £27,000 for those who haven't gone to University.
What is the average overall debt for University students in England?
-The average overall debt for University students in England is nearly £45,000.
What is the position of the business owner, Onin, on the value of university education despite the debt?
-Onin believes that university is worth the debt as it offers the opportunity to develop invaluable life skills.
What is Holly Hobbs' view on alternatives to university for school leavers?
-Holly Hobbs suggests that there are better options than university for school leavers, such as apprenticeships where they can earn as they learn.
How does the script suggest the perception of university education has changed over time?
-The script implies that the perception of university education has changed, with more focus on the financial burden and less on the traditional benefits like personal development and career opportunities.
What is the script's stance on the pressure of student debt on graduates?
-The script suggests that there is a significant amount of pressure from student debt, but it also emphasizes that the debt should be viewed as an investment rather than a burden.
What is the script's view on the importance of passion in choosing a university subject?
-The script highlights the importance of choosing a university subject based on passion rather than solely focusing on financial gain.
How does the script address the flexibility of career paths after university?
-The script acknowledges that career paths after university can be flexible and that it's possible to change directions, emphasizing the importance of personal happiness and fulfillment.
What is the script's perspective on the role of apprenticeships in comparison to university degrees?
-The script presents apprenticeships as a viable alternative to university degrees, offering practical experience, networking opportunities, and the chance to earn while learning.
Outlines
🎓 University Education Costs and Benefits
The paragraph discusses the tuition fees for undergraduate degrees across different regions of the UK and the potential earnings of graduates compared to non-graduates. In England and Wales, tuition fees are £9,250 per year, while in Scotland, they are free for residents who have lived in the UK for over three years. Northern Ireland has a maximum fee of £4,750 per year. The Department for Education states that the average graduate earns £38,500 compared to £27,000 for non-graduates. However, the average debt for university students in England is nearly £45,000, with Wales at £35,000 and Northern Ireland at £24,500. The paragraph raises the question of whether university education is worth the debt, especially considering the high cost of living and the potential for graduates to struggle to break into their chosen industries.
💼 Alternatives to University: Apprenticeships and Skill Development
This paragraph explores the value of university education beyond financial returns, emphasizing the development of life skills and personal growth. It contrasts traditional university education with apprenticeship programs, which offer on-the-job training and potential for immediate employment. The discussion includes the importance of networking, work experience, and the flexibility to change career paths. It also touches on the structured support provided by apprenticeship programs and the opportunity to travel and experience different cultures, similar to university. The paragraph concludes with the idea that university should not be the sole measure of success and that personal happiness and fulfillment are important factors in choosing an educational path.
📊 Public Opinion on University Value in 2024
The final paragraph summarizes the public's opinion on the value of a university education in 2024, as gauged by a show's audience poll. Only 20% of respondents believe university is worth the investment, while 80% do not. This reflects a significant shift in perception compared to 30 years prior, suggesting a growing skepticism about the return on investment for university education. The paragraph implies that societal views on the necessity and value of a university degree are evolving, with more people questioning the traditional path of higher education.
Mindmap
Keywords
💡A Level Results
💡University Admission
💡Tuition Fees
💡Student Debt
💡Graduate Earnings
💡Degree Apprenticeships
💡Investment in Self
💡Career Opportunities
💡Educational Value
💡Career Flexibility
💡Educational Investment
Highlights
Hundreds of thousands of students in England, Wales, and Northern Ireland receive their A-level results, which are crucial for university admission.
The debate on whether a university degree is worth the debt it incurs is ongoing.
Tuition fees vary by location, with England and Wales at £9,250 per year, Scotland free for residents, and Northern Ireland at £4,750 maximum.
On average, graduates earn £38,500 compared to £27,000 for non-graduates, according to the Department for Education.
The average debt for university students is highest in England at nearly £45,000.
Patricia's email highlights the struggle of grandchildren with over £100,000 in student debt, impacting their monthly finances.
Business owner Onin Odoro argues that university is an investment in life skills and opportunities.
Apprenticeship expert Holly Hobbs suggests alternatives to university, such as earning while learning.
The discussion points out the shift from grants to loans and the psychological impact of student debt.
The importance of understanding the student loan system and the fact that it's not a debt if not paid back is emphasized.
Holly Hobbs shares her experience of gaining valuable skills and a network through a degree apprenticeship.
The argument that university should not be the sole measure of success or financial gain is presented.
The flexibility of apprenticeship schemes and the opportunity to change career paths is discussed.
