Graduates can earn £160,000 more in a working lifetime compared to those with two A Levels or more, but it depends on your course.

New research by Universities UK reveals this ‘graduate premium’ marks a difference of 20 to 25 percent between those with a degree and those without, however there are some courses that will lead to a much better or worse premium. Medicine and dentistry students can earn a graduate premium of £340,000, however those studying humanities and the arts will earn less at £51,549 and £34,949 respectively.

Another positive revelation is that degrees continue to be financially beneficial despite the substantial increase in graduates in the last 15 years. This has been helped by a matching increase in the demand for a highly trained workforce, and suggests that there are plenty of jobs out there once you graduate.

The research was done to find out whether undergraduate degrees were still financially worthwhile with the introduction of tuition fees of up to £3,000 for full-time students. The President of Universities UK, Professor Drummond said: "The message from this report is clear: taking a degree remains an attractive personal investment that will produce significant long-term financial gains and many other benefits for the individual graduate."