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A Useful Degree of Debt?

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In 2012 Steve Hall noted that “more than 100,000 of young unemployed people have degrees” (Hall 2012:62). Five years on there is little to suggest that this frightening situation has improved. Worse still, due to changes in the financial organisation of the university sector, the next cohort of undergraduate students could be expected to pay over £9,000 a year in tuition fees. The current situation often throws up a very important question: ‘Is having a degree actually worth the accumulation of all that debt?’ Like everything in social science, the answer is by no means a straightforward one; there are a number of things that need to be considered. Firstly, oversaturation is a crucial factor. With more and more people finding their way to university, perhaps in part because of increased societal pressure and limited employment opportunities, it has been suggested that an undergraduate degree has simply become the ‘next A level’. Something to do after college that does not mean ‘signing on’ or accepting the most tenuous scraps of unsuitable work for minimum wage.

Alongside this potential relegation of the undergraduate degree, the reality of almost relentless pressure sustained over a three year period needs to be considered. Whilst all universities across the country enrol scores of interested students, many of these institutions also attract those simply, and understandably, looking for something to do. Students are often not prepared for the amount of work that obtaining a degree requires. Indeed, many lecturers can relate to Fisher’s (2009) recollection of students protesting about being asked to read for more than a few sentences, or that anything that intends to remove students from the sensations of texting, Facebook or Snap Chat often gets chastised as constituting the boring denial of something more immediately gratifying. The reality is that students who simply ‘find’ themselves at university often struggle to realise their potential or avail themselves of the opportunity.

Nevertheless, the experience can be immensely rewarding and the achievement of a degree may serve to reveal occupational avenues that might not otherwise have been considered possible. Studying for a degree at university not only allows you to acquire a unique knowledge base and skill set but provides the space for ideas and concepts to be approached in novel ways, perspectives to be changed and horizons broadened. Ultimately a degree can be a worthwhile endeavour if maximum effort is put into achieving the best degree one is capable of. Sadly, that is certainly not to say that it will provide an infallible passport to a future of financial stability. That permit may only be granted in a more equitable society, one that can only be brought about by the radical transformation of existing social, economic and political arrangements.

Justin Kotzé, April 2017

References

Hall, S. (2012) Theorizing Crime and Deviance: A New Perspective. London: Sage Publications Ltd.

Fisher, M. (2009) Capitalist Realism: Is There no Alternative? Winchester: Zero Books.

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