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YOU ARE IN » Home page > News and information main menu > Labour Market Information > August 2007

August 2007

Education

• Cambridge number 1 uni in UK
• The future sustainability of the higher education sector
• Student Retention in Higher Education Courses: International Comparison
• Student science bursaries needed, say business leaders
• Rise in study costs for professions
• University of Cumbria launched
• Student complaints up from last year

Student issues

• Student loan figures published
• Students underestimate uni costs
• Fall in average graduate debt
• Halifax publishes working student report
• Royal Bank of Scotland student living index

Employment

• HESA publishes graduate employment data
• Dechert announces trainee pay rise
• The value of work experience

This bulletin summarises reports and surveys, press releases and newspaper articles under the following headings: education; student issues; and employment. In education, an international comparison of student retention was published, as was research examining the future sustainability of higher education in the UK. On the student front, studies focussing on working students, graduate debt and student living costs were published. The Higher Education Statistics Agency (HESA), meanwhile, provided an overview of the destinations of graduates from 2005/06, and Dechert became the latest law firm to announce trainee pay rises.

Education

Cambridge University has been ranked the leading UK university, according to the UK University Guide. Cambridge came top of 113 universities for 35 of the 46 subjects for which it is ranked, and was the highest performing institutions for entry grades, facilities and prospects after graduation. Oxford came second, followed by Imperial College, London, London School of Economics, and St Andrews. St Andrews was ranked top university in Scotland.

(Cambridge beats Oxford in best university list, Daily Telegraph, 31 July 2007.)

This report argues that increased internationalisation of higher education brings potential benefits to the UK and its universities. It contends that collaboration and partnership are vital for the future development of the international dimension in higher education, and recommends that stakeholders look at improving partnerships with China and other countries. It also calls for a concerted drive to encourage more UK students to study abroad and that government review fee support for part-time students. Provision of high-quality postgraduate education is also discussed.

(The Future sustainability of the higher education sector: International aspects, House of Commons Education and Skills Committee, 5 August 2007.)

This study compares and contrasts retention and participation rates in Australia, Ireland, the Netherlands and the United States. It notes that the UK is one of the better performers in terms of completion and survival rates of students, compared with the other countries studied. It also reviews the approaches used by higher education institutions to maximise likelihood of student retention, trends in student and participation rates, reasons for students leaving higher education. Potential areas that could be transferable to the UK are also documented.

(Student retention in higher education courses: International comparison, C van Stolk, J Tiessen, J Clift, R Levitt.)

The Confederation of British Industry (CBI) has called for the introduction of bursaries of £1,000 for undergraduates taking science, technology, engineering and maths (STEM) subjects, in a bid to increase the proportion of students taking these subjects. The bursaries, which would cost £200 million annually, form part of a five-point plan launched by the CBI. £120 million of new funding to pay for one-to-one careers advice, more specialised science teachers and better-equipped science laboratories also feature in the CBI’s proposals.

(£1k annual bursary for every science student would help reverse skills decline - CBI, CBI press release, 13 August 2007.)

Research from The Children’s Mutual has calculated that the total sum for training to be an architect, doctor, solicitor, engineer or nurse has risen dramatically over the last year. The study found that the average total cost of a three-year degree course stands at £38,000, taking into account tuition fees, accommodation, equipment, clothing, travel and books, but the final bill for these five professions range from £38,600 to £79,500, compared with a range of £32,500 to £69,000 in 2006.

(Study costs for professions soar, Children’s Mutual press release, 15 August 2007. Please contact The Children's Mutual for further details).

The Higher Education Funding Council for England (HEFCE) has welcomed the creation of the University of Cumbria, launched on 1 August. The creation of the university is expected to cost £145 million during its first five years, and will benefit from funding from HEFCE, the North West Regional Development Agency and other partners. The new institution was formed following the merger of St Martin’s College, Cumbria Institute of the Arts in Carlisle and two of the Cumbrian campuses of the University of Central Lancashire.

(HEFCE welcomes the creation of the University of Cumbria, HEFCE press release, 1 August 2007.)

