Some see university as the gateway to their future career. For others, it is a chance to get right royally drunk on the regular.
Something we can all agree on, though, is that studying for a degree has become unattainable for many. Back in 1999, Tony Blair set a target for half of Britain’s young people to attend uni, but nearly three decades on, this goal seems questionable as an increasing number of young people doubt the higher education rationale. Alumni from first-rate institutions are getting abysmal returns on their investment. And educational costs for students are spiralling.
Not only did the cap on England’s annual tuition fees rise to £9,535 in August, but additional expenses are pricing the average young person out of studying. Even Scots, who can complete their first undergraduate degree for free, are struggling.
It’s time this changed. Prospective students need to be made aware of the hidden costs of university that nobody likes to talk about. This way, they can make an informed decision about whether pursuing higher education is the best choice for them.
Securing Accommodation
The journey towards achieving a degree is peppered with financial bear traps, which could easily trip up the unsuspecting youngster. For example, the UCAS application fee, just shy of £29, needs to be paid before one can even hope to secure a place at any of the five institutions of their choice. Should their application be successful, they’ll have some tough decisions ahead of them.
Prospective students in England have to sort out their student loan around nine months before the start of term, which is by 31st May for most undergraduate courses, and arrange accommodation in advance. But it isn’t always smooth sailing. In this highly competitive market, where universities only offer half the quantity of affordable accommodation needed to house their students, spaces are limited, and demand is astronomical.
The price of student accommodation can vary greatly. Depending on the location (securing a spot in the capital can cost almost double what it would elsewhere) and whether you opt to live in private accommodation or university halls, it typically costs between £170 – £260 a week, plus a deposit of a couple of hundred pounds. This creates further inequality in terms of who can attend university. Only those from families with the deepest pockets, or who are willing to take on the most debt, can successfully afford to live near campus. How is that fair? A lack of affordable accommodation is forcing prospective students to only apply to local universities and colleges instead of the institutions of their dreams, or, worse still, give up their hopes of studying entirely. This outrages Alex Stanley, Vice President of Higher Education at the National Union of Students:
‘For students, one of the biggest things that drains their bank accounts is the cost of rent, and we need to see rent capped and controlled so that everyone can afford to live,’ he says.
Cost-of-Living Catastrophe
Other recurring living expenses are taking their toll on the average student. Already, experts have warned that food inflation could rise in the near future. Meanwhile, University College Birmingham estimates that students’ expenses will increase by nearly £34 a month, amounting to £406 a year. Young people may be under the illusion that if they budget smartly enough, or work enough hours during term time, they’ll easily be able to keep their finances under control. But that is simply not the case.
Many forget that it’s not just rent and food that chip away at one’s allowance. Students must also consider the cost of: buying homeware and utensils for their dorm; showering; cooking; keeping warm; using public transport; paying their phone bill, internet service and streaming channel subscriptions; using a launderette; socialising; purchasing gifts and birthday cards; making repayments on credit cards; replacing stationery items and other essentials.
Those individual sums may appear insignificant at first, but once you begin to look at them collectively, the costs really do add up. Particularly when you consider that a third of students live on less than £50 a month. But despite this state of affairs, no concrete action has been taken to combat widespread student poverty. Universities UK, representing 142 institutions, admits that maintenance loans: ‘have not kept pace with students’ rising costs’ despite most universities offering, ‘scholarships, bursaries, and hardship support’ for those who are struggling. In case it’s unclear, the proportion of struggling students is now almost everyone.
You see, the trouble with bursaries is that they’re only awarded to a small minority of young people, based on their families’ household income. However, evidence suggests that the overwhelming majority of students are failing to grapple with the cost-of-living crisis, regardless of their circumstances. Ninety-six per cent of those attending university have cut back on their spending, according to the NUS. Furthermore, over 80 per cent of students rely on financial support from outside sources, such as friends, family, and lenders, to get by.
‘Fundamentally, we need to see a shift in attitudes towards higher education funding,’ Stanley explains. ‘Cost-of-living should not be a barrier to deciding whether to continue studying.’
Budget-Friendly Alternatives?
With that in mind, you would be tempted to believe that distance learning is the solution to all of our problems.
For those who don’t know, distance learning degrees are held remotely, with classes conducted via Zoom and the assignments completed online. Often marketed as a flexible and budget-friendly alternative to studying on campus, particularly for mature students, these qualifications are typically cheaper than the courses offered by other universities and allow alumni to walk away with a BA or BSc. For example, studying an undergrad with the Open University or the University of London costs £3,892 and £1,470 per module, respectively. But be careful.
Whilst learning from home eliminates the extortionate costs of accommodation and travel for students, even these supposedly ‘affordable’ degrees are riddled with hidden expenses. Both the aforementioned universities state that students will be expected to pay for their own textbooks and course materials where applicable. Moreover, the University of London notes that students will be charged £11 for exams held online and £50 – £135 for those conducted in person. Unless you read the small print, prospective students can remain blissfully ignorant of these additional costs until it’s time to pay up.
To Study, Or Not to Study?
University is no longer a rite of passage or a ‘passport to social mobility.’ With mind-boggling hidden fees and the erosion of the graduate premium, many young people are failing to see how the perks of obtaining a degree outweigh its enormous costs.
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