Do You Get Value for Money With Your Degree?

A survey has revealed that many students believe that they do not get ‘value for money’ from their degree and this week, I ask on the Kiran Trivedi blog just how much your degree adds to your bottom line.

The traditional argument states that a degree is an investment in your future. Those people who are able to boast a bachelors on their CV are said to prove more attractive to higher end employers, meaning that there is supposedly a direct link between university education and earnings potential.

Is it Really Worth £9,000 a Year?

However students have become increasingly distrustful of the benefits of a degree, as fees have risen to £9,000 a year for the average University course, and this has led many to consider whether they truly provide value for money.

According to a survey conducted by the Higher Education Policy Institute (HEPI) and the Higher Education Academy (HEA), a third of the 15,046 students questioned say that in a world where you pay up to £9,000 a year for your degree, the course offers poor value for money.

There is a clear reason why so many students have questioned the value of the £9,000 price tag. That is because the controversial change that was first brought in in 2012 has only resulted in 10 minutes extra contact time.

It’s important to note that this is a sharp contrast from 2012, when it was reported that only 18% of students surveyed suggested that a degree offers poor value for money. Furthermore in 2014 only 36% said their course offers good value for money, whilst 52% held this opinion back in 2012.

The Link between Your Degree and Your Wage

The real question here is does the cost of a degree justify the greater position it gives you in the jobs market? Whilst graduate starting wages generally measure over at least £14,000, students have to start paying back their loans when they earn over a certain amount, and if you’ve borrowed more, you’re paying back more over a longer period of time.

This would suggest, Kiran Trivedi readers that a degree is worth the money you’re willing to pay for it depending on the starting wage of your chosen profession. It’s important to remember that 31% of those surveyed said that they would take a different course if they had their time again. If you’re thinking about starting a degree, think long and hard about what it could add to your bottom line in the long term.