A new HSBC survey has revealed that parents feel that university is poor value for money.
The timely survey results were released just as tuition fees in England look set to rise and the maintenance grant is to be scrapped and parents thinking that university is poor value for money.
HSBC looked into the cost of education around the world, by questioning 5,500 parents from 16 different countries. The survey found that while many parents still hope that their children go to university, they also believe that a university education offers poor value for money.
Parents from the UK, as well as Canada, the United States, and France all rank in the top ten of nations whose parents believe university offers fairly poor or very poor value for money.
The bad news continued as 48% of those who felt university offered poor value, also felt that a university degree fails to teach skills that are applicable in the real world, while a further 45% don’t think a degree does enough to enhance career prospects.
The report concluded that, aside from being expensive, a university degree doesn’t adequately equip students to stand out in the job market and thereby fails to meet the changing demands of the modern world.
Of course, universities would argue otherwise, but whoever is right, there is clearly a problem with perception, if nothing else.
If parents are starting to think that university is an expensive endeavour that fails to offer any tangible rewards at the end, then it is evident that university bosses need to do more to show that they are still relevant – especially with fees continuing to rise!