Are universities worth it? The returns from higher education for graduates and the economy

Read the accompanying report: https://www.kcl.ac.uk/news/doubts-abo...

Doubts about the financial returns from gaining a degree and concerns about too many people now going to university persist in the debate about the future of UK higher education. But in a new paper published by the Policy Institute at King’s College London, Resolution Foundation President and former universities minister David Willetts challenges this pessimistic outlook.

He says that while the graduate premium is lower than it was a decade ago, young graduates still earn £5,000 more annually than non-graduates, and graduates individually do continue to enjoy rises in their earnings year on year – much higher than non-graduates.

At the same time, “more does not mean worse,” he says: higher education participation goes up just about every year in every OECD country. It is a deep-seated economic and cultural trend, and despite the increased numbers going and negative media, research shows young people are far more likely to regret not going to university than going.

The Resolution Foundation and the King’s Policy Institute hosted an in-person and interactive event to discuss the controversial question of the returns from university for graduates, firms and the wider economy, and how we can better assess the long-lasting benefits of higher education. Following a presentation from Lord Willetts, we hear from leading experts including the Rt Hon Baroness Jacqui Smith, the minister responsible for universities in the Department for Education.