institutions adopt a different model. In many cases faculty members are researchers, but this activity is not financed through student fees.


Accelerated Degree Programmes Another way of reducing the cost of an undergraduate degree is by undertaking an accelerated programme. Traditional degrees involve study for no more than 30 weeks and in some cases students only attend for 22 weeks. An accelerated programme involves the same modules and the same achievement, but students attend for three terms each year, rather than two. The fees are therefore lower and in many cases can total less than £15,000. Students are also able to start earning a salary sooner and don’t miss out on as much potential earnings. While these two-year programmes are more intensive, they do still allow breaks, making them a manageable option for many students.


There are also additional academic benefits to choosing this option. Many students have found that without long breaks between terms, information acquired is less likely to be forgotten and study skills are more easily maintained, often resulting in better final marks. This option is a particularly good fit for those who are keen to minimise the time spent in study, whilst maximising their career prospects with a good degree.


Living at home


Living at home while attending university can also help to reduce costs. Average student rents in London are approximately £150 a week and the government estimates that a student in London requires £104 per week for living


expenses. When looking to cut costs, students should consider institutions that are close to home and require an inexpensive commute to campus.


Focus on employability Finally, it is important for students to remember that a degree is an investment in their own skills and knowledge, but that investment will only ‘pay off’ if they are rewarded for their hard work by obtaining a good job following graduation. In the current economic climate, graduate positions are difficult to come by, particularly for those that have not been appropriately equipped during the course of their degree with the skills employers are currently seeking. As a result, when choosing a HE institution, students should make sure their investment will yield returns by looking for institutions that emphasise the employability of their students. Lecturers with industry experience will know what employers are looking for and will make sure their students are equipped with the skills they need to be successful after graduation.


Every prospective student can afford higher education; student loans are available and grants are given to those with low family incomes. However, if students are to maximise the balance between costs and benefits, they need to take time to sift through and understand the many options available to them as well as research the institutions they are considering. This will ensure that the investment they are going to make will pay dividends far into the future.


Professor Alison Wride Before joining Greenwich School of Management as Principal in September 2012, Professor Alison Wride served as Head of the College of Business, Economics and Law at Swansea University. Prior to that, she was Deputy Director of the University of Exeter Business School, where she led on initiatives that transformed the student experience. A National Teaching Fellow and an expert on the economics of social policy, she is a co-author of the UK’s best-selling undergraduate economics textbook, Economics.


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