To cap it all, fees will have to rise

In the wake of the publication of Lord Browne’s review on university funding, CMI (Chartered Management Institute) has issued a warning to students and universities.

Urging acceptance of the need for a rise in education fees as the UK continues to grapple with debt, CMI is reminding students that university education is not an assumed right but, at the same time, is calling on the country’s universities to show greater transparency about how students will benefit from increased costs.

Petra Wilton, director of policy and research at CMI, says: “Generation Y, and those that follow, are the first to pay more for their higher education. But with the caveat of cost attached, many prospective students will want universities to justify the increase in fees and be open about the impact greater investment will have on their long-term career options.

“Looking at Generation Y, more than 4 out of 10 either live in rented accommodation or with their parents. Their lack of disposable income means that many will think twice about university education, unless they can see long-term added value in the degrees on offer. Students will want to know what return on investment they can expect in terms of job expectations and future employability. For the UK’s universities, this means ensuring the courses on offer are directly relevant to the workplace. It also means widening their remit by fostering links between faculties, employers and professional bodies. After all, if changes to fees are being brought in, we need more and better career advice and guidance to help students make the right choice, so that universities are seen to play a vital role shrinking the gap between education and employment.”

In the wake of Lord Browne’s report, CMI is also calling on the UK’s universities, schools and colleges to forge closer alliances with professional bodies. Wilton says: “All too often employers complain that students are not ‘work ready’ from day one, but the chasm that exists between what employers want and what students are able to offer can be bridged if employers, educators and ‘the professions’ collaborate to bring professional development into the education experience. Not only will it mean that individuals can benefit at a personal level, but employers will have the chance to influence the talent of the future and influence the professional development of the very people they hope to employ.”

CMI’s comments follow research* which shows that students with professional qualifications stand to gain an additional £152,000 during the course of their career lifetime and enjoy a 9 per cent increase in the probability of being employed. The Treasury also stands to benefit, with the estimated additional lifetime tax revenue contributed by an individual with professional qualifications standing at £53,000.

From Chartered Management Institute


As Channel Island residents are having to pay considerably more than UK residents, in fact almost International Student rates.... how much of a difference will this have on us? How will we afford to pay for our youngsters to gain Higher Education - especially when the States do not help?




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