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The Strategic Implications of Higher UK Student Tuition Fees for the Talent Pool for Global Businesses Recruiting in the

The Strategic Implications of Higher UK Student Tuition Fees for the Talent Pool for Global Businesses Recruiting in the UK. Julia Buckingham Pro-Rector (Education and Academic Affairs) Imperial College London. Year in industry and/or abroad. Our academic programmes. Under- graduate .

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The Strategic Implications of Higher UK Student Tuition Fees for the Talent Pool for Global Businesses Recruiting in the

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  1. The Strategic Implications of Higher UK Student Tuition Fees for the Talent Pool for Global Businesses Recruiting in the UK Julia Buckingham Pro-Rector (Education and Academic Affairs) Imperial College London

  2. Year in industry and/or abroad Our academic programmes Under- graduate 3 year: BSc; BEng 4 year: MSci; MEng 6 year: MBBS/BSc 4 year: MBBS (graduate entry) Master’s 1 year: MSc, MRes, MPhil, MBA 2 year: MScRes? Personal Development Employment Skills Doctoral 3 year: PhD, EngD, MD(Res) Early Career Workers Research outputs

  3. New Fees Regime for Home and EU students starting university in 2012-13 • The College will charge Home and EU students entering the College in 2012 – 2013 £9,000 per year for all undergraduate courses

  4. Financial support for students starting university in 2012-13. • Increased financial aid and support available to the student from Government: • All Home and EU students qualify for a full fee loan, hence they don’t need to pay for tuition upfront. • Income assessed grants available to Home students from lower income households • All Home students qualify for a loan towards the cost of living • Limited up-front costs to the student, but significant debt owed by the graduate • Interest for loans is based on inflation rate (RPI) plus up to 3% according to income • Payback rate is 9% of income over £21,000 • Any loan remaining will be written off after 30 years

  5. Impact – the debt burden for graduates Unclear what impact higher UG fees will have on PG recruitment Debt carried by students on graduation A student arriving at university with a household income of £60K+ pa could expect to finish a four year course at Imperial with: £56K of government debt & (potentially) £22K of personal debt. A student arriving at university with a household income of less than £25K pa could expect to finish a four year course at Imperial with: £41K of government debt having received £10K in fee waivers from Imperial, a non-repayable maintenance grant of £13K from the government, and a non-repayable maintenance grant of £14K from Imperial. Average total cost of a four-year course at Imperial: £78,000 Net of interest accrued during studies at RPI + 3% while studying.

  6. Undergraduate applications 2010 - 2012 Change between 2011 and 2012 Overall down 0.2% Home down 7% EU down 10% OS up 12%

  7. Year in industry and/or abroad Our academic programmes Under-graduate 3 year: BSc; BEng 4 year: MSci; MEng 6 year: MBBS/BSc 4 year: MBBS (graduate entry) Master’s 1 year: MSc, MRes, MPhil, MBA 2 year: MScRes? Personal Development Employment Skills Doctoral 3 year: PhD, EngD, MD(Res) Early Career Workers Research outputs

  8. Financial Aid: Industry Provision Some examples of current industry financial aid for Imperial students:

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