As tuition fees for higher education keeps on rising constantly, do you think going to college is still a good idea? Is it worth to earn a business degree by getting burdened by crippling student debt? I don’t think so.
Most of the students that I have met through my work are now opting for online education over traditional courses. Although most traditional colleges have a long standing reputation for providing quality education, but now online programmes have also caught up and are offering world class business diplomas. Pursuing an online business management diploma is a sure shot way of earning an accredited qualification without getting burdened by student loans. Here’s why….
Student Debts- A growing concern
In the past few years rising student debts have become a serious problem for many countries, especially the United States. Currently England is also struggling to deal with the rising cost of college and growing student debt. According to a report by The Telegraph, a recent study, conducted by the educational charity The Sutton Trust, found that most students will be paying back their college tuition fee debts even when they will be in their fifties. Moreover, many more students will not be able to repay the loans at all. This is surely a serious cause for concern which you can easily avoid by going for an online management diploma instead of a college degree.
Dealing with maximised tuition fees
In 2012, tuition fee in colleges were maximised in England at £9,000. As per The Telegraph, this amount is thrice earlier cap of £3,000. Usually you will not be able to start making payments on your debts until you complete your graduation. You will be able to earn at least £21,000 per year; whereas the income cap was around £15,795 in the year 2012. Moreover, student debts generally become invalid after almost 30 years; while under the old system loans were usually written off after 25 years.
Katherine Sellgren of BBC News wrote “We estimate that 73% will have some debt written off at the end of the repayment period, compared with 32% under the old system. The average amount written off will be substantial – about £30,000.”
As higher education becomes more challenging and increasingly costly, can your degree give you good value for money?
For some going to college might still make sense. But for most of us bearing the financial load of a college degree is just too much. According to a survey by the Higher Education Academy (HEA) and the Higher Education Policy Institute (HEPI), more than a third of the 15,000 students surveyed in UK believe that £9000 tuition fees per year is not justified. Moreover, around 48 per cent of the UK students said “reducing fee levels” was among their top 3 priorities for academic expenditure. (Source:http://bit.ly/1qmGDy0)
University Minister, David Willetts believes that Universities need to amp up their offerings as online institutes are doing as good a job as them. He said, “The days where the academic experience is simply sitting in rows with 200 other people taking notes from slides on a screen that you can access online on your laptop, universities now have to do far better than that.”
So what is the best option for you now?
As I mentioned earlier, going for online programmes is your best bet. If you want to study business, then an online business diploma can help you to gain essential knowledge and skills without emptying your bank account. Due to the growing demands for online programmes, many renowned UK universities have now started to offer their programmes online as well. So you can be rest assured about the quality of education as these programmes are developed by the in-house faculty and use the same content used in on-campus programmes.
You cannot deny that online business management diploma programmes have a number of economic, professional and academic benefits. This is the reason why innumerable learners and professionals from across the globe are now getting enrolled for online courses. Furthermore, as online qualifications are now being valued by prominent employers, you can easily advance your career.
What do you think?
Online diplomas clearly offer you several benefits that will help you in your professional as well as personal development. Do you still think on-campus programmes are better even with high tuition fees? Or are you already an online learner? Feel free to add to the discussion by sharing your views and opinions below.