Quite a big figure isn’t it!
Putting it into words, it is nine billion, five hundred and twenty three million, eight hundred and seventy eight thousand pounds.
We thought it would be interesting to use the figures quoted in a recent report for the Department for Business, Innovation and Growth (BIS) to calculate what the lifetime value of just one years graduates from our partners is. We ourselves are astounded by the size of the resultant figure and particularly when you consider this is just one years graduates and only relates to first degrees, i.e. it does not include foundation degree, masters or doctorate qualifications.
So every year, our twelve partners are pumping out future economic value of over £9.5 billion. This figure comprises of the personal benefit to graduates (£4,024,020,000) and the benefit to the treasury in the form of HMRC receipts (£5,499,858,000).
We believe it is therefore fair to say, with such impressive figures, that investment in higher education yields exceptionally good returns, for the individual and for the country not only through tax returns but also in economic development and business growth. In fact, this has to be one of the highest yielding investments you can make, particularly during a time of such low interest rates.