Students-as-insurers: rethinking ‘risk’ for disadvantaged young people considering higher education in England

Harrison, Neil

Abstract

© 2018 Informa UK Limited, trading as Taylor & Francis Group. The conventional view since the early 2000s has been that participation in higher education (HE) is a risky pathway for disadvantaged young people in England; the social risk of entering an alien environment combines with the financial risk of rising costs and questionable long-term returns. This riskiness has been constructed as a major barrier to participation. However, national administrative data cast doubt on whether this analysis still holds true. Despite significant rises in tuition fees, the proportion of disadvantaged young people entering HE has continued to rise, with advantaged groups seemingly being more price-sensitive. Data from recent qualitative studies has also suggested that young people are now less attuned to risks. This paper considers whether circumstances in wider society have shifted perceptions of risk. The volatility resulting from the global financial crisis appears to have repositioned HE as a less risky option than early entry to the labour market, especially with more jobs becoming ‘graduate’, while the social risk has declined as HE has diversified. The paper draws on theoretical perspectives from Beck, Boudon, Simon and Kahneman to argue that many disadvantaged young people now view HE as a form of ‘insurance’ against an uncertain future.

• Journal Article Type: Article
• Acceptance Date: Oct 8, 2018
• Online Publication Date: Oct 17, 2018
• Publication Date: Jul 3, 2019
• Deposit Date: Oct 8, 2018
• Publicly Available Date: Apr 18, 2020
• Journal: Journal of Youth Studies
• Print ISSN: 1367-6261
• Electronic ISSN: 1469-9680
• Publisher: Taylor & Francis (Routledge)
• Peer Reviewed: Peer Reviewed
• Volume: 22
• Issue: 6
• Pages: 752-771
• DOI: https://doi.org/10.1080/13676261.2018.1535174
• Keywords: higher education, risk, investment, insurance, labour market
• Public URL: https://uwe-repository.worktribe.com/output/859676
• Publisher URL: https://doi.org/10.1080/13676261.2018.1535174
• Additional Information: Additional Information : This is an Accepted Manuscript of an article published by Taylor & Francis in Journal of Youth Studies on 17 October 2018, available online: https://doi.org/10.1080/13676261.2018.1535174
• Contract Date: Oct 8, 2018