Further will be better

5th December 2003 at 00:00
Many school-leavers would be better off considering further rather than higher education, according to one of the world's largest banks and financial services organisations.

In the latest edition of HSBC's Economic Review Meredydd Davies, economist with the bank, wrote: "There will be a growing number of 18-year-olds for whom the expense of a university education will not be a cost-effective investment."

He foresees a hefty increase in graduate debt from an average of around pound;12,000 to more than pound;30,000 for 2010 graduates.

"Student debt is often regarded as an investment, to be recovered through higher earnings after graduation," Mr Davies said. But he says the Government's assertion that those with an HE qualification earn around 50 per cent more than non-graduates is a "sweeping generalisation" concealing "enormous variation between institutions and subjects".

Log-in as an existing print or digital subscriber

Forgotten your subscriber ID?


To access this content and the full TES archive, subscribe now.

View subscriber offers


Get TES online and delivered to your door – for less than the price of a coffee

Save 33% off the cover price with this great subscription offer. Every copy delivered to your door by first-class post, plus full access to TES online and the TES app for just £1.90 per week.
Subscribers also enjoy a range of fantastic offers and benefits worth over £270:

  • Discounts off TES Institute courses
  • Access over 200,000 articles in the TES online archive
  • Free Tastecard membership worth £79.99
  • Discounts with Zipcar, Buyagift.com, Virgin Wines and other partners
Order your low-cost subscription today