When you achieve your Degree at Selby College, the award will still be via the University's Awarding Body, the difference is you have not had all the cost of living expenses or travelling somewhere else to gain the same award. University graduates earn on average about a quarter more than people who leave school after their 'A' Levels, a study has suggested.
Higher Education organisation Universities UK measured the economic impact of getting a Degree. It found average additional earnings of £160,000 over a working life.
But there are wide variations -with arts graduates only gaining a tenth of the additional earnings received from a Medicine Degree. The research carried out by PricewaterhouseCoopers, shows that Higher Education courses bring significant benefits to people when they enter the labour market. Earnings Boost The report concludes that "there is no evidence of an erosion of the graduate premium despite increasing numbers of graduates" - as the UK demand from employers for graduates has also continued to increase. But there are considerable differences in the extent to which individual graduates benefit.
Women gain more financial advantage than men from getting a Degree. And men from poorer backgrounds increase their earnings more than men from affluent homes.
Degrees such as Medicine, Law, Sciences and Languages deliver higher returns than Arts and Humanities. While the graduate premium in earnings for a Medicine Degree is £340,315, an Arts graduate can expect to receive only an additional £34,494, over a working lifetime. Degree Earnings Premium
Source - Universities UK/ PricewaterhouseCoopers, 2007 The Universities UK report also says that graduates are less likely to be unemployed.
These comparisons are with students entering the workplace with A Levels -rather than those leaving after GCSEs. And in practice a large majority of students who stay in education beyond the age of 16 continue into education.
Higher Education Minister Bill Rammell said the report "confirms what we have been saying for some time now - that graduates, on average, earn more and are more likely to be in a job than those without Degrees, and that Higher Education is likely to be the best investment a student will ever make."
(Article Source -BBC News - Graduates Earnings Stay Ahead - 07/02/07)
Tel: 01757 211040 | email: info@selby.ac.uk
If you are studying full-time you may be eligible for:
Student loans are to help with tuition fees and living costs.
You can take out two student loans per academic year. These are:
Student loans have to be repaid but you don't have to start making repayments until you are earning over £15,000
You may also be eligible for a Maintenance Grant or a Special Support Grant - up to £2,906 in 2010/11 depending on your household income. This does not have to be repaid.
You may also be able to apply for a bursary from your university or college
If you have a disability, mental-health condition or specific learning difficulty and are studying at a rate equal to at least 50% of the equivalent full-time course, you may be able to get Disabled Students' Allowances (DSA).
To apply and for more information about the types of financial support available visit the Directgov website or call 0800 731 9133. Alternatively you can speak to Selby College direct by contacting Student Services Tel: 01757 211040 or email: info@selby.ac.uk
If you are studying a part-time higher education course, you may be eligible to receive a non-repayable Fee Grant and Course Grant.
The Fee Grant can help pay for your tuition fees. The Course Grant can help pay for other study costs such as books, materials and travel.
Universities or colleges decide how much the tuition fees are for part-time courses. If you receive a Fee Grant that does not cover the fees charged, you may be able to get extra money from your college/university through the Additional Fee Support Scheme. Part-time students may also be able to get help from the Access to Learning Fund.
Whether you qualify will depend on where you live, personal eligibility and the type of course you are studying.
To apply for the grants part-time courses must:
You won't qualify for the Fee or Course Grant:
Fee Grants up to £1,230 are available (2010/11) depending on circumstances and will be paid directly to your college/ university.
Course Grants up to £265 are available depending on your household income.
You can find more information about the Fee and Course Grants in the booklet A guide to financial support for Part-time students in Higher Education.
Please Note: All part-time students have to apply for the Fee and Course Grant for every year of the course.