Iona Bain on the education shift

The Open University (the OU) has commissioned a new survey of 18–19-year-olds in England which shows that nearly 1 in 2 (49%) have reconsidered going to university in the last year, because of the rising cost of living. Nearly a third (31%) of school leavers believe university is not affordable, while a fifth (20%) are still unsure if they will go to university this autumn.

To avoid the huge costs associated with going to traditional universities, nearly three quarters of school leavers (71%) would consider distance learning as a viable alternative, with just under 2 in 5 (39%) now wanting to have the ability to earn while they learn. A further 29%, are seeking a better balance between their education and other life commitments. Nearly a quarter (23%) want to live at home, rather than moving away to university.

Considering these concerns, findings published today by the Cebr reveal that OU students in England could save up to £6,555 a year and would accumulate less debt when compared to students at traditional brick universities.

Aston spoke to finance expert Iona Bain.

Photo by Colin Watts on Unsplash