Eight in ten nevertheless say they are satisfied with their course
This year sees tuition fees rise again in England for the first time in eight years, with the government not ruling out allowing fees to rise with inflation in coming years.
The latest increase means that tuition fees now come to £9,535 a year in England and Wales. Now a new YouGov survey of almost 1,000 home students studying at undergraduate level in the two nations finds that two thirds (66%) think that the standard of education and the wages graduates earn are not enough to warrant the cost.
Only 15% think the standard of education and increased salary expectations make the degrees worth the money.
Tuition fee repayment changes introduced in 2023 mean that students will still be eligible to make repayments for up to 40 years before the remaining loan balance is written off.
Given the high costs of tuition, as well as the significant interest rates levied on student loans, it is perhaps no surprise to see that fully one in three students (37%) don’t expect to ever fully pay off their student loan.
A further one in five (23%) expect to be saddled with the debt for at least two decades – only 16% think they are likely to pay back the balance of their loans within twenty years.
How satisfied are students with their courses?
While they may see university as poor value for money, eight in ten students (80%) nevertheless say they are satisfied with the quality of their degree course, although only 23% say they are “very satisfied”. One in six (18%) say they are dissatisfied, including 5% who are “very dissatisfied”.
Do students still think university will benefit them?
Almost eight in ten students (78%) students believe that a degree will mean they are more able to get a good job, although a slightly lower rate of 66% think that they will be financially better off as a result of going to university.
One in six students (18%) think their degree won’t make much difference to their lifetime finances, and 14% say the same of their prospects of getting a good job. A further 11% expect to be actively worse off financially as a result of having gone to university, although only 3% think it will have worsened their job prospects.
How do students think universities should be funded?
Students tend to think that higher education should be free, with universities funded by general taxation (44%). Three in ten (30%) take the opposite view – that university should be paid for by the people who go to university, either through tuition fees or some sort of graduate tax.
What do you think about the value for money of university, how higher education should be funded, and everything else? Have your say, join the YouGov panel, and get paid to share your thoughts. Sign up here.
Photos: Getty
