This is an interesting issue. Are there ‘mickey-mouse’ degrees which are a waste of money?
This is a case of government failure stemming from the fact that we cannot just say whether a degree is worth the money spent on it. Worth it to whom? The student? The community? Some nebulous concept of society? The taxpayers who paid for the education? Business?
We simply cannot tell whether its worth it or not.
If we take the benefit to the individual as our measure of worth then we can make a stab at assessing it. The student pays a small amount for their university education (even with top-up fees this is not much of the costs) and their life whilst at university. A student of even the most ‘mickey mouse’ degree surely benefits from this arrangement in most cases. They have a great time at university, living the student lifestyle. They get a degree at the end of it, hopefully a 2.i which will enable them to fill out the forms on recruitment sites easing their job search. Its all good. They will probably get a slightly better paid job with which to pay back the relatively small loans they’ve taken out to cover their time at university.
There is no way we can easily measure benefit to society or community. To the state it means slightly higher tax takings, although whether they will total the amount spent or not is not easy to say.
Business may benefit, they may be able to hire someone who will increase their profits by more than the tax they paid towards university education.
Its not clear whether the tax payer benefits. On aggregate, the tax payer doesn’t I would say.
So its the student who nearly always benefits from the current setup, no matter what the degree is worth. The student gets funding no matter what. It makes it an easy choice. The degree may not confer much benefit, but given the low cost you might as well do it.
To fix this situation, the student should bear the full cost of their higher education. Only then will the choice be whether the degree is worth the money spent on it. This would encourage people to give money to their old universities to fund them and to set up scholarships for the poorest of the able students. Or perhaps the state could provide each university with money for scholarships.
This would not only aid the student in making their choice of university and course be one which is value for the money spent. It is only right that the primary beneficiary should pay for the benefits.
Of course, if business does benefit from particular degrees, they could sponsor the degree or the individual, like the military does already.
This will ensure that those degrees taken are worth it, it will optimise the money spent to minimize waste.
The poor will be able to get an education, new loans, scholarships and sponsorship will emerge. There are many possibilities. Some which entail debt, others which don’t and in which risk is attached to the funder.
It will however throw other problems into sharp relief. It will highlight how much money determines the quality of education a child gets. This should not deter from reform of higher education however, it should instead prompt the much needed reform of our education system to a system where each child gets the best available education for the individual child and not what the state determines.