This HEPI blog was kindly authored by Joanna Burton, Head of Policy (Higher Education) at the Russell Group.
Results day is always a momentous day for young people, as they reach the culmination of months of hard work, revision and decision-making. As the class of 2024 celebrates its success and starts planning for the future, the higher education sector is reflecting on how this admissions cycle could finally leave behind the years of pandemic disruption and shifting grade profiles, but also signals fresh challenges ahead.
Media speculation might have had us believe that young people were turning away from choosing university. They certainly have plenty of options available to them: with a greater variety of both degree apprenticeships and traditional degree courses, the promotion of lifelong learning meaning university is no longer a ‘now or never’ choice, and concerns about the high cost of living, it is right that students give careful consideration to their next steps and make the choice that’s right for them.
But it seems that for many, university is still their first choice. More 18-year-olds than ever before applied to start university this year, and a massive 82% of those holding offers had been accepted by their first-choice university on the morning results were published. In England, this cohort defied predictions to gain more top grades than last year, with 27.6% of A levels in England being A or A* – up from 26.5% in 2023 and 25.4% in 2019. Given it was Ofqual’s aim to return to pre-pandemic grade profiles, we should congratulate students on an impressive performance.
With the rise in the cost of living, there has been a concern that growing financial pressures would see students from poorer backgrounds abandoning university ambitions. It is promising to see that, in England at least, this doesn’t seem to be playing out in the admissions data. Whether you look at POLAR4, IMD, or Free School Meal eligibility, all UCAS data shows that record numbers of students from the most disadvantaged backgrounds in England now have a place at university. This is hugely encouraging, as we know the transformative impact of university, especially for those who had the hardest start. University graduates not only gain additional skills and experiences, but enjoy a significant boost to career prospects and earnings throughout their working life. In defiance of recent negative media rhetoric about the value of university, a survey by the King’s Policy Institute found that 90% of graduates would do a degree again, if given the chance.
However, with record numbers of students from disadvantaged backgrounds in England and Scotland going to university (although it’s important to note this isn’t the case in every nation of the UK), it’s crucial that financial pressures don’t become a barrier during the course. Amid frozen maintenance loans and increasing costs, students who need to supplement their income with paid employment are spending more and more time in work – an average of almost 16 hours a week, according to HEPI and Advance HE’s 2024 Student Academic Experience Survey – and 11% of students who considered dropping out of university last year were motivated by financial concerns.
The new government is right to highlight the need to create opportunity for all, and expanding pathways to university is a vital part of this. Russell Group universities, along with many others in the sector, are working hard in partnership with schools and colleges to help tackle educational and regional inequalities. But it’s no good helping these students into university and then leaving them to fend for themselves in challenging circumstances. Russell Group universities already spend tens of millions collectively each year to mitigate financial hardship, but this needs to be backed by an enhanced package of government support: namely, increased maintenance loans, the re-introduction of maintenance grants, and a review of the parental earnings thresholds that determine means-tested loans.
The financial health of universities themselves also has an impact on student experience. It’s no secret that shortfalls are growing and institutions’ budgets are being squeezed, with difficult choices on the horizon. But despite the challenges, students are still choosing university in huge numbers because of the experiences and benefits it offers. To continue to meet this demand, universities need to be able to manage their finances in a fiscal environment that supports long-term stability.
Worsening economic challenges will inevitably pose a threat to the quality and choice that the sector can offer to students, with the risk of cold spots opening up in subject provision in some areas of the country. Regional inequalities at school level were the major concern of this year’s exam cycle, and a reduced choice at university will only exacerbate the problem – potentially undermining the work that universities across the sector have been doing to expand, not remove, opportunity.
As the dust settles on results day, now is the time to address the challenges ahead. Demand for higher education isn’t showing the signs of decline that some expected, so a key priority for the new government will be considering how to safeguard opportunities for students now and in the future against a difficult fiscal backdrop.