Is uni worth the debt?

It’s the one news topic that doesn’t seem to grow old – the subject of tripled tuition fees sparked media interest from late 2010 and is still very much on everyone’s radar as the first year of triple-paying-fee student start their journey into debt.

So what’s the point? Going to university doesn’t necessary guarantee a well-paid job yet since the majority of universities now charge students £9,000 a year in fees – not including other expenses such as accommodation, living costs and extensive book lists – students will leave up to £27,000 in debt.  

So it’s not surprising that some potential students are now dismissing university for apprenticeships or in favour of getting a job straight away. Others are seriously considering it. And it’s to you that I speak. 

Going to university isn’t completely out of the picture for anyone. If you want to go but think you can’t afford it, the plus points are:

There will still be grants and bursaries available to make sure that where you’re from and how much your parents earn doesn’t affect whether or not you can afford a degree.

No one pays the fees upfront, so you don’t need cash in order to go.

You won’t ever face a debt collector as the loans will be repaid as a graduate tax, not in bulk amounts.

You won’t pay a penny back until you’re earning at least £21,000. If you never earn that much, you won’t have to pay back a thing.

The debt won’t have an effect on your credit rating.

And going to university is so much more about just getting a degree. It’s where people say you broaden your horizons and develop the most as a person. The life experiences and lessons you learn at uni will stay with you forever and, for many, spending three years at any university is unforgettable and invaluable – and really, isn’t that worth it?