The cancellation of exams including GCSEs and A Levels in summer 2020 led to a highly controversial process for issuing grades to students. This paper looks at plans for awarding qualifications in summer 2021. Updated to reflect Ofqual's January 2021 consultation.
Documents to download
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Returns to a degree (5 MB, PDF)
In 2012 tuition fees for undergraduates taking higher education courses in publicly funded institutions in England rose to £9,000. Since then fees have risen further and many institutions now charge fees of £9,250 per year for most of their courses. The increased cost of studying has led many commentators to question the value of a degree and to ask whether taking a degree is still worth it.
Research has shown that graduates tend to earn more than non-graduates – this is the so called ‘graduate premium’. Estimates of the size of the graduate premium vary, but are typically above £100,000 across a graduate’s working life. This is net of tax and after inflation is accounted for. Graduates are also more likely to be working and less likely to be unemployed than non-graduates. There is some evidence that more new graduates are employed in ‘non-graduate’ type roles.
There is an ongoing debate about the actual size of the graduate premium and whether it has gone up or down over time. Whatever the precise level of the premium (on average) there is clearly strong evidence that there are substantial positive financial returns to a degree. This does not mean everyone will benefit to the same extent or even that every graduate will benefit.
There are large variations in graduate earnings by subject with graduates of medicine, economics and many sciences earning substantially more than those who studied art & design, agriculture, English and mass communications. There are also strong links between prior attainment and graduate earnings. Graduate earnings are higher for men and the gender gap increases over time. While there is a link between different measures of disadvantage and graduate earnings and variations between some different ethnic groups, these are less strong than the link with prior attainment
The OECD has found similar evidence across most of the developed world and concluded that, after taking all associated costs into account, that higher education is a good ‘investment’ both for the private individual and for Governments.
It has also been shown that graduates experience various non-economic benefits from a degree and research has shown that graduates tend to have better health than non-graduates and are more likely to take an active part in society.
Documents to download
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Returns to a degree (5 MB, PDF)
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A debate on the UN International Day of Education has been scheduled for Thursday 28 January 2021 in the main House of Commons Chamber. The debate was selected by the Backbench Business Committee and will be led by Harriett Baldwin MP.
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On Monday 18 January 2021, there will be an Opposition Day Debate on access to remote education and the quality of free school meals. This landing page highlights some of the available data and also provides links to existing Library and other briefings on these issues.
