Since September 2012, universities have been allowed to charge up to £9000 per year for a degree course, amounting to a potential debt of £27,000 for the fees alone, not including any accommodation and living costs.  This makes choosing Higher Education an even bigger decision then ever before and students and parents alike are, quite justifiably asking, “Is it worth it?”

Of course,  universities would argue that is definitely worth the time, effort and money – but students and their parents  need some hard evidence.

A recent report from the Department for Business Innovation and Skills (BIS) has highlighted a number of key benefits of going on to further study at university, some of which are quite surprising.

One of the first things that potential HE students and their families want to know is, “What will be the return on my investment?”  It’s a fact that individuals who graduate from University with a degree will have increased earning potential. The report from BIS suggests that, over their working life, the average graduate will earn comfortably over £100,000 more in today’s valuation, net of tax, than a similar individual with 2 or more A-Levels who does not continue on to higher education.  The most recent study (Walker and Zhu, 2013) estimates the following:

–       Men £168,000 more

–       Women £252,000 more

Also, initial graduate salaries tend to benefit from substantial pay rises and they are less likely to be unemployed.

Perhaps more surprisingly, a university education can bring a number of social and health benefits with it.

• Graduates are more likely to volunteer.
• Higher education enhances social mobility, not only by improving the life chances of the graduate, but through improving outcomes for their children.
• Graduates can expect to live around 8 years longer than those with lower levels of education.
• Graduates are less likely to drink excessively, smoke and less likely to be obese.
• Depression is less common for those with a degree compared to those with A Levels as their highest qualification.

So hopefully, I’ve convinced you, with the help of BIS,  that university is worth it, not just for job prospects and earning power, but for health, well being, life expectancy and for society as a whole…………£9000 sounds like a bargain!