Public confidence in university degrees is wavering as graduate earnings premium shrinks
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Editorial
Summary
An editorial arguing that public confidence in university degrees is declining, citing new IFS research showing that while most graduates benefit from an average £100,000 lifetime earnings premium, one in four end up worse off. The premium has shrunk by 30% compared to six-year-old forecasts. The piece weighs unfair changes to student loans and concerns about job prospects against the life-changing potential of education, urging ministers to shore up confidence in higher education.
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bskyPublic confidence in university degrees is wavering as graduate earnings premium shrinkstheguardian.comKey quotes
· 4 pulledIs going to university financially worthwhile? New research on graduate incomes is unlikely to help the beleaguered sector's reputation.
Even though most benefit from an earnings premium, worth around £100,000 on average over a lifetime (after tax and student loan repayments), the finding that one in four people end up worse off proves that there are no guarantees.
The premium has shrunk by around 30% compared with forecasts from six years ago.
Unfair changes to student loans and concerns about job prospects must be weighed against the life-changing potential of education.
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