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Just this week, The BBC reported that university tuition fees in England will increase every year in line with inflation from 2026.

Education Secretary Bridget Phillipson said that the increase will be guaranteed for the next 2 years, and new legislation will allow it to continue increasing annually from there. Alongside the rise in fees, maintenance loans will also go up.

As part of this, she also said that only universities that provide ‘strong outcomes for students’ will be allowed to charge the maximum fees, with the quality assessed by an external regulator.

In the current academic year, tuition fees are already at a huge 拢9,535 per year. According to the BBC, if inflation stays in line with where it is now, next year’s fees could be over 拢9,900.

The problem? Students studying regular degrees are leaving universities with a huge amount of debt. Those taking on loans to pay their fees at the current rate already come out with nearly 拢30,000 of debt for their 3 years of study. And with the loan interest rate following the Retail Price Index, some students saw a whopping 8% interest on their loan in August 2024.

If the government doesn’t get inflation under control, others could be stuck with loans compounding much faster than they can pay them off.

 

The Student Debt Problem

 

Whilst student debt in the UK lags behind other countries like the US, it still puts young people on the back foot as they start earning money.

Repayments have to be made once people start earning over 拢26,065 per year for Plan 1 loans, 拢28,470 for Plan 2 loans, 拢32,745 for Plan 3 loans or 拢25,000 for Plan 5 loans.

The repayment amount is 9% of income above that threshold, which is an extra tax that a lot of young people have to contend with alongside already high taxes and a cost of living crisis.

According to the SLC, graduates in England leave university with average debts of 拢44,940. However, this can quickly compound, especially if they are not paying them off for a few years.

In fact, data obtained by BBC news in March last year found that highest outstanding student debt in the UK is more than 拢230,000!

 

Is University Still Worth It?

 

And with university becoming so expensive, the question that many young people are asking is: is it worth it anymore?

Whilst a degree from a top university used to be a way into some of the country’s top companies, we were interested to hear from businesses about how important degrees are for them when it comes to hiring, and the results were interesting.

Here’s what they had to say…

 

 

Our Experts

 

• Oscar Asly, Group CEO of M4Markets
• Lewis Crompton, CEO of Star Trading
• Sarah Fleming, Spokesperson for NerdWallet UK
• Arnav Bhushan, Business Head at Hirexa Solutions
• Rebecca Sutherland, Investor and Founder of HarbarSix Ltd
• Amy Lawrence, Deputy Managing Director at GingerMay
• Wouter Durville, CEO and Co-Founder of TestGorilla
• Alexia Pedersen, SVP International at O鈥橰eilly
• Erin Gajdalo, CEO at Pluralsight
• Pablo Jim茅nez de Parga Ramos, Co-founder at Throxy
• Khyati Sundaram, CEO at Applied

 

For any questions, comments or features,聽please contact us directly.

 

Oscar Asly, Group CEO of M4Markets

 

 

“It really depends on the role and the kind of impact the position requires. In some technical or highly regulated areas, a degree still holds value. But for most roles today, especially in fast moving industries like fintech, what truly matters is what a person can do, not just what is written on a certificate.

Proof of work, results, initiative, and the ability to learn fast say much more about a person鈥檚 potential than any diploma. During interviews, we focus on how candidates think, how they approach challenges, and what drives them to improve. The world is moving too quickly for businesses to rely on old filters. Companies need problem solvers, not paper qualifications.

At M4Markets, we look for curiosity, drive, and resilience. We make a point of giving people from different backgrounds a fair chance because we believe talent and attitude often outshine credentials.”

 

Lewis Crompton CEO of Star Trading

 

 

“As an employer, unless I am hiring for a skilled job that requires a degree, I am uninterested in a persons qualification and far more interested in the qualities of the individual I am employing. Did university give us much other than debt? Potentially some friends and 鈥渕emories鈥�, maybe? Did it prepare you for the world of work or give you skills you couldn鈥檛 have got through working experience? The answer for the vast majority is no, it did not.

“That is why true lived experience will out perform a degree. A good attitude, willingness to learn and eagerness to work plus a passion for the companies values and mission are far more vital than a piece of paper. What is becoming essential, but harder to find as a new generation enters the work force is people willing to work hard, without expecting everything in return instantly. Paying your dues and doing what you don鈥檛 enjoy to get to what you do enjoy is part of the working process and creates a more well-rounded, capable, experienced workforce.

“I would prefer to hire someone showing passion and willingness to learn and work hard than someone with the right qualifications who in entitled.”

 

Sarah Fleming, Spokesperson for NerdWallet UK

 

 

鈥淭he simple truth is that many businesses, particularly in the innovative Tech and Digital sectors, are moving aggressively toward skills-based hiring. They realise that a four-year degree doesn鈥檛 always translate into the specific, current skills needed for a job.

