
Higher education is often expensive due to tuition and living expenses. Therefore, the burden of debt to attend university is an important factor that can influence young people's decisions to invest in their education. In the United Kingdom, for example, ¼ of students believe that going to university is not worth it, according to data collected by Ipsos in a recent survey from May 2023. The main reasons for this opinion are tuition fees and student loans.
More than 1/3 – 37% also believe that it is not necessary to go to university to get a good job. Comparing tuition fees, loans and financial support is a challenge, with many complex dimensions to consider and above all different variables across Europe. Average wages and employment of recent graduates also vary by level of education.
According to the European Commission's report on National Student Fees and Support Systems in European Higher Education – 2020/21, full-time students pay no fees in first cycle programs in seven of the 42 higher education systems in Europe. These are Denmark, Greece, Cyprus, Malta, Finland, Sweden and Turkey. There are also no fees in public higher education institutions in Norway.
However, in 12 higher education systems, all first-cycle students pay fees. These are Belgium, Luxembourg, the Netherlands, Portugal, the United Kingdom, Albania, Switzerland and Iceland.
In the remaining 23 education systems, some students pay fees while others do not. Fees may be different for different educational programs or fields of study. In the Czech Republic, Germany, Croatia, Poland, Slovenia and Slovakia, full-time students mostly only pay administrative fees of up to 100 euros. In 14 higher education systems, annual fees range from 101 to 1000 euros. In Ireland, Spain, Italy, Hungary, the Netherlands and Switzerland, the most common tuition fee is relatively high and ranges from 1001 to 3000 euros. The most common annual rates are highest in England, Wales and Northern Ireland.
All European countries offer at least some form of direct public financial support to students in the first cycle of higher education. According to the Eurydice report, public scholarships exist in all European higher education systems except England and Iceland. Subsidized loans are present in about two-thirds of European higher education systems. Income-based scholarships are the most common form of direct financial support in Europe.
In terms of employment, in 2022, 86.7% of graduates aged 18 to 34 in the EU were in work, while the rate was 74.2% for high school leavers, according to Eurostat. The employment gap between recent graduates of tertiary, higher and post-secondary education is 12.5% in the EU. A fact that suggests that getting a degree really helps to find a job after studying.