Student Lifestyles - UK - June 2014
“Universities are operating in an increasingly competitive marketplace for higher education, with an estimated revenue stream of £18.7 billion in the UK. Domestic institutions are also competing with foreign universities, as more and more students choose to study abroad in search of a lower cost of living and cheaper fees. Universities would benefit from stepping up their efforts to learn about student expectations and how they can match them to drive growth in the education sector.”
– Ina Mitskavets, Senior Lifestyles and Consumer Analyst
This report deals with the following issues:
- Making the transition from home to university smoother
- Opportunities for parents to be firmer about asking their offspring to contribute around the household and learn budgeting skills
- Students expect universities to deliver more value for money as a result of raised tuition fees
Gone are the days when a university graduate can walk out of the university into a good job. Today’s students feel under pressure, have to contend with historically high student debt and are worried about being able to find the right job (or indeed any job) after graduation.
In the aftermath of raised tuition fees there is growing consumer pressure from students driven by feelings of dissatisfaction with services provided by their institutions. Universities operating in an increasingly competitive space would benefit from expanding their range of services, introducing more flexibility into their offering, and generally being more transparent to compete for the brightest applicants and to help prospective students make a more informed choice about where to study.
This report will look at the changing educational choices and reasons for going to university. It will delve into the state of student finances and how students spend their money. The report will also examine their postgraduate plans and attitudes towards their future prospects, raised tuition fees and parental pressure for academic achievement.
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