A recent annual survey has shown that only around a third of UK University students feel that they are getting value for money at university.

The statistics showed that from a survey of 15,000 students, only 37% felt that they got ‘good value for money’ from their course, compared to 53% in 2012.

University tuition fees

This figure is clearly influenced by tuition fees since 65% of students in Scotland, where there are no fees, rated their university as offering value for money, compared to around 32% in England, where tuition fees are currently up to £9,000 per year.

Clearly for students the value of their course is related to the costs involved, which has led universities minister Jo Johnson to say universities need to deliver with a “sharper eye for value.”

Should university be value for money?

But should university be all about value for money? And what do students feel is value for their fees?

The Student Academic Experience Survey, which was produced by the Higher Education Policy Institute and the Higher Education Academy, shows that student satisfaction is closely linked to the quality of teaching staff as well as time spent in contact with their tutors in seminars and lectures.

Contact time and value for money

Unsurprisingly, students aren’t overly concerned with matters like research, and those courses with higher levels of contact time between staff and students tended to be rated as offering better value for money.

This is perfectly understandable since students want to feel they are gaining something extra from being at university that they could not get elsewhere. This means access to tutors who can teach and guide them in their studies, rather than just being told to go and read some books which, let’s be honest, you could do anywhere (in fact we recommend that you try to do some reading regularly – books may even increase your earnings later on!)

Tuition fee increases

With government proposals to increase fees in England beyond £9,000 for those universities who can prove they have high quality teaching, student concerns over fees and value for money have only been heightened.

Nick Hillman, director of the Higher Education Policy Institute, said, “students really, really care about contact hours, ” noting that when it came to the prospect of raising fees further, “universities must show how any extra fee income will directly benefit their students.”

This makes sense, after all why would students want to pay more to get the same or less in return?

Of course, the cost of university has also led many young people to wonder whether to go to uni or not.

The crux of the matter is that university is no longer just about education, but now needs to show that it can provide a very real return for the thousands of pounds that are being asked for in tuition fees. This means that there is greater scrutiny by students on things like contact time with tutors and what they are actually getting for their money while they are studying. However, the cost of university also means that there also needs to be more proof that the investment is worth it at the other end when students graduate and enter the job market.

Making education into a business means that universities now have to do more than ever to please their customers and prove that they offer value for money in the marketplace – especially with the competition from alternative routes heating up!