鈥淒emonstrable competence, whether acquired through bootcamps, apprenticeships, or online certifications, is becoming a far more valued currency than a piece of paper. This is a positive financial development, as it creates debt-free pathways into well-paid careers. Whilst there are still jobs which list degrees as essential on job applications, many hiring managers will still consider applicants with practical experience.

鈥淗owever, for established, regulated fields like accounting, law or engineering, the degree remains a mandatory barrier to entry because of licensing and regulatory requirements. Many hiring managers still view a degree as proof of valuable 鈥渟oft skills鈥�, things like persistence, critical thinking and the ability to complete a multi-year project.

鈥淭he best course of action for a student today is to approach university with a keen eye on the return on investment. If the degree is not a prerequisite for their chosen field, they should seriously explore faster, cheaper and more job-focused alternatives. Degree apprenticeships, in particular, can offer the best of both worlds – combining academic learning with a direct route into employment. The financial burden of a degree must be justified by the career path it unlocks.鈥�

 

For any questions, comments or features,聽please contact us directly.

 

Arnav Bhushan, Business Head at Hirexa Solutions

 

 

鈥淭here has been a massive shift in hiring processes over the years. Hirings have become more skill based rather than degrees.

“Most of the organisations vet candidates based on aptitude, behavioural and technical skills besides degree as an entry criterion that too is diminishing. Nearly half of UK employers today think that degree isn鈥檛 important for hiring while the US is already seeing a decline in formal education and the job postings requiring a degree has fell to 17% recently.

鈥淪o, on the broader note, no, degree isn’t a major criterion for most of the hirings. However, a degree becomes a key criterion in regulated professions like medical, law and academia where it鈥檚 required by law to maintain professional standards.”

 

Rebecca Sutherland, Investor and Founder of HarbarSix Ltd

 

 

鈥淣o, absolutely not. I never look at degrees when hiring. Sure, if you want to be a doctor or a lawyer, then yes, you need formal qualifications. But in business? I couldn鈥檛 care less. I don鈥檛 even look at CVs half the time. What matters to me is attitude, capability, and whether someone genuinely wants it. Have they got the right values, drive, and resilience? That鈥檚 what makes a great team member.

“I鈥檝e never believed education defines ability. Personally, I鈥檓 terrible at exams. The thought of university when I was younger, not knowing what I wanted to do, would鈥檝e been a complete waste of time. At 17, most of us have no idea what direction we鈥檙e heading in.

“When I hire, I look for people who are observant, emotionally intelligent, and grounded, the kind who鈥檒l bring energy and balance to the team. None of those qualities comes from having a degree. In fact, I couldn鈥檛 tell you if half the people I鈥檝e hired even have one. It鈥檚 just not what matters to me. People matter more than paper.”

 

Amy Lawrence, Deputy Managing Director at GingerMay

 

 

鈥淎s a business leader and stepmum, I鈥檓 genuinely shocked and frustrated that so many companies still see a degree as essential for hiring. We talk endlessly about diversity and innovation, yet continue to filter talent through the same narrow lens, equating degrees with ability.

鈥淢y 18-year-old stepdaughter wants to explore apprenticeships that combine study with real-world experience, but her school treats her like an outsider. Every morning starts with UCAS updates, yet there鈥檚 no support for those who want to learn through doing. She鈥檚 had to find the courage to stand alone, and I worry this will continue throughout her career. It鈥檚 a carbon copy of my own experience, and I鈥檓 staggered that nothing has changed in 20 years.

鈥淲hile not going to university hasn鈥檛 held me back, I still feel the stigma of not having a degree. I鈥檝e worked with exceptionally talented, driven and capable people, some who went to university, but plenty who didn鈥檛. I鈥檇 love to see business leaders open to experiences beyond this traditional route.

鈥淭he world is challenging enough for young people navigating AI, economic uncertainty and misinformation, without also having to fight outdated assumptions about what counts as 鈥榪ualified鈥�, and the rising burden of student debt.鈥�

 

For any questions, comments or features,聽please contact us directly.

 

Wouter Durville, CEO and Co-Founder of TestGorilla

 

 

鈥淚n a hiring landscape shaped by uncertainty and rapid change, traditional signals like CVs, degrees, and gut instinct no longer cut it. Employers are under pressure to close skills gaps while making fewer, more strategic hires. That demands greater clarity than ever on what candidates can actually do, and whether they have the right skills to succeed.

鈥淲e鈥檙e also seeing a dual shift: rising AI use paired with a growing focus on the human skills machines can鈥檛 replicate. Employers want people who can think critically, adapt, and collaborate. That鈥檚 why more are investing in tools to assess values, behaviours, and soft skills, not just technical ability. The best hiring strategies now combine objective data with a holistic view of the candidate鈥攖heir skills, values, and cultural alignment.

