Close to half of all school leavers are reconsidering going to university due to rising living costs according to a new survey from The Open University.
The new survey of 18-19 year olds in England found that over the last year, 49% of young people have been rethinking going to university due to the rising cost of living.
The survey also found that 31% of school leavers feel that university is unaffordable and 20% are still not certain on their autumn university plans because of the current climate.
Iona Bain, an expert on young people’s finance said, “It’s no wonder half of all school leavers now have doubts about going to university amid soaring tuition and living costs, mass disruption to education during lockdown, and a huge degree of uncertainty about what the world will look like in the future. When I speak to young people about their hopes and dreams, one theme comes up time and again – the desire to achieve financial independence.
“That’s why the next generation is willing to embrace alternatives to full-time campus-based education as they look for ways to earn while they learn, gain experience in the jobs market, and get a head start in the real world. Now is the time to have a serious conversation about whether full-time university education is right for everyone, and whether more young people would benefit from the flexibility and working opportunities offered by remote learning without having to forgo a high-quality education. For many young people, this could be a real – and rare – win-win scenario.”
Vice-Chancellor of The Open University, Professor Tim Blackman said, “The fact that the cost of living crisis is forcing school leavers to reassess their higher education choices is very disappointing. At the Open University, we believe everyone should have equal opportunity to higher education. Our students can study flexibly through distance learning and consider employment options so they can learn and earn. A growing number of young students are realising that the OU is a great and affordable way to study for a high quality degree.”
Read the full report here.
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