31st January 2013 9:00
By Blue Tutors
For the second year running, the number of university applications has fallen according to statistics published by the Universities and Colleges Admissions Services (UCAS). It is thought that the increased tuition fees allowed in recent government legislation are the key factor behind this reduction. Universities can now charge their students up to £9,000 per year as opposed to the previous cap at £3,000.
Those students starting their studies at university in September 2012 were the first faced with the increased fees. Unsurprisingly, applications for the 2012-13 academic year decreased significantly from 2011 which was almost certainly due to the fact that tuition had trebled in cost. Although it was hoped that the number of applications would increase again from the 2013-14 intake, it would appear that they have fallen by a further 6.3%.
In Northern Ireland, the number of prospective students that submitted their applications by December 2012 had increased by 0.5% on 2011. However, the university fees in Northern Ireland are capped at £3,575 which could explain such a rise.
Just as before 2012, students at English universities can receive loans for their fees from the government. However, they now do not have to begin repayment of the money loaned until they are earning £21,000 a year. For those who attended university before 2012, students must start paying back their loan when they are earning £15,000 a year. The saturated graduate job market has prevented many university alumni from beginning any repayments.
Although the chief executive of Universities UK, Nicola Dandridge, has encouraged students not to be put off applying to university due to financial anxieties, it is evident that for many students those fears are all too real. Not only do they have the prospect of paying £9,000 for tuition but also living costs and other educational expenditure which can all accrue to thousands of pounds of debt.