There are an increasing number of graduates in the UK that are regretting enrolling in a university. In fact, 1 in 3 millennial graduates are not happy about going to a university due to debts. The research on UK graduates was done by Aviva and was published before A-level results were announced. In the company’s report, it sheds light on the feeling of regret that most graduates come across after enrolling in a university.
Generation Regret – A Study on UK Graduates
Aviva completed its research on UK graduates who regret enrolling into a university. The research results made it evident that a majority of the graduates who hated their decision of getting into a university was based on the financial hardships that they suffered as a result of their studies. Many of the graduates are worried about adding up their debts, which is why they want to put university on hold and look for jobs.
According to the study by Aviva that is named ‘Generation Regret’, almost 37% of graduates regret their decision of going to a university due to the debt that they have accumulated and have to pay off. Another aspect of this research study showed that almost 49% of graduates believed that they would’ve done perfectly fine without graduating from a university.
The study results clearly proved that almost 50% of UK graduates did not find their university degrees useful. Millennial graduates in the UK do not perceive university degree to be helpful in advancing their career. Most of the university graduates part of this study said that they would’ve got their current jobs with or without a graduate degree. This shows that the curriculum taught in universities is not as valuable as the money that is spent on it.
Increased Burden of Debt
The other reason that came out as a result of the Aviva study clearly shows that most graduates regret attending a university and getting a university degree due to the debt it put them under. The cost of universities is so incredibly high that the majority of students are unable to pay for the tuition on their own. This means that more students opt for student loans which they are unable to pay off and accumulate lots of debt.
However, tuition fee for universities was not so high and it was only until 1998 that the government started charging for university tuition. The tuition fee for universities in England and Wales spiked to £9,000 a year in 2012, which is a hefty amount of money to pay. The university tuition fee in the UK rises with every passing year. That’s the reason more students are not only hesitant in enrolling in a university, but a majority of those who attended regret their decision.
By reading through the aforementioned study, it is clear that the burden of debt is far greater than the value received from universities in the UK.