As A-level results day approaches, many students are eagerly awaiting to find out if their grades are enough to secure a spot at their university of choice. However, with the rising costs of university education and the prevalence of so-called „Mickey Mouse“ degrees, the question arises – is going to university still worth it in today’s world?
The average university degree leaves graduates with a staggering amount of debt, with some students facing debts of over £230,000. The introduction of the Plan 5 scheme last year means that students will start repaying their loans once their earnings exceed £25,000, potentially leading to repayments for up to 40 years. This financial burden has led many to question the value of a university education.
The Conservative Government has promised to crack down on degrees that are deemed to be worthless or irrelevant, with the aim of redirecting funds towards high-skill apprenticeships. In its final Budget in March 2024, the government announced plans to fully fund apprenticeships for individuals up to the age of 21, in an effort to provide more opportunities for young people to kick start their careers.
Research conducted by jobs website Adzuna has shed light on the degrees that offer the worst value for money in 2024. By analyzing the career pathways of graduates from different subjects and their earning potential five years into their careers, Adzuna has identified the degrees that may not be as lucrative as others. Surprisingly, academic staples such as English Literature have been ranked among the worst value for money degrees, with graduates earning an average of £23,126 five years after graduation.
This revelation has sparked a debate on the relevance and practicality of certain degree courses in today’s job market. With the cost of university education on the rise and the uncertain job prospects for graduates of certain subjects, many students are reconsidering their options and exploring alternative pathways to kick start their careers.
In conclusion, as A-level results day approaches, students are faced with the daunting decision of whether to pursue a university education or explore other avenues. With the rising costs of degrees and the prevalence of „Mickey Mouse“ courses, it is essential for students to carefully consider their options and choose a path that aligns with their career goals and aspirations. Ultimately, the value of a university degree lies in its ability to provide students with the skills and knowledge needed to succeed in their chosen field, and it is up to individuals to make informed decisions about their future.