A total of 465 eligible complaints were made by students to the Independent Adjudicator for Higher Education in 2006, according to the organisation’s annual report. The complaints, which related to England and Wales, were up 44% on the previous year. Most complaints were about academic results, while others included welfare, human rights or disciplinary action. The report also cited a successful challenge from a student expelled from plagiarism.

(More students lodge complaints, BBC Education, 16 August 2007.)

Student issues

Figures from the Student Loans Company (SLC) reveal that £1.846bn in student loans is owed by borrowers completing their university studies in Scotland. This compared with £18bn in England. The amount loaned to students in Scottish higher education in 2006/07 totalled £197.6m, while in the same period, £51.5m was repaid by students to the SLC. Of the 352,000 borrowers, 249,000 had started paying off their debt, and 8,600 people had paid off in full at least one of their accounts.

(Students' loans bill tops £1.8bn, BBC Scotland, 21 August 2007.)

Research among 4,000 people by the Association of Investment Companies claims that would-be students and their parents are underestimating the cost of a university education. Would-be students anticipate graduating with debts of less than £8,000, and parents £10,000; the average debt on graduation, at present, is £13,252. 93% of parents surveyed are willing to make significant financial sacrifices for their children to attend university, and 31% of prospective students expect to live at home to avoid extra debt. 4,009 people were surveyed.

(Students and parents underestimate the true costs of university eduation, AIC press release, 27 July 2007.)

Research from NatWest notes a fall in the average graduate debt for the first time in six years. Graduates leaving university in 2007 now owe, on average, £12,363, a fall of 6% from 2006. However, the survey also notes that sixth-formers starting university this year anticipate paying £24,740, on average, for a three-year degree course, up from £33,512 and includes the new tuition fees. 1,364 graduates, 1,104 students and 1,020 sixth-formers were surveyed.

(Student Money Matters, NatWest press release, 14 August 2007.)

The average weekly wage for working students is £112.20, claims research from the Halifax bank. Over half of the students working earn over £100 per week and the top 15% of working students earn over £200 per week. On average, students with a part-time job work 17.8 hours per week. 52% work to fund their studies or living costs while at university, with those in Scotland being the most likely to have a job and work the longest hours. 1,005 students were surveyed.

(Working students earn £6,000, Halifax press release, 15 August 2007.)

The report explains that Leeds is the most cost-effective university town in Britain, while Nottingham is the least cost-effective. London is the most expensive city, both in terms of weekly living costs and weekly rent. The study also highlights that 41% of undergraduates are working during term time to help offset living costs, while parental contributions have fallen from first place as the primary source of financial support for students. In total, British students taking term-time jobs expect to earn around £2.1 billion over the coming academic year.

(Student Living Index, Royal Bank of Scotland, August 2007.)

Employment

Figures from the Higher Education Statistics Agency (HESA) show that unemployment levels vary by degree classification. 4.4% and 5.7% of students obtaining first and upper-second degrees via full-time study were ‘assumed to be unemployed’, compared with 8.1% of those qualifying with a lower second and 11.3% for a third. Leavers with degrees not subject to classification (for example, medicine) had the lowest unemployment rate. The analysis is based 188,330 UK- and EU-domiciled qualifiers achieving first degrees following full-time study in 2005/06 and with known destinations.

(Graduate unemployment under 6% for those with best degrees, HESA press release, 15 August 2007.)

US law firm Dechert has unveiled new pay bands for its trainee and newly qualified solicitors. The firm has increased its first-year trainee salaries from £32,000 to £36,000, while second-year pay will rise from £37,000 to £41,000. The new salaries come into effect on 1 October 2007. The firm, which typically recruits 15 trainees a year, is also raising the maintenance grants it gives its trainees attending the Legal Practice Course (LPC), rising from £7,000 to £10,000 from September 2008.

(Dechert joins associate salary war, The Lawyer, 7 August 2007.)

In an interview with Ri5 magazine, Liz Rhodes, Director of the National Council for Work Experience (NCWE) discusses the importance of work experience, and the need to communicate this with employers. She considers the relationship between careers services and employers, assesses the attractions of work experience for employers and advises on the issues employers looking at setting up work-experience schemes should consider. The NCWE’s guide to work experience for students is also discussed.

(No substitute for work experience, Ri5, 20 August 2007.)