The value of university experiences, such as studying abroad and personal development, is highlighted.
The importance of happiness and personal fulfillment over academic success is emphasized by a parent's perspective.
A poll result shows that 80% of respondents do not think university is worth the debt in 2024.
Transcripts
hundreds of thousands of students across
England and Wales and Northern Ireland
it's the big morning for them they're
getting their a level results today and
other examination results and obviously
many are counting on getting reasonably
good results to get them into University
well we're debating whether or not
getting a degree is still worth the debt
that graduates leave with uh but first
here's sha with the facts and figures
Shan tra thank you very much indeed the
price you pay for tuition fees depends
on where you live and study an
undergraduate degree in England and
Wales cost £9,250 a year in Scotland
truition fees are free if you're a
Scottish resident and have lived in the
UK for three years or more and in
Northern Ireland students pay a maximum
of
4,750 a year when it comes to the
benefits of having a degree the
department for Education says an average
graduate earns
38,500 compared to
£27,000 for those who haven't gone to
University univ however the average
overall debt for University students is
highest in England at nearly £45,000
followed by Wales at £35,000 and
Northern Ireland at
£24,500
thanks Sean so the big question is is
University still worth the debt in 2024
already I've got a message on this
Patricia on email says I have two
grandchildren with unid debts of over
£100,000 trebling with with interest
they rent at huge cost too and there's
nothing left each month and the family
can't help well joining us now to
discuss this is business owner Onin
odoro who thinks that University is
worth the debt and offers the
opportunity uh of developing invaluable
life skills also with us we have
apprenticeship expert Holly Hobbs who
says that there are better options than
University for school leevers who can
earn as they learn I have to say that
when you hear the figures that Sean just
read out there I mean and and this one
on the email and that one on that email
that that you just read out TR um it
does give you pause for thought I mean
back in the day um when I was growing up
I and my contempories if we were going
to University we got a student grant uh
and depending on what our parents earn
the parents chipped in but there was no
question of leaving University with a a
mountain of debt which must be very
depressing to a lot of kids is this
really the right system I do think we
need to change the ways in which we're
talking about going to University so
it's definitely an investment in oneself
as opposed to a debt I did two degrees
so I'm sure my student loan payback is
around the £100,000 figure if not more
however I have been able to create a
career and a life for myself that means
I'll be able to earn so much more than
that and there's no guarantee of that is
there another message we had was from a
woman who soned an Aeronautics degree um
he got a first uh he's 30 now he's not
been able to break into the industry
despite that degree and now he's
basically getting too old to break in he
doesn't have the experience and he's got
£45,000 of debt for what but it's not a
debt if you don't pay it back nothing
happens you've got to take a chance on
yourself it's not like you're penalized
um Martin Lewis describes it in a really
good way it's essentially an additional
graduate tax so it shouldn't stop you
from going to University I think the
numbers are important you do need to
weigh up those options but there are
loads of fear-mongering statistic ICS
particularly around going to University
can you just explain what you mean about
you don't have to pay you mean you can
well if you're not earning it's only up
to what after you start earning I think
over was his 25,000 so there's a
qualification to that yeah if you're
earning you have to pay it back but if
you're not then you don't need to feel
this pressure to pay it back and I think
we start we need to start looking hang
sorry I'm sorry you will feel that
pressure though all right this
30-year-old who can't break into the
aeronautic at some point he'll get a job
somewhere else his earnings will start
coming in and it is going to come and
bite him but you will fill that pressure
because the wrong information is being
fed about how the loan works that's why
I'm here today yes I I understand that's
why I'm asking the follow yeah so that
the most important thing is for people
to understand that it's not this crazy
debt that you have to pay back and
you're not penalized if you don't pay it
back in fact you reach a certain age and
it gets written off so you need to start
thinking about it as an investment in
oneself as opposed to a debt that you
have to pay back I'm I'm interested now
Holly you didn't go to university what
did you do so I was on a degree appren
ship at a Global Tech firm is that like
a te is it something along the lines of
one of these tea sort of you know where
you do an an apprenticeship basically
yeah see I would have liked to have done
that you did that as well what is your
feeling would you have been better off
do you think you would have been better
set up if you had gone to University and
got a degree definitely not no I think I
gained invaluable skills working
alongside my degree and at the end of
the day I think that you are in charge
of your own your own skills that you're
learning um and University shouldn't be
a measure of success for that I think
and measure of success financially is we
heard from the figures there you are I
mean on average you are going to more if
you have a degree but it's everything
about money I think that's one of the
problems that's a because then now they
you know I can't remember who came out
