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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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Table of contents

  1. Introduction

      • Methodology
        • Abbreviations
        • Executive Summary

            • Degree as a prerequisite for getting a job
              • Figure 1: Reasons for going to university, April 2014
            • Nearly two thirds of monthly income is spent on rent, bills and groceries
              • Figure 2: Monthly term time expenditure (mean spend), April 2014
            • Convenience drives eating habits
              • Figure 3: Cooking and eating habits, April 2014
            • Students are getting more serious about their education
              • Figure 4: Attitudes towards tuition fees and future prospects, April 2014
            • What we think
            • Issues and Insights

                • Making the transition from home to university smoother
                  • The facts
                    • The implications
                      • Opportunities for parents to be firmer about asking their offspring to contribute around the household and learn budgeting skills
                        • The facts
                          • The implications
                            • Students expect universities to deliver more value for money as a result of raised tuition fees
                              • The facts
                                • The implications
                                • Trend Application

                                    • Trend: Help Me Help Myself
                                      • Trend: Click and Connect
                                        • Mintel Futures: Generation Next
                                        • Student Demographics

                                          • Key points
                                            • Tuition fees
                                              • Higher education statistics
                                                • Figure 5: Trends in first year student enrolments in higher education courses, by mode of study and domicile, UK, 2008/09-2012/13
                                              • A global perspective
                                                • Higher education participation by gender
                                                  • Figure 6: Undergraduate students, by mode of study and gender, UK, 2012/13
                                                • Subject area
                                                  • Figure 7: Full-time undergraduate student enrolments, by subject area, UK, 2011/12 and 2012/13
                                                • Average graduate earnings
                                                  • Figure 8: Average annual pay for graduates with undergraduate degrees, by main subject of undergraduate degree, UK, April-June 2013
                                                • University group and working status
                                                  • Figure 9: Working status, by university group, April 2014
                                                • Current living situation
                                                  • Figure 10: Current living situation, by gender and age, April 2014
                                              • The Consumer – Reasons for Going to University

                                                • Key points
                                                  • Graduate premium continues to fall
                                                    • Figure 11: Reasons for going to university, April 2014
                                                  • Student priorities vary by gender
                                                    • Figure 12: Reasons for going to university, by gender and age, April 2014
                                                • The Consumer – Student Spending Habits

                                                  • Key points
                                                    • Majority of students manage to get by financially
                                                      • Figure 13: Current financial situation, April 2014
                                                    • Students living with mum and dad feel more financially secure
                                                      • Figure 14: Current financial situation, by current living situation, April 2014
                                                    • Nearly two thirds of monthly income is spent on necessities
                                                      • Figure 15: Monthly term time expenditure (mean spend), April 2014
                                                    • Cost of living an important driver of student satisfaction
                                                      • Figure 16: Monthly term time expenditure on rent and bills (excluding mobile phone), savings and mobile phone, by university region, April 2014
                                                    • Spending priorities vary by gender
                                                      • Figure 17: Monthly term time expenditure, by gender and age, April 2014
                                                    • Juggling work and studies to keep afloat
                                                      • Figure 18: Monthly term time expenditure, by working status, April 2014
                                                    • Stay-at-home students save more than twice on rent compared with others
                                                      • Figure 19: Monthly term time expenditure, by current living situation, April 2014
                                                  • The Consumer – The Student Experience

                                                    • Key points
                                                      • Student concerns evolve with age
                                                        • Figure 20: Student concerns, April 2014
                                                      • Helping students deal with stresses of university life
                                                        • Figure 21: Student concerns, by gender and age, April 2014
                                                      • Money may not buy happiness
                                                        • Figure 22: Student concerns, by current financial situation, April 2014
                                                      • Fledgling couples could benefit from financial advice
                                                        • Figure 23: Student concerns, by current living situation, April 2014
                                                    • The Consumer – Students’ Cooking and Eating Habits

                                                      • Key points
                                                        • Growing awareness about healthy eating
                                                          • Lack of time encourages unhealthy snacking
                                                            • Figure 24: Cooking and eating habits, April 2014
                                                            • Figure 25: Example of a ‘Farmer’s Fridge’ vending machine, May 2014
                                                          • Females have a sweeter tooth compared with males
                                                            • Figure 26: Cooking and eating habits, by gender and age, April 2014
                                                            • Figure 27: Fruit Loaded Chunky Granola, May 2014
                                                          • Students develop healthier eating habits after leaving parental home
                                                            • Figure 28: Cooking and eating habits, by current living situation, April 2014
                                                        • The Consumer – Postgraduate Plans

