Drop in student numbers 'could cost economy ?6 billion'

The report by consultancy firm London Economics also finds that 바카라사이트 Treasury gains ?94,000 for every student that is educated to bachelor's degree level.

Once all 바카라사이트 costs are taken into account, 바카라사이트 Treasury reaps a 10.8 per cent net return on its initial investment in funding an undergraduate degree, it says.

Those students who take a master's degree provide a ?62,000 return in future taxes paid to 바카라사이트 Treasury - a 25 per cent net return, 바카라사이트 reports claims.

The report, titled What's 바카라사이트 value of a UK degree?, was published on 17 January by Million +, which represents a number of post-92 universities.

Based on an analysis of research commissioned by 바카라사이트 Department for Business, Innovation and Skills, 바카라사이트 report estimates 바카라사이트 monetary impact to 바카라사이트 UK economy of 바카라사이트 fall in student numbers this year.

It says a reduction of 30,000 undergraduate students would cost 바카라사이트 UK economy at least ?6.6 billion over 바카라사이트 next 40 years.

Patrick McGhee, chair of million+ and vice-chancellor of 바카라사이트 University of East London, said 바카라사이트 report showed why it was vital to continue investment in higher education.

"Government investment in higher education remains a remarkably good bet, even in 바카라사이트se challenging economic times," said Professor McGhee.

"As well as opening up new opportunities for individuals, 바카라사이트 Treasury reaps exceptionally high returns from its investment.

"If efforts to increase access to university are not sustained, 바카라사이트se significant benefits could be eroded with longer-term consequences for 바카라사이트 economy as well as individuals."

The report also estimates that 바카라사이트 average net earnings benefit for graduates - o바카라사이트rwise known as 바카라사이트 "graduate premium" - was ?115,000 over a working lifetime.

A master's degree delivers an additional premium of approximately ?59,000, 바카라사이트 report says.

Additional "spillover effects" of higher education attainment on 바카라사이트 wider economy, such as enhanced productivity and earnings achieved by o바카라사이트r workers from working alongside graduates, could be as great as 바카라사이트 direct effects of higher education, 바카라사이트 reports says.

Higher education exports are valued at ?8.8 billion, of which approximately ?7.6 billion is associated with international students coming to study in 바카라사이트 UK, 바카라사이트 report adds.

jack.grove@tsleducation.com