The cost of going to uni...

[Andy C]

well, im going to be the first year of the £3000 a year uni fees and have been looking over the figures and just realised the real cost of uni.

Im going to uni for 5 year (1 year in industry) living away from home.

4 years uni fees = £12,000
accommodation x 4 (£4000) ~ £16,000 this is a Maintaince loan of this amount

Thats £30K, i mean what is the point of it when im going to be in that much debt? Yea i know it 7% of everything over £15000 a year but whichever way you look at it i going to pay £30K.

Just want to know your veiws, just seems a bit point at the moment that you have to "invest" 30K just to get a into the industry you want....
____________________
99 RS125 --> 02 SV650s --> 03 Speed Four --> 92 RXS100 --> 93 CB400sf --> 01 CB600f Hornet

[Major_Grooves]

As long as you are doing it for something worthwhile, then go for it. If you get into the industry you want and actually have a degree that will further your prospects in that career then it is well worth it.

What I find laughable is when they talk about paying back the loan/fees money.

You won't have to pay a penny back until you're earning at least £15,000

Is that supposed to be a good thing? Do they think that £15,000 is some magical number that means you have spare money? Try living in London on £15,000 and see what sort of life you have. I reckon they should move that limit up to £20,000 when you might actually have some disposable income.

[Andy C]

[Major_Grooves]

Chemical Engineering? There's a real degree. If you are decent at it and get a good degree you will get a good job no worries.

That student debt will be a distant memory once you've been working a few years.

I'd say making regular payments on the student loan would improve your credit rating. It's when you have no debts that you get screwed.

[numark1]

I hate money atm.

Getting paid on wednesday but have loads of stuff to pay for, no idea where its going.

600 outgoings (not bills or anything just stuff really) plus money in savings for uni and i am left with £330 to go to amsterdam with and the rest of the month, looks like im going to be dipping in the savings again.

Getting my fees and stuff paid for at uni but still general spending is a joke there, one of my mates blew 4k in his first term.

[WR450_geezer]

The average Graduate earns roughly £140, 000 more then a non-graduate in his or her life line.

£30, 000 is alot of money mate, I'm hoping to only be in debt around £10,000 when I finish.

What Uni did you go for in the end?

WR
____________________
Siggi, ''Fack, having Daz around is like living next door to PC-World, with a hole in the wall.''

[WR450_geezer]

Also found out today (not too sure how much truth is in it) but if you work out of the EU you will never have to pay back your debt and can return after 10years and work in the EU debt free.

Also if you haven't paid the debt in 26years its written off.

WR
____________________
Siggi, ''Fack, having Daz around is like living next door to PC-World, with a hole in the wall.''

[Andy C]

[cagiva gezzer]

Remember that you can, and i did, earn £4-5K each summer. That off sets it alot.

30K is a lot, but try and think how much money you'd need to be a bum for three years. Everything costs, just that paying to live at uni and the fees makes it seem like you're spending a lot on one thing. You're not. You're finacing your life for 3/4 years.

I'm lucky, got through it with the old style fees.

3 x £1000 fees
3 x £ 2900 loans

Think i owe just under £9k now. Sod all really in real world money.

At least you're planning to do a real degree.
____________________
"because one stroke isnt enough and four strokes waste two"

[colin1]

make it count
i didnt, so shdnt have gone to univeristy really
if you slip behind, but the work in and get up to speed. saying fuck it feels good at the time but is not a good idea (me)
try to get good summer placements that give you useful work experience so that you get a worthwhile job when you leave uni instead of mcjobs forever (me)

fortunately i did my degree b4 all this major debt style of degree. we had grants so my debt for 4 years of uni was about £3000
____________________
colin1 is officially faster than god

[instigator]

Get a summer palcement and perhaps a sponsorship and maybe a part time job throughout term time and that'll pay your way.

That and buying and selling bits like what I've been doing on ebay.

You sound like you really want to do chemical engineering so I don't think it would be a waste of your time, regardless of the financial situation.

[Irezumi aka Reuben]

[colin1]

yeah but if u want to be a chartered engineer you need a degree in engineering
____________________
colin1 is officially faster than god

[instigator]

[Black Knight]

Cost far exceeds the reward imo.

