Should University fees reflect Vocational Utility?

The fees hike imposed by the Tory government in their first year in power has been one of the most controversial reflections of the failings in the UK democratic system. Turning their back on pre election pledges the Liberal Democrats sold off a huge amount of their voter base, and are unlikely to perform well in the forthcoming election. But how do fees impact ordinary people? Both through the tax money afforded to the exchequer and the huge debt placed upon individuals, Cameron's neoliberal philosophy for further education is proving to be wrong in so many ways.

The restructuring of the student loan system and fee repayment was intended as part of Cameron's austerity measures to 'cut the deficit' and balance the books, however the huge debt placed on those taking less prestigious courses has ultimately not been repayed to the exchequer and as such the government lose out on more than under the previous system. Since implementation
of the new system the percentage of loan money written off due to non payment has risen by over 20%. More than half of the monies loaned is not being collected due to the lack of real value gained by many courses, as graduates fail to earn enough to repay based on the lending agreement.

So what is the solution? Vocational utility with regards to degree courses offer an alternative which tailors the education system more successfully to the job market. It is a simple projection to say that much of the money lost by the exchequer in write offs is lost from less prestigious courses which do not have adequate vocational utility. For instance, computer science related courses had a 10% unemployment rate in the last statistics released, based on this estimation, the courses which have a clear low employment rate and graduate earning potential could be charged more in tuition, in order to dissuade people from taking on these courses: whereas courses such as law and education, which have a very high employment rate, could be charged less in fees.

This would push exceptional students into courses which benefit the jobs market as we have exceptional people in competitive arenas. It would also serve to weaken the philosophy introduced by New Labour that University is the best option for the majority of students. Many courses introduced in the last 15 years do not reflect value in the jobs market particularly with the need for tuition induced debt. A tuition system better tailored to the changing job market in the UK would offer high performers a better deal, intelligent students who make good decisions about future markets better vocational utility and would make those who University may not be the best option for look more at other options. We need a system which educates people that University is an option amongst many, not the option over all others.

Do you agree? Leave your comments below.