Two-thirds of London parents back apprenticeships as average student loan debt hits 53,000

"Two-thirds of London parents would rather their child pursued an apprenticeship over going to university and be saddled with debt. Research suggests families facing rising financial pressures are increasingly weighing up their child's best route into long-term careers. Degree apprenticeships can be highly lucrative with graduates earning on average 37,000 just one year after completing the course, compared with 18,555 for those studying at higher education."

"Data from BAE Systems' annual Apprenticeship Barometer found that 66 per cent of 1,000 parents in the capital said they would prefer their child to choose an apprenticeship after school. Job security and earning while learning is stated as an important factor among 82 per cent of 16 to 24-year-olds also surveyed, a staggering 50 per cent increase in 12 months, while 70 per cent prioritise avoiding student debt."

"I chose an apprenticeship mainly because I find the pressure of delivering projects to paying customers is a real motivation for me to produce my best work. The fact that I earn while I learn is a bonus. During my apprenticeship, I've gained a wealth of knowledge from on-the-job experience just as much as I have from attending university. That's probably what I appreciate the most about the blend of learning and working."

Two-thirds of London parents prefer apprenticeships over university to avoid student debt and improve career prospects. Degree apprenticeships yield strong early earnings, with graduates averaging £37,000 one year after completion versus £18,555 for traditional graduates. Students finishing degrees face government loans averaging £53,000, up 10% year-on-year. BAE Systems' survey reports 66% of London parents favour apprenticeships, while 82% of 16-24-year-olds value job security and earning while learning; 70% prioritise avoiding student debt. One apprentice described motivation from delivering projects to paying customers, the value of on-the-job learning, and the financial benefit of earning during training.

Read at www.standard.co.uk