Summary of this article
30% of students see personalisation as important.
39% want more employability-focused coursework.
93% of universities use AI and data tools.
Personalisation in higher education could have an impact that goes beyond academics. Universities have been increasingly using data and artificial intelligence to understand individual student needs; the approach could help students manage one of their biggest milestones in life, which also demands a huge financial commitment. A report by KPMG called ‘Personalising the Student Experience’ shows that students place a huge expectation and importance on transparent and predictable costings. 30 per cent of students identify that personalisation is a huge part of the university experience. The report highlights that a proactive and data-informed approach to education is a priority for students.
This data reveals that there’s an opportunity for universities to move ahead of generic financial information and provide a personalised guidance process for students. Instead of every student receiving the same information on fees, financial aid, or available support, these systems in place can help students identify relevant options for their situations. The financial implications have become particularly important when students are deciding what to study and how to fund it. Choosing a course involves knowing how much is required to fund it. Expenses go beyond just the tuition fees and accommodation. A personalised student journey can help students have a step-by-step and secure plan for their entire education journey.
Employability is another important part of the financial equation. KPMG has found that 39 per cent of students wanted universities to do more coursework which is related to employability, adaptation and how to move ahead in adversity. On the other hand, 29 per cent universities state that they already had inculcated doing this segment as part of the courses. The gap, here, is significant as students’ eventual employment prospects influence their ability to repay education-related borrowing, build savings and achieve independence.
Technology and AI are already becoming a major part of this process. KPMG report states that 93 per cent of universities surveyed are using AI and data-driven technology to personalise the student experience. These tools are deployed across admissions, e-learning, advising, student support and even career development. In career development specifically, AI can help match students with jobs and internships that help them in upskilling. Tech-driven systems could also reduce the financial costs associated with poor academic outcomes. The report cites that AI tools can help students to stay on track, while institutions are using engagement data to identify students who need extra support.
Personalised higher education can help personalise financial outcomes; the objective is not to simply make universities convenient but to help students be more informed about what they study, how they spend and where they require support.