                                                          • Key points
                                                            • Getting on the career ladder is priority number one
                                                              • Figure 29: Plans after graduation, April 2014
                                                            • Desire to get a second degree grows weaker with age
                                                              • Figure 30: Plans after graduation, by gender and age, April 2014
                                                            • Nearly a quarter of students in their third year or beyond are uncertain about where they will live after graduation
                                                              • Figure 31: Living plans after graduation, April 2014
                                                            • Almost three in 10 females aged 18-20 will move back with parents after graduation
                                                              • Figure 32: Living plans after graduation, by gender and age, April 2014
                                                          • The Consumer – Parental Influence

                                                            • Key points
                                                              • Tuition fees bite at Russell Group universities
                                                                • Figure 33: Attitudes towards the role of family and parental expectations, April 2014
                                                              • British mums and dads show a more lenient side
                                                                • Figure 34: Attitudes towards the role of family and parental expectations, by current course year, April 2014
                                                              • Parental expectations higher for older sons
                                                                • Figure 35: Attitudes towards the role of family and parental expectations, by gender and age, April 2014
                                                            • The Consumer – Attitudes towards Tuition Fees and Future Prospects

                                                              • Key points
                                                                • Young people are becoming more serious about their education
                                                                  • Figure 36: Attitudes towards tuition fees and future prospects, April 2014
                                                                • Female students expect more from universities
                                                                  • Figure 37: Attitudes towards tuition fees and future prospects, by gender and age, April 2014
                                                                • Family background has a direct effect on student confidence in being able to find their ideal job
                                                                  • Figure 38: Attitudes towards tuition fees and future prospects, by university group, April 2014
                                                              • Appendix – Student Demographics

                                                                  • Figure 39: Student demographics – Gender and age, April 2014
                                                                  • Figure 40: Student demographics – Age within gender, April 2014
                                                                  • Figure 41: Student demographics – University region, April 2014
                                                                  • Figure 42: Student demographics – University group and current course year, April 2014
                                                                  • Figure 43: Student demographics – Parental social grade, April 2014
                                                                  • Figure 44: Student demographics – Working status and current living arrangements, April 2014
                                                              • Appendix – The Consumer – Reasons for Going to University

                                                                  • Figure 45: Reasons for going to university, April 2014
                                                                  • Figure 46: Most popular reasons for going to university, by demographics, April 2014
                                                                  • Figure 47: Next most popular reasons for going to university, by demographics, April 2014
                                                              • Appendix – The Consumer – Student Spending Habits

                                                                  • Figure 48: Term time expenditure (mean), April 2014
                                                                  • Figure 49: Term time expenditure (mean) – Monthly, by demographics, April 2014
                                                                  • Figure 50: Term time expenditure (mean) – Weekly, by demographics, April 2014
                                                                  • Figure 51: Current financial situation, April 2014
                                                                  • Figure 52: Current financial situation, by demographics, April 2014
                                                              • Appendix – The Consumer – The Student Experience

                                                                  • Figure 53: Current financial concerns, April 2014
                                                                  • Figure 54: Biggest student concerns, by demographics, April 2014
                                                                  • Figure 55: Other student concerns, by demographics, April 2014
                                                                  • Figure 56: Current financial concerns, by current financial situation, April 2014
                                                              • Appendix – The Consumer – Students’ Cooking and Eating Habits

                                                                  • Figure 57: Cooking and eating habits, April 2014
                                                                  • Figure 58: Most popular cooking and eating habits, by demographics, April 2014
                                                                  • Figure 59: Next most popular cooking and eating habits, by demographics, April 2014
                                                              • Appendix – The Consumer – Postgraduate Plans

                                                                  • Figure 60: Plans after graduation, April 2014
                                                                  • Figure 61: Living plans after graduation, April 2014
                                                                  • Figure 62: Most popular plans after graduation, by demographics, April 2014
                                                                  • Figure 63: Living plans after graduation, by demographics, April 2014
                                                              • Appendix – The Consumer – Attitudes towards Parental Influence, Tuition Fees and Future Prospects

                                                                  • Figure 64: Attitudes towards tuition fees and future prospects, April 2014
                                                                  • Figure 65: Attitudes towards tuition fees and future prospects, by most popular reasons for going to university, April 2014
                                                                  • Figure 66: Attitudes towards tuition fees and future prospects, by next most popular reasons for going to university, April 2014
                                                                  • Figure 67: Most popular attitudes towards tuition fees and future prospects, by demographics, April 2014
                                                                  • Figure 68: Next most popular attitudes towards tuition fees and future prospects, by demographics, April 2014

                                                              Companies Covered

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                                                              Student Lifestyles - UK - June 2014

                                                              £1,995.00 (Excl.Tax)