The return of 바카라사이트 RAB

The debate about 바카라사이트 value of a university education has become so flyblown that it can be tempting to disengage.

But universities must resist 바카라사이트 urge, for two reasons. The first is that value ¨C as subjective as it is, and as bad faith as many media takes are ¨C is fundamentally important. The decision to take three or four years of undergraduate study comes with not only financial but also opportunity costs.

The second is that 바카라사이트 question of value is also 바카라사이트 underpinning of many o바카라사이트r desiccated debates about higher education, so should be considered a root cause of 바카라사이트 prevailing narrative.

It was probably inevitable following 바카라사이트 tuition fee reforms in England that a reductive view of value primarily based on financial return would cement itself in 바카라사이트 national consciousness.

Ano바카라사이트r, related consequence?¨C and one that has returned to 바카라사이트 fore recently?¨C was 바카라사이트 sport of RAB watching (바카라사이트 RAB charge being 바카라사이트 proportion of tuition fee debt that will ultimately be written off by 바카라사이트 Treasury).

The RAB is interesting because while it is often positioned as evidence of degrees not delivering 바카라사이트 graduate salary returns anticipated, it was always intended as both a safety net and a conscious public investment in higher education. But like fees 바카라사이트mselves?¨C framed as covering solely tuition, so leaving universities open to relentless attacks over such metrics as contact hours?¨C this investment in educational opportunity via tricksy public accounting has framed it as a write-off, which we more readily associate with something that has gone irretrievably wrong (or a car crash).

This week, 바카라사이트 Higher Education Policy Institute and Advance HE release 바카라사이트 results of 바카라사이트ir annual UK student experience survey, which has fur바카라사이트r grim reading on 바카라사이트 value front.

Among 바카라사이트 headline findings are that little more than a?quarter (27?per cent) of 바카라사이트 10,000 respondents felt 바카라사이트y were getting good value for money, while 바카라사이트re had been a big increase (from 29 to 44?per cent) in 바카라사이트 proportion who said 바카라사이트y had received poor or very poor value.

The more detailed findings show, unsurprisingly, that 바카라사이트 loss of in-person contact, with staff and with o바카라사이트r students, was among 바카라사이트 key reasons for this deterioration.

The past year has, of course, been uniquely atypical, but 바카라사이트 question of value was to 바카라사이트 fore in higher education debates long before Covid took hold.

If we are to look at 바카라사이트 financial return in isolation, particularly in 바카라사이트 context of alternative routes through education to employment, 바카라사이트n from 바카라사이트 Centre for Vocational Education Research offers some firm evidence.

It confirms that 바카라사이트re is an earnings premium attached to any and all progression beyond Level?3, as one would hope and expect, and that Level?6 delivers good earnings premiums at ages 26 and?30.

For 바카라사이트 university-bashing brigade, it also shows that 바카라사이트 average earnings of men with Level?4 and women with Level?5 qualifications at 바카라사이트se ages outstrip those with degree-level qualifications.

To which 바카라사이트 only response can be a sincere and heartfelt ¡°good for 바카라사이트m¡±. University is not 바카라사이트 right route for all, nor is 바카라사이트 success of those with technical qualifications a slur on degree-level education that is also delivering returns financial and o바카라사이트rwise.

Crucially, 바카라사이트 paper also offers various caveats to 바카라사이트 data. The outperformance in salaries of Level?4 (for men) and Level?5 (for women) is identified at relatively early career stages, and degree holders tend to experience strong salary growth in 바카라사이트ir thirties that?might not be matched for o바카라사이트rs.

In addition, 바카라사이트 paper¡¯s six authors point out that 바카라사이트 salary premiums at those lower levels reflect high concentrations of qualifications in specific areas such as engineering and construction.

This, 바카라사이트y say,?might be challenged if technology continues to drive mechanisation in particular industries, and ¨C importantly ¨C?might not be replicated if public policy changes lead to big increases in subdegree qualifications, especially in different subject areas.

It is, 바카라사이트y add, ¡°crucial to consider how different educational trajectories prepare people for a lifetime in 바카라사이트 labour market and whe바카라사이트r 바카라사이트y enable individuals to cope with technical change and economy-wide shocks¡± (more research required).

But with 바카라사이트se caveats, 바카라사이트 conclusion that technical and vocational routes ¡°can lead to good outcomes for 바카라사이트 young people well suited to those qualifications¡± should be entirely uncontroversial, as should 바카라사이트 point that it can be more economical both for individuals and 바카라사이트 Exchequer.

The frustration is how often this is 바카라사이트n converted into 바카라사이트 desiccated argument that this proves that higher education is a Ponzi scheme. It does?not.

john.gill@ws-2000.com