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Families Hit Hard by Rising Costs but Willing to Spend Money on Education

19th April 23

Despite UK inflation reaching its highest figure in 41 years in October 2022, adults didn’t compromise their spending when it came to online learning, with many believing that education will get them through the cost-of-living crisis, according to new research. 

While families up and down the UK continue to tackle rising costs, it appears that studying online continues to be something that adults are willing to invest in, according to research carried out by learndirect. 

The UK’s leading online learning provider has released The State of Learning, a report that provides insight into the commercial education sector, delving into the reasons why customers are buying online courses during economic uncertainty. 

According to the report, 54% of learners surveyed claimed that achieving a qualification through online learning would put them in a better position to earn money and get through the cost-of-living crisis, while 46% cited affordability as a key factor in their decision to enrol.

This mindset gives an explanation as to why adults were investing in education at a time when UK inflation rose to 11.1% in October 2022 – the highest in 41 years. 

In fact, between June and November 2022, learndirect Digital Group experienced a significant increase of course enrolments. 

Wayne Janse van Rensburg, Group Chief Executive Officer at learndirect, said: “At a time when people were cutting back due to rising costs, we experienced an uptick in enrolments, which begged the question, why? Why invest in education at such a tumultuous time? Thanks to our research, we know that the public very much value professional and personal development despite the economic uncertainty. 

“In fact, we found that people saw education as a route out of the economic crisis. By getting an accredited qualification to start a new career or get that promotion they’ve been working towards, people felt that they would be better positioned to earn money when the economy bounces back. 

“Making our online courses affordable through flexible payment plans, as well as providing a product that allows for learning around full-time work and lifestyle commitments, people haven’t had to compromise on their development during the cost-of-living crisis.”

The research also explores the future of digital learning and how it could impact traditional education, while also highlighting generational and regional trends. To read The State of Learning report in full, download it here.

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