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Amid rising tuition rates and a global pandemic, parents and students may be reconsidering the value of a higher education. With the closure of Covid-19 campuses and online conferences, the high cost of a college degree may seem difficult to justify in today’s economic climate.
However, as the job market becomes increasingly competitive, a degree from one of the best universities can help young South Africans stand out from the crowd, steering them toward graduate-level jobs and higher earnings.
“The value of a college education goes beyond the degree itself. Additional benefits include peers who bring their own experiences and perspectives to campus; high caliber staff; and a global network of alumni connections and employment opportunities, ”said Rebecca Pretorius, country manager for global tutoring company Crimson Education.
Despite an uncertain application year, during which students faced a number of Covid-19-related challenges, global admissions trends show an increase in applicants vying for places in top universities abroad.
Harvard University reported a record number of applications for the class of 2025, receiving 57,000 applications, up from about 40,000 in the previous year. This trend was seen across the Ivy League and other major US universities.
In the UK, 76,940 students applied to Oxford and Cambridge, as well as courses in medicine, dentistry, and veterinary medicine and science, an increase of 23,670 applications from the previous year.
“The increase in global admissions highlights the already high value of a world-class education. At the same time, it also demonstrates the need for students to differentiate themselves, especially in the current and post-pandemic economy, ”said Pretorius.
With Covid-19 and the subsequent lockdown causing companies around the world to shrink, those entering the job market for the first time will compete for fewer jobs overall.
“In many cases, a bachelor’s degree is now considered a basic requirement across the board, especially in the fields of science and business. South Africans looking to start a career abroad will need to consider how they can attract employers, many of whom historically hire graduates from top universities, ”said Pretorius.
For those who want to pursue degrees and specialized professions, such as medicine, applicants will face even greater competition when it comes to gaining admission to one of the best universities.
In 2020, applications for medical schools in the US increased by 18% from last year, the biggest jump in more than a decade, and some schools like Stanford University School of Medicine experienced jumps up to 50%. With Covid-19 proving the importance of medicine, more and more young people are working to make a difference.
“South African students will find a lot of value in earning a university degree, whether from one of the best local or international universities. Moving to study abroad offers the added opportunity to travel, meet new people and cultures first-hand, and establish professional networks that will help you get hired after graduation. Although the future is uncertain, it is worth investing now more than ever, ”said Pretorius.
Read: New Proposals for More South Africans to Enter University
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