For a long time, higher education was a privilege for only a few but desired by many. Now, new research suggests that a third of people think a university degree isn’t worth the time or the money.
The university degree: who it was built for, and how it changed
In England, when Oxford and Cambridge were founded, students were overwhelmingly male, upper- and upper-middle-class, and for many gentlemen the degree was cultural and social rather than vocational training. Essentially, a degree was not about learning, but it served as a gateway to power and money.
The University of London, founded in 1828, was designed to change this. It differed from other institutions in the fact that it was cheaper, to cater for “middling rich people”, and it had a strong emphasis on professional training in vocations like medicine, law, and engineering – subjects that Oxford and Cambridge neglected.
Progress was slower for women, unfortunately. The University of London was the first in the UK to award degrees to women, which it did in 1878. Oxford and Cambridge held out far longer: women did not receive degrees from Oxford until 1920, or from Cambridge until 1948. The legacy is still visible today: at Oxford and Cambridge, the majority of students are still male despite girls being at least as likely as boys to achieve the top A-level grades these universities require.
An eightfold increase in student numbers took place between 1900 and 1962 – from 25,000 full-time students to 216,000. But it was the Robbins Report’s guiding principles that “courses of higher education should be available for all those who are qualified by ability and attainment to pursue them and who wish to do so,” that really changed things. Following the report, the number of UK universities doubled to 45 by 1970 and doubled again to 89 by 2000 after the 1992 decision to grant university status to polytechnics and colleges. In the UK, the share of 17–30-year-olds enrolled in higher education rose from about 5% in 1960 to 43% in 2007.
The fees revolution
Here’s the thing, UK university education was free at the point of entry until 1998.
Tuition fees were first introduced under Tony Blair’s Labour Government, requiring students to pay £1,000 per year. Fees rose to £3,000 in 2006 and then to £9,000 per year in 2012 — making English tuition fees among the highest in the world.
Despite enrolment rates more than doubling since the 1998 reforms, rising from around 16% to around 35% by 2015, the debt burden is significant: the average student loan debt in England is £46,150, taking an average of 29 years and 4 months to repay.
Rising public concern over value of degrees
MPs have now launched an inquiry into the student loan system in England as growing public concern over the value of a university degree places pressure on policymakers.
The Treasury Select Committee will hear evidence from student organisations, graduates, and sector experts focusing on interest rates and the long-term financial impact of student debt.
The launch of the inquiry coincides with new findings from the British Social Attitudes survey, which shows that public confidence in the value of higher education has fallen to its lowest level in two decades.
According to the latest data, 34% of people in 2025 agreed a university education “just isn’t worth the amount of time and money,” up from 14% in 2005.
At the same time, there has been a decline in those who believe going to university leaves graduates “a lot better off” in the long run, down from 50% in 2005 to 36% in 2025.
Sheila Flavell, CBE, COO of FDM Group said: “The workplace is shifting, and AI is now embedded across almost every business. Therefore, it is essential that the focus is directed toward providing young people with the job-ready skills they need to succeed in today’s workforce.
“Roles which students have been working towards are changing faster than their degrees can keep up, with many altering their career plans in response to the surge in AI adoption.
“Businesses need skills that education alone doesn’t always teach, and the solution requires a combined effort from the Government, organisations, and education providers. Universities must embed AI skills into their curriculum and work more closely with industry to ensure graduates are prepared for today’s roles, to future proof their careers and the talent pipeline.”
More than 50,000 people have submitted written evidence to MPs, with many of these graduates saying they did not understand the terms of their student loans when they signed up.
Among these submissions are graduates who took out what are called Plan 2 loans between 2012 and 2023, a group particularly affected by rising balances and interest accrual.
Graduates in England repay 9% of whatever they earn over a threshold, which is due to be frozen at £29,385 from April 2027 for three years, a move expected to bring more people into repayment sooner.
Are apprenticeships the way forward?
Not only is going to university a costly experience but there is no longer a guarantee of a job after graduating. The graduate job market is under severe strain – UK graduates are facing the worst job market since 2018, with an average of 140 applicants per vacancy, and the number of graduate job posts is down by 33% compared with 2024. Graduate jobs in the UK have fallen to their lowest ever level, with just 10,000 on offer at one point in early 2026. One Birmingham graduate applied to 1,200 jobs over 18 months before finding employment.
Plus, even if a graduate does find employment, they quite often discover that the role doesn’t require a degree anyway. A March 2026 study found that almost a third of UK graduates are employed in positions that do not require a degree – and if current trends persist, between 40% and 45% of UK workers could be working below their qualification level by 2035.
So it’s no wonder that the apprenticeship landscape is shifting, alongside young people and businesses attitudes. Apprenticeships are not only valuable to a student or young person wanting to forge a future, but also for the organisations recruiting them. In a symbiotic relationship of sorts, the employee gets an array of valuable skills, perks, experience, and life lessons whilst the employer gets an ambitious individual that they can mould into an ideal member of their future workforce.
Above all else, apprenticeships are there to enhance opportunities for young people looking to kickstart their lives in a variety of careers. Apprenticeship schemes offer young students looking to come out of school the capability to gain further knowledge, learn a trade, get a feel for the working world, get paid to learn, improve their employability, and gain a plethora of hands-on experience.
Research found that 93% of people who completed an apprenticeship in 2020/21 sustained employment – compared to 87.6% of all working-age graduates in employment in 2024. Crucially, apprentices who sustain employment aren’t job hunting after qualification – 85% of apprentices remain in full-time employment after completing their apprenticeship.
So, is there any value left in a university degree? The data shows that a degree’s value is not inherent – it comes down to what you study and whether the labour market needs what you have.
With a third of graduates working in jobs that don’t require their qualification, 140 applicants competing for every vacancy, and £46,000 of debt taking nearly three decades to repay, the case for a degree demands far more scrutiny than previous generations ever had to give it.