鈥淲hile budget constraints remain a challenge, the ROI on skills-based hiring is clear. Employers who lead on this front are making better hires, building more resilient teams, and positioning themselves to thrive in a fast-changing economy. Whether it鈥檚 building green infrastructure, leading in AI, or driving Britain鈥檚 quantum future, the UK鈥檚 success depends on matching the right people to the right roles at scale.鈥�

 

Alexia Pedersen, SVP International at O鈥橰eilly

 

 

鈥淯niversity can be incredibly valuable in developing critical thinking, communication, and the ability to learn 鈥� skills that underpin leadership and long-term career success. But in today鈥檚 digital era, young people no longer need a degree alone to succeed.
Tools and technologies evolve so quickly that students need to think carefully about their chosen subject and be open to emerging roles, such as AI prompt engineer, that didn鈥檛 exist a few years ago.

“With tuition fees exceeding 拢40,000, many students are exploring apprenticeships and employer-led training as more affordable, work-ready routes into careers in AI, cybersecurity, and cloud computing, where demand far outpaces supply. Apprenticeships provide hands-on experience, a salary while learning, and the chance for employers to shape talent in line with their processes and culture.

“Businesses that fail to invest in training programmes risk missing out. Partnering with online learning platforms, offering webinars, interactive coding environments, and access to solve problems in the flow of work, provides continuous development for new hires and top talent of the future. This blended approach supports different learning styles and paces, encourages lifelong development, and attracts diverse talent who see on-the-job learning as a viable alternative to formal education.”

 

Erin Gajdalo, CEO at Pluralsight

 

 

鈥淯niversity still matters, but it鈥檚 not the end-all solution for skills development and a successful career.

鈥淎I will continue to render skills that were essential yesterday obsolete, while creating entirely new ones in an iterative fashion for the foreseeable future. 95% of businesses see AI skills as a hiring priority this year, but a few years ago people barely knew what AI was.

鈥淏y the time many students reach the workplace, some of the skills they learnt at university will need to be refreshed or updated. But that doesn鈥檛 undermine the value of higher education altogether鈥攊t just means that learning and skill development beyond the classroom is more important than ever and should be something we all treat as a lifelong endeavour.

鈥淐ompleting a degree brings many valuable skills: deep theoretical expertise and a foundation of knowledge that can鈥檛 be taught on the job, critical thinking, adaptability, social skills, problem solving and more. On top of this foundation, universities need to transform and integrate AI fluency into every subject.

鈥淯niversity isn鈥檛 becoming a relic of the past, but we must think of it as the starting block for an era of careers that will demand constant upskilling and reskilling.鈥�

 

For any questions, comments or features,聽please contact us directly.

 

Pablo Jim茅nez de Parga Ramos, Co-Founder at Throxy

 

 

鈥淯niversity degrees are frequently associated with capability, focus and discipline. Completing one, particularly if an individual achieves top grades, shows that they can handle and be comfortable in high pressure environments.

“At the same time, many other environments can build the same qualities that university teaches. High-level athletics, competitive gaming, or the ability to master multiple disciplines all demonstrate focus, resilience, and the capacity to perform under pressure.

“At Throxy, a degree has never been a prerequisite for hiring. What matters far more is someone鈥檚 ability to show how they鈥檒l excel in the role and their capacity to grow and develop over time. Those two traits are stronger indicators of long-term success than a degree alone.

“In sales especially, I鈥檝e seen people with no degree or even poor academic grades excel. Academic success is one form of excellence, but it鈥檚 not the only one. Those exploring whether they go to university or not should consider whether a degree is really the right path for them, whether it鈥檚 a subject they鈥檙e passionate about, or if there are alternative routes that might better set them on the career path they want to pursue.鈥�

 

Khyati Sundaram, CEO at Applied

 

 

“Degree requirements are a retro approach to recruitment that is no longer fit for purpose. Yet, like the CVs degrees are listed upon, they remain a mainstay in many hiring processes. It鈥檚 a mistake that leaves employers choosing from a narrower talent pool and at risk of missing top talent.

“A degree is no guarantee of a candidate’s skill set or competency. On paper, qualifications merely reveal the opportunities and support a candidate has had access to. And as AI rapidly reshapes traditional job roles, a degree 鈥� even if directly related to the profession 鈥� can no longer promise up-to-date skills and knowledge.

“To accurately assess candidates鈥� suitability for today鈥檚 roles, employers need a more direct, skills-based approach which focuses on talent over titles. This involves using skills tests like work samples and scenario-based questions to identify candidates who have the best skills for the job, irrespective of where they learnt them.”

 

 

For any questions, comments or features,聽please contact us directly.