University tuition fees, higher education participation rates, UK, College Wage Premium, CWP, Walker, Zhu
During the 1992-2007 period, the UK has witnessed great variances in the structure of Higher Education (HE) funding. Moving away from a period where taxpayers footed the entire costs incurred by HE, economic agents holding at least 2 A-levels have begun to contribute to their future HE prospects. From this, we can investigate whether increasing the financial burden placed upon potential students by increasing tuition fees, will portray a decline in participation rates for the UK.
[...] While contemplating the costs of education and their inherent impatience (i.e. the idea of starting to earn a salary instead of getting into debt via student loans and the interest payable on them), individuals need to take into account the other, harder-to-quantify, non-monetary benefits from HE. These predominately include non-economic benefits such as social status and life skills, alongside that of lower unexpected unemployment rates. In spite of the predicted conclusions drawn from our model, Walker and Zhu (2008) reported the greatest expansion in young individuals progressing onto HE arose from the mid-1990s+ with increases of 15% and 19% for men and women respectively (as seen in Figure where the newly elected Labour government first introduced tuition fees of £1,000PA Student ID: 1424533 Figure 2 Source: Walker and Zhu (2008, p.698) Although 2005 saw further increases in figures with approximately 40% of men and almost 50% of women attending HE, 2011/12 policy reforms provoked adverse effects on these figures. [...]
[...] 695–709. [...]
[...] Whilst it is apparent that applications for both genders are increasing, alongside tuition fees, our model predications remain sceptical. Furthermore, CWP is only an estimation based on past figures and so the factor of uncertainty is prominent within our investigation. Whilst we assume economic agents have perfect foresight about the future costs of participating in HE (which in reality is false), the largest uncertainty lies on the CWP. It is almost impossible to assess what lies ahead after obtaining HE and so decisions using expectations of future costs and benefits (of obtaining HE) should be made. [...]
[...] Available at: http://www.theguardian.com/news/datablog/2013/jan/30/universityapplications-subjects-age-gender-country (Accessed: 16 November 2015). UCAS (2015) June Deadline Analysis: Subjects. Available at: https://www.ucas.com/sites/default/files/subjects_mr_june_150630_0.pdf (Accessed: 16 November 2015). UCAS (2015) 2015 cycle applicant figures - January deadline 2015. Available at: https://www.ucas.com/sites/default/files/insts_mr_january_150115.pdf (Accessed: 16 November 2015). Vasagar, J. (2014) Tuition fees increase led to fewer applicants. Available at: http://www.theguardian.com/education/2012/aug/09/tuition-fees-increase-15000-lessapplicants (Accessed: 16 November 2015). Walker, I. and Zhu, Y. (2008) college wage premium and the expansion of higher education in the UK', The Scandinavian Journal of Economics, 110(4), pp. [...]
[...] Available at: http://www.theguardian.com/education/2014/jan/31/university-applications-record-highucas (Accessed: 16 November 2015). Ashworth-Hayes, S. and Sippitt, A. (2015) Have the government's tuition fee reforms worked?. Available at: https://fullfact.org/education/have_the_tuition_fees_reforms_worked-37059 (Accessed: 16 November 2015). Bolton, P. (2015) ‘Tuition Fee Statistics', House of Commons Library, pp. 3–18. Coughlan, S. (2015) Did fees cut applications?. Available at: 9 Student ID: 1424533 http://www.bbc.co.uk/news/education-30684462 (Accessed: 16 November 2015). [...]
using our reader.