Is university really worth the cost?
The amount of money it requires to attend a higher education institution dismays many of us.
It was back in 2011 when the government controversially approved legislation to allow any university to charge students up to £9,000 per academic year.
Three years later, it’s still a highly contentious issue as people take on big debts to study.
Last week it was reported that three-quarters of university graduates will never pay off their debts.
Surely this isn’t great for the economy?
The Higher Education Commission (HEC) warned that the average salary of a university graduate would mean they would be unable to repay their loans after the 30-year period.
Yes, I understand that a substantial rise to £9,000 a year meant that universities would become less reliant on the taxpayer, but all this borrowed cash that would be unpaid surely can’t be practical for us all?
I have never experienced university life, although maybe some day I will.
After talking to graduates and current students, it sounds like a brilliant experience.
It would be exciting to leave home, go off to university and taste independent living while studying.
But personally I’d rather not not do all of that on finance.
As young people, many of us wish to achieve as much as possible.
A degree may give you a boost regarding employment, although it’s not vital.
If you’re considering university, seriously think of the position you will be in after achieving a degree.
Will you be able to pay off your debt?
Will the investment be worthwhile and enhance your prospects?
I know some people who have gained a degree in an area completely irrelevant to what they now do as a job.
Yet they still have thousands of pounds of debt.
I understand there are professions such as teaching and medicine that require a degree.
So I have sympathy with those who incur debt to pursue these careers.
If you’re someone certain about what you wish to do in your career and that means you need a degree, then go for it.
But if you find yourself still unsure about what career you’d like to pursue, then I would say you should seriously think about whether university is right for you.