and said do a degree um about a subject
you're passionate about don't just focus
on money and we're seeing more people
get getting involved and doing degrees
in stem subjects because they're
thinking purely about the money so you
what what area did you study so I was in
business management business management
so what did you gain actually being in
situ so to speak you might not have got
at Uni the biggest thing I gain was my
network um and that's helped me to start
a business now because actually I've
been able to leverage those people that
I met and they've helped me within my
business to grow how do you think we
should be funding University
degrees um that's a great question if
you you don't have to answer if you
don't have an answer no I mean I think
they should be funded through the degree
apprenticeship route and people should
be working with an employer and getting
their employer to fund it for them so
they don't have to pay all that debt and
they're getting the work experience at
like bit like the National Health
Service one of my kids one of their
degrees with with the National Health
Service yeah but then then and and with
the military but then you have to
actually stay with in that service to do
that so why is that not a better
alternative you're actually when you uh
start work you've got an actual
knowledge of how it works because you
can many people would say you can learn
everything with within a lecture hall
and what have you but it's very very
different when you're actually having to
communicate with colleagues and
negotiate all of the sort of things that
one does really hands on in the
workplace so far this conversation has
centered all around work and University
isn't just about that so in my
experience I traveled abroad I studied
in China I read my first degree is in
religion politics and society and my
postgraduate degree is in education
policy and Society so these are subjects
that I'm very passionate about they are
quite academic first degrees is in arts
and humanities faculty postgraduate is
in public policy and social science and
did you select them not just because you
found them stimulating but also because
they would steer you into the career
that you chosen yes but on top of that
it's about developing oneself University
gives you the opportunity to create
yourself in a controlled and structured
environment at 19 years old how on Earth
would I have picked myself up and moved
to China to study without the
infrastructure that University gave me
does the workplace or do Apprentice
schemes currently offer that opportunity
so far I haven't seen that well do they
do but I would argue yes they do um a
lot of employers will have structured on
boarding programs that will teach teach
the young people exactly how to set up
the success throughout their
apprenticeship so they won't just be
chucked in the deep end um and also
about your point about studying abroad
Etc appren ships do still give you that
opportunity because you're working there
might be an opportunity for a business
trip and you're also earning a salary
which means you can afford a lot of the
time to go on these holidays and
experience these new cultures and
apprentices do often go and move out um
and move out with other apprentices or
go to share accommodation or whatever so
you're still building up those same
skills but what happens when what
happens if you decide you don't want to
go down that career route I wanted to be
a doctor then a lawyer then I thought I
was going to work in the Professional
Services industry in the city and I am
none of those things because as a young
person you change your mind a lot and
University gave me the opportunity to
explore lots of different options I
think that's a really good point
possibly to finish on here it's so
important for for kids watching this now
one not to worry too much about the
results they get because you can move on
everything's possible but two you can
always change your mind I mean all all
of my fa kids ended up going to UNI but
one of them uh she'd only been there for
two terms basically for about six months
um she found home one day and said Dad
I'm just not enjoying it here and I
don't think it's serving me right I want
to come back and get and get a job I
said well then do it and so she left and
it was the best thing she ever did so
you can always change your mind mind
exactly yeah I would argue appr
friendships are actually more flexible
in that respect because you can be on a
scheme but actually you don't have to
work in that specific department for the
whole friendship scheme you've got more
fluidity you can move around the
business you can try different things
whereas if you're at University and
you're signing on a course halfway
through you're less likely to change
courses because then you're going to
have to pay all the money again that's a
good point it's an interesting one isn't
it I I actually think as as parents uh
and lots and lots of parents watching as
well as the kids waiting for their
results I think we'd all probably agree
the most important thing is for our kids
just to be happy I mean I I we didn't
put pressure on our kids to do
incredibly well academically they did
okay but they didn't they didn't do they
didn't shine I didn't care because they
were happy they were happy at school and
they were happy in the toy and that is
what I I think that's important that and
that they don't bring their laundry back
to you well look we asked we we set a
little question for you uh at the top of
the show we asked you is University
worth it in your view in
2024 20% of you just 20% one5 of you
said yes 80% of you said no you don't
think it is is that's telling isn't it
that's telling about how Val Chang we
wouldn't have got that result 30 years
ago no way no no most fasc we wouldn't
have known what university was 30 years
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