You could spend all that time and money and come out with a low grade. Not neccasarily 'you' but it does happen, a lot.

What happens when you do come out with a good grade? You still have to start at the bottom of the ladder behind all those other graduates (you know, the 50% of the population)

You could get a high powered job. if thats what you want...but all that says to me is, long hours, commuting, stress, lots of pressure. Yeah you may get a decent wage but balls to that. There are plenty of jobs out there which pay well that don't require a degree and are a damn site less hassle.

Not slating your decision to go to uni, just saying be aware of your circumstance, don't just listen to what lecturers and people in 'education' tell you, as they have got the biggest agenda of all.
Make your own decicions and make sure you do better than everyone else in the overcrowded market.
____________________
Where does a turn end? 'Where you can do anything with the gas you want to, where you are brave again, where your attention is free from the turn, where you are sure you can do it better next time; that's the end' - Keith Code.

[akaDAVE]

I think it's a good thing for a start that you're seeing it as an investment and actually accounting the costs involved.

I was in the last year that didn't pay fees. I didn't have a specific career in mind, it was more of a natural progression after A levels.
My degree was a bit vague but I always knew I was doing it to get a job at the end of the day.
I know a lot of people who've done degrees and they've been effectively wasted.
If you have a specific career in mind then you should put up with the hardship and invest the time and money.

I'm not sure I'd have taken the risk when I did my degree if the costs were so high, well I probably would have anyway but I would have worked a bit harder as the pressure would be on!
____________________
GSXR600

[JonB]

Yeah same situation for me.

I worked out that I could come out with a debt of £22,000 in 3 years time.

Seeing as I am doing a degree in History there is no guarantee I will even come out with a job, but I am taking a risk and you only live once, so why let money bother you.
____________________
Be careful whose advice you buy, but, be patient with those who supply it. Advice is a form of nostalgia, dispensing it is a way of fishing the past from the disposal, wiping it off, painting over the ugly parts and recycling it for more than it?s worth.

[Rookie]

My brother's 27 and still about £17,000 in debt, he's considering declaring himself bankrupt.

That's the trouble; these days a degree means so much less than it did, and costs so much more. He did an English Lit degree and really it hasn't helped him get his foot in the door much at all.

I'm doing a business degree; currently it's down as law and marketing, but I may switch it in the first few weeks, depending on what's available. There is no way I'm doing an educational degree - in my eyes, unless you're doing something hideously complicated, it's a big risk. Some people take it, and it pays off. Good for them. But I will definitely take the easy option, as it's a field I'm good at and I'm interested in. Pure marketing might be a good one; there's a decent chance I'll already have a job waiting for me when I come out.

I think I'll be around £15,000-£20,000 in debt by the time I'm out of uni; I won't be getting much in the way of parental support, so it will mean borrowing all the money I can, and working 3 or 4 shifts a week. It's a bitch, but if you think you can do well, it's worth it. The worst thing to do is stay there getting yourself more in debt, when ultimately you're going to fail anyway.

[numark1]

My degree is worthwhile, accountancy and entrepreneurship then after that ICA qualifications and then set up my own private practice.

Thats 4 years at uni and im not sure how long with the chartered accountancy, probably quite a long time. Will get in quite alot of debt but hopefully my business will take off and i will reap the rewards later on in life.

Fuck working for other people, i hate it.

[Andy C]

[Rookie]

[Andy C]

[EuropeanNC30R...]

I'm coming to (hopefully) finishing my final year at UWE, Bristol. In my fourth year now, 3 years in uni, 1 year internship. I'm going to have around £12k debt, personally I think £30-odd k is ridiculous.

If you're going to spend that much I'd make damn certain you work very hard and have a very good chance of getting a highly paid job when you finish.

Like Reuben said, if there's another way into the industry seriously consider it.

This may sound weird, but I preferred working last year to uni this year. The social life is good, but it ain't worth 30k.

[Andy C]

[EuropeanNC30R...]

Have you checked out job sites/ general employment market for your profession to be?

Just wondering, quite a few uni's I looked at bullshitted us at the open days with 'you're guaranteed £xx,xxx starting salary when you leave' etc. I've since learnt the real situation is about 10 grand a year lower