Just 16 per cent of law students believe a university education is invaluable and justifies the £9,000 annual cost of tuition fees.
The majority of Lawyer2B readers who voted in our online poll – 58 per cent – do not believe a university education is worth the increased fee and agree that £9,000 is ‘a ridiculous sum of money’, while just over a quarter believe that tuition fees are simply ‘a fact of life’.
The results contrast with the results of a YouGov survey that found that 40 per cent of students thought university education was still worth £9,000 per year.
The YouGov report also found that UK undergraduates and postgraduates currently studying at UK universities owe £20bn. The vast majority is owed to the state-owned Student Loans Company with 15 per cent of debt owed to family, friends or commercial lenders. Most students think that attending university is vital for their careers.
Just under three-quarters – 72 per cent – of students have a student loan and 40 per cent receive maintenance grants. Nearly half of students receive money from their parents, with the average amount totalling £64 per week. Almost one third have a part time job, with the average wage coming in at £91 per week and the average number of hours worked sitting at 11.
Students are also spending more than they are earning. The average student income is £9,708 (including tuition fee loans) but overspending amounts to £726 per student each year. The current intake of first-year undergraduates is the first to pay £9,000 tuition fees; other undergraduate years are paying £3,000.
Students are spending one third less on alcohol than one year ago (15 February 2013).