Degree or degree apprenticeship?
Getting a degree still opens doors, gives you broader career prospects, higher salaries and, in the eyes of many employers, a belief that you are more 'job-ready'. Despite this, students are increasingly concerned that a degree no longer represents good value for money. The Public Attitudes to Higher Education Report 2022, by the UPP Foundation and Higher Education Policy Institute (HEPI), found that 71% agree that cost will deter people from going to university in the next few years.
It's one reason why degree apprenticeships are on the rise. According to government apprenticeship and trainee figures (September 2024), 44,060 apprentices started degree apprenticeships to bachelor (Level 6) and master (Level 7) s in England during 2023/24, a 7% increase on the previous year. Here's how to decide if university or a degree apprenticeship is for you.
UCAS says 40% of students currently registering with UCAS - about 400,000 - are interested in learning more about apprenticeships, and new UCAS analysis indicates this could increase to 500,000 as the 18-year-old population rises. For example, at present, 41% of students interested in medicine would also consider the apprenticeship route.
How do I know university is for me?
University is for you if you want to carry on studying and finish your degree within three or four years before starting work. The downside to choosing a university for many is the cost. It's difficult to give an exact figure, as the price varies depending on the area of study, where you live in the UK and the course duration.
However, research by the National Student Money Service (NSMS) estimates an approximate total cost of £61,000 for students in England for the entire degree. This is based on average tuition costs of £9,250 per year and an average annual cost of living of £11,088. The situation differs for Scottish students, whose tuition is free if they study in their home country. Similarly, Northern Irish students in Northern Ireland pay around half the amount (£4,710 per year) of students in other parts of the UK.
The lifetime cost of getting a degree means students will repay 9% of everything they earn over £25,000. Unless their earnings drop below that threshold, they must keep up repayments until the loan is cleared or 40 years have passed, whichever comes first. Interest will be added to the amount they owe, although having a student loan won't affect a student's credit rating.
The benefits of going to university include not having to work full-time and study at the same time and the chance to connect with people, including students, lecturers, and professionals from different fields
What is a degree apprenticeship?
Degree apprenticeships combine full-time work with part-time undergraduate study. This means students gain a degree and real-world work experience while earning a salary of around £20 - 30k, while the employer pays the university tuition fees. All degree apprenticeships offer a full degree or degree-level qualification and go up to the master's level. They take 3-6 years to complete, depending on the course, and students typically attend university one day a week and work four days for their employers.
More than 80 universities in England currently offer higher and degree apprenticeship courses, covering various job roles, from accounting and advertising to aerospace engineering. Some of the biggest global companies offer these apprenticeships, such as Amazon, Mace, Pfizer, Barclays, Expedia, Google, Goldman Sachs and O2. The degrees and job experience range from software to cyber security, marketing, public relations, business, data science and banking.
The benefits are that you get a degree with no debt and substantial work experience that may put you ahead of the field compared to someone who has studied a similar subject at university.
Is it easy to get on a degree apprenticeship?
Though more degree apprenticeships are being offered, there are fewer places on offer compared to university entrance, which means the application process is very competitive, especially in popular areas such as finance. For instance, JP Morgan's degree apprenticeship programme reportedly accepts less than 1% of applicants.
However, the area is growing. In 2015, just under 1,000 students were enrolled in degree apprenticeships, compared to about 46,800 in 2022.
For many, the downsides of degree apprenticeships are the difficulties of working full-time and studying. You'll be working up to 30 hours a week, and you'll need to study in the evenings and on weekends. Due to this, degree apprenticeships can take three to six years to complete. You'll spend most of your time at work but study one day a week at a university campus or online.
The application process for degree apprenticeships is also different from UCAS as you apply directly to your employer(s) of choice with a CV and a cover letter, which can be time-consuming as, on average, you will need to apply to around 20-degree apprenticeships in Year 13. There are similar entry requirements to get accepted for an apprenticeship degree. For instance, 3 A-levels at AAB and seven GCSEs at grade 6 and above (some ask for higher and others lower grades than this), and you must undergo an interview process.
Ultimately, while both Degree Apprenticeships and University lead to a degree, there are substantial differences between each option. When deciding, it's about finding the path that best aligns with your personal goals.
University offers a broader educational experience, and degree apprenticeships provide practical, on-the-job training alongside academic study. Both ensure you end up with a degree, albeit one with debt and one without.