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Is higher education still worth the cost?

Author

Listed:
  • Gill Wyness

    (UCL Centre for Education Policy and Equalising Opportunities, University College London)

Abstract

The university experience has changed in the new COVID-19 world. The vast majority of students are receiving most of their teaching online. Social distancing limits their ability to enjoy the social aspects of university This has led many to wonder whether university degree is worth it. This briefing note summarizes the evidence on the costs and benefits of university. It considers the costs young people from different backgrounds pay to get into HE and the expected return. We see wide variation in the returns to degrees. Some subjects offer lower returns than others. The UK’s higher education finance system offers protection against the risk of low earnings. This may prove crucial over the coming years.

Suggested Citation

  • Gill Wyness, 2020. "Is higher education still worth the cost?," CEPEO Briefing Note Series 9, UCL Centre for Education Policy and Equalising Opportunities, revised Nov 2020.
    • Handle: RePEc:ucl:cepeob:9
    as

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    File URL: https://repec-cepeo.ucl.ac.uk/cepeob/cepeobn9.pdf
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    References listed on IDEAS

    as
    1. Stuart Campbell & Lindsey Macmillan & Richard Murphy & Gill Wyness, 2022. "Matching in the Dark? Inequalities in Student to Degree Match," Journal of Labor Economics, University of Chicago Press, vol. 40(4), pages 807-850.
    2. repec:mpr:mprres:3250 is not listed on IDEAS
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    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    higher education; returns; social mobility; degree earnings;
    All these keywords.

    JEL classification:

    • I23 - Health, Education, and Welfare - - Education - - - Higher Education; Research Institutions
    • I24 - Health, Education, and Welfare - - Education - - - Education and Inequality
    • I28 - Health, Education, and Welfare - - Education - - - Government Policy

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