Can University Be a Waste of Time?

The idea of going to a prestigious university and graduating with first class honours is the pinnacle summit for any aspiring young individual wanting to go to university. Or is it?  With universities currently charging £9,250 per academic year, a university graduate can end up with an average debt of £50,800. That's including accommodation and living fees. So is it worth going to university? And why do people choose to go to university in the first place?  Back in 2016, insurance provider Aviva published a report entitled Generation Regret. In the report, Aviva warns that many university students will wish they never bothered studying a degree. Given the debt these students accumulate, the report found that 37% of students actually regret going to university. With 49% of students feel they could have got to where they are without studying for a university degree. 

Do Graduates Really Earn More? 

Well, technically yes. But that really depends on the course that you study at university. If you choose to pursue a high-paying profession like medicine, law, architecture or chartered engineering, then you will need to obtain a university degree.    But if you choose to do a degree that is not career-focused, then you're likely to end up in a career that did not require a degree. To no surprise, figures from 2015 show that 58.8% of graduates are still in non-graduate jobs. And as you might assume, graduate roles offer a higher salary than non-graduate roles. Also, there has a been an uproar in the number of students graduating with a “Mickey Mouse” degree that offer no real value in return. We've also seen reports of graduates suing their old university for not helping them secure a well-paid job.

Why Do People Go To University Despite The Debt? 

Many young people still believe having a degree will improve their job prospects and attain a higher salary. Another reason why some people want to go to university is to experience university life.  Many graduates will say that going to university was the best time of their lives. Which is fair enough, the social aspects at university is quite attractive. But with so many students now going to university, it seems we've hit a saturation point.  According to UCAS, we see approximately 450,000 to 500,000 students enrolling onto a full-time university course each year. You can imagine how competitive it is for these students to find full-time employment once they've graduated.

The Alternatives To University 

University is not the be-all and end-all. Thankfully, you can go on to pursue a successful career that does not require a university degree, or end up with a hefty debt. Here are some options you can consider: 

Apprenticeships 

Apprenticeships are fast becoming an attractive alternative option in place of going to university. In 2015/16, 509,400 people started an apprenticeship, up by 1.9% from the previous year.  Apprenticeships provide young people the opportunity to earn-whilst-they-learn, whilst gaining a recognised qualification at the end of it. Apprenticeship providers usually work alongside employers so you can gain that vital on-the-job experience.   Many universities are now offering apprenticeship programs where students can achieve a career-focused university degree whilst working in a professional environment.  

Securing an Entry-Level Employment 

Entry-level jobs do not require applicants to hold relevant professional qualifications or have significant work experience. So they are available to both school and college leavers who can develop their skills on-the-job. You can find entry-level jobs in any area. For example, there's bookkeeping if you want to pursue a career in accountancy. And for a career in marketing or teaching, there are many assistant positions available to you.  Once you've secured an entry-level job, career progression is in your hands. If you can demonstrate a strong work ethic and a willingness to develop your skills, then be expected to climb up the career ladder very soon. 

Start Your Own Business 

If you have a great idea for a business along with a strong determination, then you should consider working for yourself.  Being self-employed gives you a great deal of flexibility, independence and a potential to receive a higher salary. Just bare in mind though, you will not receive holiday or sick pay. And in the beginning, your income will be irregular and you could possibly work longer days than a typical employee.  But if this seems like an exciting challenge, then do explore this route even further. 

So Should You Go To University? 

If you want to become either a doctor, an architect or a solicitor, then yes, you need to go to university. If you feel you don't have the necessary qualifications for university, then you can look at functional skills courses in English, Maths and ICT to help you get on to a university access course (an A-Level equivalent qualification that you can complete at University to help you enrol onto a degree).  But really, if you are not too sure about what career path you'd like to take, then you really need to have a think whether a university degree would really benefit you. Take a look at all the various career paths that are out there and see if a degree is actually required or not.  Thanks for reading! What are your thoughts on going to university? Do you think it is worth it? Please let us know in the comments section below.