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News, Student Debt

“University challenge: Fears of a generation who’ll start working life £50k in debt”

“The next generation of university students will pay a high price for their degree. The application process for courses starting in September next year opens in six weeks and many students and their families are weighing the implications of tuition fees of up to £9,000 a year.

These fees, plus living expenses while at college, will mean many students graduating with debts approaching £50,000  –  equivalent to a small mortgage. And like a mortgage, the burden of this debt can be spread over many years.

Changes to the student loan system mean that some future graduates will end up with lower mnthly repayments than they do today (see below). But for many students, the cost of a degree will become an important factor in deciding when, where and how they study.”

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