New proposals for two-year accelerated degrees could leave students over £25,000 better off.
Students could be left over £25,000 better off by choosing an accelerated degree instead of a traditional three-year course, according to proposals set out today in a new government consultation.
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, announced yesterday (10 Dec), 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.
Universities Minister Jo Johnson said:
For too long we have been stuck with a system that has increasingly focused on offering only one way of benefiting from higher education, via the classic three year degree programme.
The passage of the Higher Education and Research Act this year has finally enabled us to break the mould of this one-size-fits-all system so students have much more choice over how they learn.
Many will want to stick with the classic three year university experience, but for highly motivated students hungry for a faster pace of learning and a quicker route into or back into work, at lower overall cost, two year degrees will be well worth considering.
Professor Les Ebdon, Director of Fair Access to Higher Education, said.
Accelerated degrees are an attractive option for mature students who have missed out on the chance to go to university as a young person. Having often battled disadvantage, these students can thrive in higher education and I hope that now many more will be able to take up the life-changing opportunity to get a degree.
There has been historic cross-party support for this policy, from Shirley Williams in the 1960s, to Labour spokesman Lord Stevenson, Roberta Blackman-Woods, Lord Liddle and Lord Watson who all supported it in the passage of the Higher Education and Research Bill.
There are a range of accelerated courses currently on offer – including Law, Accountancy and English – but the ambition is make more courses available across the widest possible range of subjects.
Karl McCormack, who teaches accelerated degrees in Accounting & Finance at Staffordshire University, commented on the increased focus of students on accelerated courses.
I find that the accelerated degree offers so much more to students, including the extra focus, the drive and the immersive experience of constantly learning over the two years.
Accelerated degrees appeal to a broad spectrum of students, including mature students who want to retrain and enter the workplace more quickly, and those who do not take a traditional A-level route into higher education.
Laura Montague, a student in her final year of an accelerated degree at Staffordshire University, said:
The fast-track course is exactly the right option for me. Being able to do the course in a two-year timeframe instead of three really makes you dive into the course knowing that completion is not far off. It also prepares you well in terms of how the working environment will be when you finish.
Nick Hillman, Director of HEPI, said:
Making two-year degrees more attractive makes sense as the current rules aren’t great and more diversity is generally good in higher education – so long as quality is maintained. So the overall idea of altering the financial rules for two-year degrees is sound or even overdue.
Alistair Jarvis, chief executive of Universities UK, said:
Several universities have been offering two-year, fast-track degrees for a number of years, but demand has been limited under the current system. But if these proposals help encourage even more flexible modes of study, and meet the needs of a diverse range of students and employers, it is to be welcomed.
The priority is ensuring that each student is given good advice and information so that they can choose the course and university that is right for them. While the three-year undergraduate degree on campus will remain the preferred option for many students, accelerated degrees could also meet the needs of many students and their families.
Providers offering accelerated degrees will need to meet exactly the same quality assurance measures as for the standard three-year equivalent degrees.
The new regulator, the Office for Students, will also support the provision of accelerated degrees when it becomes a legal entity in 2018.
DfE are seeking views on a range of proposals to encourage increased provision and uptake of accelerated degree courses in England.
Analysis of the economic impact of proposals set out in the consultation on accelerated degree courses.
This consultation is being held here, and ends at
This document considers the effect of the proposed changes in the consultation on accelerated degrees (above).
These measures include increasing the annual fee and fee loan cap for 2-year accelerated degrees.
The analysis considers the impact on the following main affected groups:
- higher education providers
- taxpayers and the government