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Research Question:
“Analyze the impact of rising in tuition fee on Westminster Kingsway College students in Particular and the UK economy in the long term in general”
Survey Methodology:
A total of 50 students from Westminster Kingsway College were randomly handed out questionnaires regarding the rise in their college tuition fee.
The target population was all the students who attend Westminster Kingsway College are paying a higher tuition fee as compared to earlier.
My sample was selected randomly so each student had an equal possibility of being selected, hence the result can be generalized for the entire sample population.
Questionnaire specifics:
A close ended questionnaire was handed out, where respondents were provided with a range of options including ‘other’ and had to tick the option that was most relevant to their experience.
The questionnaire consisted of a total of 15 questions.Impact of Rise in Tuition Fee on the UK Economy Questions inquired the respondents about their social outings, gender, age, what they spend most of their budget on, how often they travel, grocery shopping, means of transport, stationery, eating habits and preferences, spending on clothes and how often they attend concerts and go to night clubs.
Results:
Results indicated that students do indeed face a negative impact from the rise in college tuition fees in Westminster Kingsway College.
‘The only thing more expensive than education is ignorance’ (Benjamin Franklin)
Every individual is entitled to a right to education, as stated in Article 26 of the Universal declaration of Human Rights (Nations). However, this is not the case. In today’s egalitarian society, where Capitalist norms dominate all arenas, education is given extreme importance and also has a significant impact on one’s life.
Westminster College Kingsway
In specific, Westminster students are forced to find cheap accommodation which may not be close proximity to the college. They are increasingly burdened to repay the large sum of loans taken to finance their education. Students therefore have a higher marginal propensity to save, reducing consumption in the economy.
Even students from affluent upper middle class backgrounds attempted to reduce expenses so as to reduce the burden on their families.
Students from the upper class and elite families claimed to feel no impact from the rise in tuition fee and that education, like everything, demands a price.
Students have to choose between higher education and other alternatives that could be pursued. High Tuition fee has greater opportunity costs such as travelling, buying houses and property etc.
Many students reported having to walk because their budget does not allow them to use transport. High tuition fee leaves students with lower disposable income to spend on clothes, food and social outings.
Higher education is crucial to culture special talent; develop science and technology, and accommodate modernization. Impact of Rise in Tuition Fee on the UK Economy higher education has 2 patterns: commonweal pattern and non-commonweal pattern. The non-commonweal pattern makes direct benefits, and also has heavy opportunity costs, including the loss of educational equality,
the decline of educational quality and the expansion of unemployment, etc. Comparison of the opportunity costs of those patterns aims at electing a better pattern of higher education.
Societal Hierarchy:
Financial status in society can either be ascribed or achieved. Accumulated wealth, inheritance and family property ensures one place in socioeconomic class A bracket, hence making higher quality education attainable.
Individuals in the bracket are provided with the fundamental information through parents and since an early age is ahead of others.
These individuals have the required resources to gain admission into top tier universities and Oxbridge; monetary and academic. Circulation of wealth within the family allows a few…
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