Is a degree worth it? 4 questions to ask yourself before applying to university 

As the rising cost-of-living strains the nation, university students are certainly not without monetary struggles. In fact, third-level students living away from home incur eye-watering average costs of more than €14,000 per year. 

With the application window for higher education in Ireland now open, you may be unsure if the financial burden of university will outweigh the benefits. Before rushing to a decision, consider the pros and cons, making sure you’re fully informed before making a judgement call.  

At a glance: Questions to ask yourself

• How will a degree help my prospects?
• Is having a degree a viable financial commitment?
• Have I explored other learning avenues that might allow me to work and study?
• How open are employers to applicants who don’t hold a degree?
   

1. How will a degree help my prospects?

Having a degree can help you to stand out against the competition for job opportunities. For some vocations it’s a must-have – such as doctors, physicists and therapists – so if your dream career has a degree requirement, it’s certainly worth it. 

Attending university can also be good life experience, bolstering your abilities in areas beyond just academically. Financial management, organisation and independence are all skills that can be enhanced throughout higher education, leaving you in good stead for the future – both professionally and personally. 

2. Is having a degree a viable financial commitment?

Attending university involves significant financial expenditure: €14,000 per year for the average student living away from home. Just one in ten (10%) undergraduate students have at least 91% of their costs covered by the Student Grant Scheme, while more than two-thirds (68%) have less than half covered. 

The rising cost of living, paired with mounting accommodation prices at most Irish universities, means third-level education is causing more financial setback than ever before for many students. Almost two-thirds (65%) of undergraduate students are now having to work at least 16 hours per week during term time to cover expenses, over a quarter of whom (26%) said it was having a significant negative impact on their studies. 

The financial implications of university must be considered before deciding whether to proceed with applications. Will the costs be feasible? Or will you have to work to stay afloat, potentially to the detriment of your studies? 
 

3. Have I explored other learning avenues?

There are plenty of other ways to learn if university isn’t the path you choose to go down. What’s more, many of these methods are easily accessible and completely free. Our Thrive portal has numerous courses across a variety of subjects. Alternatively, The Open University has 950 free courses and many valuable educational resources. 

Perhaps it’s worth exploring the plethora of upskilling opportunities available online – ones that won’t break the bank – before deciding if university is the path you wish to take. 
 

4. How open are employers to applicants who don’t hold a degree?

You might be surprised to hear that most employers are in fact open to hiring people without a degree – in fact, only 28% wouldn’t consider an applicant without one. 

The findings from our latest Salary and Recruiting Trends Guide are sure to be music to the ears of those opting not to go down the university route. Almost three-quarters (71%) of employers believe an employee’s willingness to learn is more important than their existing skillset. What’s more, with almost all (94%) Irish employers experiencing skills shortages over the past 12 months, it seems that organisations will need to continue being more flexible with candidate requirements.

Key takeaways

University is a big financial commitment, so you shouldn’t take the decision to apply lightly. If a degree is a must-have for your dream career, then third-level education is likely the right course of action for you. However, if there are other routes into your chosen vocation – or perhaps you’re not even sure what that is yet – then consider if cheaper learning methods could be a better option for you.

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