Wasted Student Loans
One third of graduates basically waste three years of their life and thousands of pounds. Now, about 30% of graduates end up in nongraduate jobs five years after leaving university, up from about 20% in 1992. This is due, quite obviously, to the [stupidly] massive increase in the numbers of students going to university.
The rise in the number of graduates seeking employment isn’t matched by an equal rise in the number of graduate jobs available. But the rise in students numbers has also meant that a large number of less academically able people have gone.
This would be a good thing, were the point of a university education simply to improve the education of the populace. But it’s not. The sheer cost of going to university - with student debt topping £3 billion - makes it more about an opportunity to improve job prospects. And for those at low-ranking universities who study arts degrees, it doesn’t do much for them.
This is why the attempt by Labour to get 50% of 18 year-olds to go to university won’t - and could never - work. There simply aren’t enough graduate jobs, as has now been proven.
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