Today’s blog looks at research conducted by the Institute of Fiscal Studies and the Department for Education looking at the lifetime returns of a UK degree.
On Saturday 29 February the Institute of Fiscal Studies (IFS) published research commissioned by the Department for Education, showing the lifetime returns of undergraduate degrees.
The research is designed to help students make informed decisions about their future, by providing information about the likely earnings over their lifetime from different subjects, compared with not going to university.
The data found that for around 80% of graduates, a degree from a UK university will have a positive effect on what they earn, even allowing for student loans and taxes. Indeed, research showed that a degree is likely to increase a person’s net earnings by £100k or more on average over their lifetime.
The data, broken down into the returns seen from each subject, can be found here, and was covered by a variety of outlets including the Daily Express, Independent, Guardian, Telegraph, Daily Mail, FT, Times, BBC Online and the Sun.
Universities Minister Michelle Donelan said:
This research underlines that our university sector is world leading by setting out the impact higher education can have on someone’s life.
When you add the unquantifiable experiences and friendships that come with that, it is no surprise our universities attract students from all over the world.
However, that prestige is built on quality and my role is to work with the regulator to safeguard that, while ensuring students and the taxpayer are getting the value they would expect for their investment.