UK students could save £25,000 with accelerated degrees
Accelerated degrees offer the same qualifications and are quality-assured in the same way as a standard degree, but delivered over a shorter, usually two-year timespan.
This means when most students are completing their third year of study, an accelerated degree student will be starting work and getting a salary.
The proposals include a £5,500 (20 per cent) saving for students in total tuition costs compared to a standard three-year course. When added to the average salary of £19,000 in the first year after graduating, it means a potential £25,000 benefit overall.
For the taxpayer, it means significantly lower tuition loan outlay, higher rates of repayment and therefore a lower cost to the public purse of higher education. A higher proportion of students on accelerated degrees will also repay their loans in full.
Although the proposals allow institutions to charge up to 20 per cent more each year for accelerated degrees, the overall tuition fee cost of the degree to the student is 20 per cent less than the same degree over three years.
Providers already offering accelerated degrees report on more engaged students, positive employer feedback and the opportunity to attract a wider pool of applicants, including mature students who often want to retrain and enter the workplace more quickly.
New fee arrangements for these degrees are set to be in place by September 2019, subject to parliamentary approval. ■