Flexibility to work while studying and reduced living and travel costs make College a cost-effective Higher Education option

Major differences between the way UK colleges and universities deliver higher education (HE) courses mean that college students are graduating with an average of around £17,500 less debt than their university counterparts, according to new research released on Monday by the Association of Colleges (AoC). 

As the Browne Review of higher education and the Comprehensive Spending Review throw the spotlight on the issue of HE debt more starkly than ever, the AoC’s study has found that, on average, college students graduating in the next few years expect to owe a total of around £5,681¹.

By contrast, a recent study by university researchers Push² has forecast that students who started at university last year are likely to owe more than £23,200 by the time they leave and new students should reckon on around £1,500 more than that. by the time they leave and new students should reckon on around more than that.

The AoC’s findings highlight how a combination of greater opportunities to work part-time while studying, the ability to live at home and reduced travel costs are all key factors in minimising the overall debt levels of HE college students.

Joy Mercer, Director of Policy (Education), Association of Colleges said: “In the wake of the Browne review on tuition fees and the changes to higher education funding set out in the Comprehensive Spending Review, prospective HE students are faced with making significant upfront investments in their future. Now, more than ever, they will want to weigh up their different options carefully to see how they can keep debts to a minimum while achieving a high quality qualification.

Martin Penny, Principal at Stratford-upon-Avon College, commented, “These initial findings highlight the vital role that colleges are playing in providing high quality, affordable, flexible HE courses to young people and adults across the UK, offering an attractive alternative route to achieve the qualifications they need to progress in their chosen careers.”

Stratford-upon-Avon College offers a range of higher education courses that are designed to develop the skills and knowledge that will enable learners to progress on to other HE courses or to find suitable employment. The College offers HE programmes in Media, Hospitality Management, Musical Theatre, Computer Systems Management and Early Years. For more information visit www.stratford.ac.uk|.

Cuts in higher education funding will also affect colleges and, like universities they will be looking at their future fee structures. However, college tuition fees have, on average, been lower than those set by universities. As colleges deliver HE in a very different way, with a greater emphasis on part-time provision, students have more scope to keep their costs down while still achieving Foundation, Bachelors and Masters degree courses at a local level.

According to the research:

• Almost 70% of college higher education students work full or part-time while studying
•  Average earnings of college higher education students while studying are £10,825
•  71% of college higher education students live at home with parents/family
•  Just over one in ten college higher education students incur no travel costs in getting to college
•  The average student loan for higher education college students is £4776 per year
•  The average cost of studying higher education at college, including fees, living costs, travel expenses, study materials etc is £ 8,967 per year

Adrian Bailey, Chair of the Business, Innovation and Skills Select Committee, commented: “In today’s straightened economic times, HE students want the flexibility to be able to work and study at the same time, as well as the choice to study close to their own homes. Colleges, including Sandwell College in my own constituency, enable them to do this and minimise the personal debt they incur as a result.”

There are currently 168,000 students on Higher Education courses at over 260 colleges around the country. The range of HE qualifications and training that college students can access at a local level is vast – from full Bachelors and Masters Degrees to Higher National Diplomas and professional vocational qualifications such as accountancy, journalism and teaching.

Notes to Editors:

¹ This figure is based on students undertaking a three year course. The table below outlines average anticipated debt by students undertaking 1, 2 and 3 year courses.

*Further research needs to be undertaken to investigate why total average anticipated debt is higher for one year courses than for two or three. AoC believes this may be due to the level of debt that students are willing to incur over a shorter period out of work.

² The PUSH Student Debt survey, published on www.push.co.uk|, is based on over 2000 student interviews at 139 university campuses around the UK. It found that university students’ debts now top £5,600 for each year of study, up 5.4% on last year.

The AoC’s survey collated 512 responses from students across the UK during August-September 2010. The online survey was distributed on 2 September 2010 to higher education managers via the AoC Electronic Briefing system – which is distributed to all member colleges, comprising over 400 HE managers across the country. Contacts were asked to encourage as many of their students as possible to complete the survey. A repeat request was made via the same system on 1 October. AoC also distributed a link to the survey via email to HE managers in colleges with large numbers of students.

Colleges Week: The release of the AoC’s research launches Colleges Week 2010, the education sector’s major annual showcase for the vital role colleges play in providing individuals and businesses with the opportunities they need to succeed.

The theme this year is “Your Future, Your Choice”. A range of activities are being organised around the country between 8-14 November, from sporting fundraisers, to social networking competitions to media launches and business events, aimed at celebrating the diversity of college activity and helping students make informed decisions about which route to further education is right for them. See www.Collegesweek.org| for more information.

Contact:

Octopus Communications for Colleges Week, Susie Loughnane, Louise Oliver, Jodie Lake

Email: Collegesweek@octopuscomms.net|, Tel: 01753 827291

 marketing@stratford.ac.uk|