UCAS projects that by the end of the decade, we could see up to a million students apply for higher education. But while universities may be flush with applicants, not all is rosy. The level of financial pressure on the sector is increasing, with double-digit inflation squeezing budgets.
We work with hundreds of universities around the globe and we know remaining commercially viable is a talking point in the UK. The undergraduate fee cap in England for example, has barely risen since 2012 – had the fees kept up with inflation, they’d be over £12,000 for this academic year, well above today’s capped £9,250.
And demand has grown, universities are facing some of their biggest challenges around student retention. While HESA is yet to publish the latest data around non-continuation rates, anecdotally, a range of research suggests the increasing cost of living is seeing students increasingly consider dropping out of university.
Students are looking for high teaching standards, but not only. The cohorts coming into higher education today are digital natives using platforms like Google, Netflix and Apple Pay to effortlessly integrate into their lives. There are increasing expectations for the wider student experience to be as good as the academic one. Cue the demand for exemplary services and a focus on student wellbeing.
