A big graduate recruiter plans to hire the “majority” of its trainees from among school leavers, not university graduates, and pay for them to receive a bespoke degree from a well-regarded British university.
From next year, KPMG will take in 75 school leavers, and then meet the cost of a four-year accountancy degree from Durham university and an accountancy qualification. Trainees on the six-year scheme will start on up to £20,000 a year.
In 2012-13, the maximum university tuition fee, now £3,290, will rise to £9,000. At the same time, subsidies are being withdrawn from the sector and rules loosened to allow new entrants into the market and innovation in course design.
As a consequence, such schemes could become more attractive to universities. David Willetts, universities minister, welcomed the news, saying: “It’s the kind of initiative that we hope will flourish as we reform higher education.”