An NUS/HSBC Student Experience report has responded to recent speculation over a possible rise in tuition fees to ?7,000 per year, claiming that it would deter 70% of students from applying to university. Such a significant rise could leave graduates with debts of ?32,000, further increasing already mounting pressure to find high earning graduate jobs following graduation.
These statistics come in the context of the UK falling twelve places in the graduate league tables in just ten years, coming in behind Poland, Slovakia and the Czech Republic. The report by the Organisation for Economic Co-operation and Development (OECD) linked the UK's level of public investment in higher education to this fall, with the UK contribution of 0.7% of GDP significantly lower than the OECD average of 1% of GDP. A further rise in tuition fees could therefore leave the UK even further outpaced by it's competitors in the graduate league tables.
NUS president Aaron Porter has claimed the report demonstrates a need abolish the 'damaging and unpopular fees system,' in favour of a 'progressive graduate contribution linked to real earnings' such as that proposed by business secretary Vince Cable. In spite of the CBI's fears of graduate emigration of evade a graduate tax, Porter suggests such a scheme would lessen the student fear of debt on graduation when entering a highly competitive graduate job market.
The NUS/HSBC report also supports an ongoing independent survey by GRB which demonstrates student dissatisfaction. GRB's preliminary results show that 50% of graduates believe their 3 year degree should not have cost more than ?5,000, indicating that students do not feel they have received adequate value for money. Check out the latest results and vote for yourself on GRB's homepage.
