Economist said inflation is pushing the UK towards education crisis
It is becoming increasingly difficult for British students to afford higher education due to a jump in inflation in the country. Rising prices are leading the United Kingdom to an education crisis – as noted by research economist Ben Waltmann, Bloomberg reports
Due to the reduction in income caused by rising prices, the Brits have begun to think about whether they should choose a job instead of getting an education. This has affected the poorest segments of the population the most. Paying for a child's university education was a problem for such families in the past as well, but it has become even more inaccessible because of rising food and energy prices. "This kind of cut in maintenance loans would push especially lower-income students towards not going to university,” Mr. Waltmann said. According to the agency, the reduction made 11 percent compared to 2020-2021.
In addition, it is noted that the cost of higher education has been growing in the UK in recent years.
Mr. Waltmann explained, “It’s not that it’s not worth it for these people to go to university. It’s more that, with financial support being cut in real terms, it’s become harder.”
