Is University Worth £9,000 a Year?

The Telegraph recently asked students if their first year was worth £9,000.

This type of question is hard to answer at such an early stage. Wait until the end of the degree and answers won’t be much clearer then.

Value doesn’t conclude at the end of an academic year. Nor does it conclude when you finish studying.

In the nature of ‘students as consumers’, imagine buying a brand new car. After you’ve traveled on your first petrol tank worth of fuel, could you say if the car was worth the price? What about after one year of driving it?

The questions seem confused. How do you know if the car is worth it? Value doesn’t conclude until the car is run into the ground, you sell it, or it’s written off. Only when you put all the factors together can you get a reasonable assessment of value.

Value for money on one tank? And the fuel costs extra! (photo by Images_of_Money)

Value for money on one tank? And the fuel costs extra! (photo by Images_of_Money)

For a degree, value is even harder to assess. No wonder there’s so much discussion around it!

The Telegraph states, “58.4 per cent felt their first year wasn’t worth the £9000”. The problem is in understanding why. The answer is based on a general feeling. Some students will be offended paying a penny for their pursuit of education, while others will sense value in the long haul, whatever the cost.

Neither are necessarily right or wrong. Limited knowledge of what’s to come in their future (and in the wider world) prevents anyone from giving an accurate account of value. Motivation drives how you feel about many things, including value. But motivation is a complicated issue. There is no easy answer.

One opinion for poor value for money in the first year is that it doesn’t count academically.

This ‘first year doesn’t count’ argument is a false trail. Fresher year counts beyond grades. If nothing else, it acts to strengthen your academic work, which should help grades in later years. A direct correlation between fees and grades is jarring. Understandable, yes, but still jarring.

Contact time is another false trail. A joint study by HEPI and Which?, reports on student experiences, including contact time and the differences between institutions, even for the same subject. But there are many reasons why contact time isn’t just about hours. And neither should that be the only factor when looking at value.

It’s easy to boil the university experience down to this: a path toward a degree.

But the reality is complicated, just like motivation. You (hopefully) end up with a degree at the end of your time, but is that the only value worth attaching to the fee? If so, what price are you willing to pay for a degree and why?

There are arguments against buying into a university experience altogether. Despite those reasons, some will still find great value in HE. My motivation is not yours. Your motivation is not anyone else’s.

Is £9k worth it each year? Can you give a reasonable answer?

A simple question of value is far from simple to answer amid all the confusion. It makes little sense to view university within the confines of market competition.