Half of universities expect to see a drop in the amount of applications next year due to the huge increase in tuition fees
Universities are expecting to see up to a fifth of undergraduates as the cost of degrees increase to £9,000. This has presented universities with the risk of financial problems and has meant that universities are planning to recruit more foreign students to fill the financial black hole that has been created. These foreign students can expect to be paying up to £26,000 a year.
Officials from England universities expect to see a 41% rise in the total income received from foreign students up to £3m. A survey conducted by YouGov has suggested that up to a third of students no long believe a degree is worth the money.
But Martin Lewis, founder of MoneySavingExpert.com and head of a new Independent Taskforce for Student Finance Information;
“We have a near national crisis with the perception of student loan 2012 debt,” he said. “Prospective students are making their decision based on headline fee levels rather than how much it’s actually likely to cost them. Repayments are proportionate to income, the more you earn the bigger your repayments.”
Many graduate recruiters fear that the current shortage in skills for graduates who apply to the current graduate jobs will only get worsened, especially with the increase in students leaving school and starting straight away in the world of work.
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