The scramble for university places continues as students go into clearing in the battle for higher education.
Thousands of hopefuls are likely to lose out, plunging them into the mass pool of unemployment with 4 A-Levels at grades A-C.
1 in 12 students received an A* grade and 1 in 4 achieved at least one A grade, yet many will not have the chance to go to university this year.
New figures reveal that 50,000 students will be denied a place despite achieving high grades according to the National Union of Students.
682,367 people applied for an undergraduate university course this year, before the tuition fees rise to almost £9,000 from next year. However, only 57.6% have been accepted so far.
Things are not so great for those who have been accepted as financially new research shows that student living has risen by £42.56 a month last year and looks set to rise again for the next 3 years.
Under the new fees which will be introduced next year, many students will face a lifetime of debt. Those who are not going to university this time round could start saving for next year.
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Students entering the job market face a tough time as the latest figures show that 950,000 under 25 year olds are looking for work. This represents a rise of 15,000 in three months.
According to the TUC, the UK has a job gap of 158,000. Employment figures are still down by 0.5% on the pre-recession levels of December 2007 though.
Young students who now have to turn to employment are more likely to find work in London where employment is up 3.3% compared to the West Midlands where employment is down by 2.8%.
Despite this, the Confederation of British Industry said that over half a million new jobs were created by the private sector in the last year, proving there is hope for the future.
The CBI, one of the UKís leading business lobbying organizations, recognises that those under the age of 24 are particularly affected by the issue of unemployment.
Dr Neil Bentley, CBI Deputy Director-General said, “Addressing the persistently high level of youth unemployment has to be a priority, with the number of 18 to 24 year-olds out of work continuing to rise.
“Businesses are committed to getting young people into work, with many already offering apprenticeships, training opportunities and work placements. But the Government must do more to prioritise private sector growth, which is the best way to create jobs.”
Those who hold A levels in maths, science or a language are ëmore likelyí to be in demand for employment.
“There is already a skills gap emerging in this area with over 40% of companies saying they are having difficulty recruiting people with science, technology, engineering and maths (STEM) skills,î continued Dr Bentley.
“Companies will need many more people with strong language skills to help them enter new markets like China in the future.