A new survey has revealed that one in three Britons now believe that a university education is not worth the cost, coinciding with the launch of a parliamentary inquiry into the student loan system. The findings underscore a growing disillusionment with higher education in the UK, as tuition fees and debt levels continue to rise.
The poll, conducted by YouGov, found that 33% of respondents think that a degree is no longer a worthwhile investment, a significant increase from just 22% in 2015. Among younger adults aged 18-24, the figure rises to 38%. The survey also showed that 52% of Britons consider the current tuition fee system to be unfair, with widespread support for reducing fees or abolishing them altogether.
The inquiry, led by the Education Select Committee, will examine the effectiveness of the student loan system in England. Key issues include high interest rates, the repayment threshold, and the impact of debt on graduates' life choices. The committee has invited submissions from students, universities, and financial experts.
Dr. Helena Vance, Science & Climate Correspondent, notes: "The parallels with climate change are striking. Just as we have spent decades underinvesting in sustainable energy, the UK has built a higher education system that functions as a debt-fuelled engine of warming for the economy. The inquiry must address the fundamental thermodynamics of this model: rising costs, low wages for graduates, and a disconnect between skills and market needs."
The proportion of school leavers going to university in England has fallen for the first time in a decade, dropping to 35% in 2022. Meanwhile, graduate salaries have stagnated, with median earnings for 21-30 year olds with degrees only 10% higher than those without, once adjusted for inflation.
Critics argue that the student loan system has become a regressive tax on young people. The Institute for Fiscal Studies estimates that nearly half of graduates will never fully repay their loans, leaving the government to foot the bill. The inquiry will also explore alternative models, such as the Australian system of income-contingent repayments with lower interest rates.
As the inquiry begins, student groups have called for urgent reform. "The current system is unsustainable," said a spokesperson for the National Union of Students. "We need a fairer, more progressive approach that does not burden young people with lifelong debt."
The committee is expected to report its findings by the end of the year. Whether it will propose radical change or incremental adjustment remains to be seen. But with one in three Britons already declaring the university experience not worth it, the pressure for action is mounting.
