University Tuition Fee Hike Pushes Interest in Degree Apprenticeships
University Apprenticeship Programs See Increasing Demand as Higher Education Costs Soar
Following the government's announcement of a £9,535 university tuition fee increase for students in England, there has been a surge of interest in degree apprenticeships. Data from RateMyApprenticeship indicates a 79% increase in online searches for 'degree apprenticeship' since April 2022.
In light of mounting costs for students nationwide, Oliver Sidwell, co-founder of RateMyApprenticeship, indicates that this trend may persist as more students opt for such programs in an attempt to contain costs and bolster employability. Sidwell explains, "Degree apprenticeships provide a cost-effective, practical alternative to traditional university courses. They offer students the opportunity to earn a salary, secure hands-on work experience, and earn a degree without accumulating excessive student debt."
Degree apprenticeship candidates pursue a Bachelor's or Master's degree, accruing three to six years of professional experience along the way. The average salary for these apprenticeship candidates is around £26,019.02 annually, while graduates of traditional undergraduate degrees can expect to earn £27,500 yearly, according to the Graduate Outcomes survey. However, it's important to note that those completing a traditional undergraduate degree tend to graduate with similar amounts of debt incurred from course fees alone.
Amidst concerns regarding employability and rising financial pressures, degree apprenticeships provide an attractive option for students seeking to combine education with immediate employment opportunities while obtaining a recognized qualification. Sidwell suggests that careers advisors within schools and colleges play a significant role in raising awareness of degree apprenticeships as a viable alternative for those apprehensive about the financial consequences of university education but harbor high career aspirations. "Careers advisors have a crucial role to play in exposing students to degree apprenticeship options and supporting their informed career choices," Sidwell adds.
For more information on degree apprenticeships, visit the RateMyApprenticeship website.
Additional measures are being implemented globally to increase awareness and promote degree apprenticeships as a viable alternative to conventional university education. These initiatives encompass awareness and promotion events, such as National Apprenticeship Weeks and Days; strategic partnerships and coalitions, like the Education and Apprenticeship Accelerator; innovative apprenticeship models; policy initiatives; representation and inclusion efforts; and showcasing success stories of entrepreneurs who are innovating apprenticeship pathways.
These initiatives collectively aim to ensure that degree apprenticeships receive the recognition they deserve and that students are aware of the various educational options available to them.
Personal-finance concerns, driven by the university tuition fee hike, have inspired increased interest in education-and-self-development opportunities like degree apprenticeships. Oliver Sidwell, co-founder of RateMyApprenticeship, suggests that learning about these apprenticeships can help students make informed decisions about their personal-finance situation and future careers.
