There is a so much competition in today’s education system that the skills have now become the currency in the economies of this era. There has been a drastic increase in the number of graduates produced per year in the UK. It has been noticed that the students who have done higher graduation earn 80% more than the students who have only done graduation. Well, it is not necessary that every graduate student will earn a great salary. There was a survey which conveyed that on an average a student earns an extra income of 160, 000 euros. It is the income left after subtracting tuition fees, forgone earnings, and higher tax bills.
The future job scenario of the graduate students may be a danger, because, due to fetching of more number of graduated people, the number of quality students in an organization has decreased. There is also a saying that quantity does not matter, quality does. All these trends are based on past predictions. But the record says that the pay grade of a graduate student has not and will not be changed as per the past predictions.
Now, an important question arises that who will pay for the tuitions fees of a student in a university as the education of present era has become very expensive and there is not a single college or a university that offers a free education, until unless there is a scholarship facility provided by the university.
There are some countries which pay to the universities from the public funds and sometimes they also sponsor the living costs of the students in the university. This system is beneficial to all the students and the country can even recover the money they spent, as the graduate students who usually ends up having a better job in their hand will pay taxes to the government of the country. The country like these has a progressive tax system.
Another solution is that the students can take loans. The banks give loans to the students which they can clear after their education is completed. But this system does not offer this solution to every student. Banks approve loans only to those students who are promising, meaning, they approve loans only to intelligent students.
The facility of loan is not a viable option for the students because after completing the graduation they need to clear their loan. The income of the students being graduated is not guaranteed to be high, and there is also a fact that there is a very wide diffusion in incomes. Some countries like the UK, have put some efforts to flatten this situation with an amalgamation of income-contingent loans and means-tested grants.