Would you go to University?

[VRDoctor]

Yikes, what the hell did you do for 3 years ? endless lines of cocaine lol ?

That's like American style student debt

Four years - under grad + pgce then five years of not earning above the payment threshold (Ph.D) then another year on a college teachers salary (again, below threshold) at 8% interest per year will do that.

I think I've only paid about 4k back (all in the last year). Only 9 years until retirement so not really bothered as I'll be slightly below the repayment threshold again and it'll get written off when I'm 67.

 

[andybird123]

What investments have you made that you can live off at 45?

I acquired a company at 30 and sold it when I was about 35, now I have 3 properties rented out and money in bitcoin, s&p500 and a few other things

I didn't invest and make a killing off investments, my career generated enough money that now I have investments which generate an income that's enough to live off.

My point was, you don't need to go to university in order to have a fulfilling and successful career.

 

[EdwardTeach]

I really enjoyed uni. I work in a job that requires my degree. I met my wife and a lot of my friends at uni. I would definitely go.
I never considered the debt very big, and if I had to pay the current costs it would not put me off.
Maybe relevant, reading some of the other comments, everyone I my family went to uni, my grandparents, my 12 aunts and uncles and all ~50 of my cousins, so it was very much expected that I would go!
We are currently saving for our kids to go, and expect the costs to rise.

 

[EdwardTeach]

I did a degree later in life (37 years old) then a PGCE straight after and I've just finished my Ph.D.

I wouldn't do a 'traditional' degree now - I'd do a degree apprenticeship. I'm a digital learning consultant (fancy name for an academic/skills coach) for a Digital Technology and Solutions degree apprenticeship provider and the way the whole integration of the KSBs (Knowledge, Skills and Behaviours) work and the tight aligning to the workplace is just much better than a traditional degree imho. I would encourage my kids to take that pathway if they wanted a degree (they don't - eldest is joining the Marines next year, 16yr old son just passed his GCSEs and is doing landscape architecture T-Level at agricultural college. Daughter wants to be a teacher but I'm really trying to dissuade her from this path).

This is the programme if anyone is interested :-

Digital and technology solutions professional

www.instituteforapprenticeships.org

Surely his PhD is fully funded so wont have a loan to pay back?

Phds outside of stem don't tend to be fully funded.

 

[Iamzod]

No, I wouldn't go to uni. I'd do something vocational.

I briefly did & it quickly became apparent that there was a load of filler involved that was irrelevant so I jacked it in after 3 months.

If I'd ploughed on then I would currently be paying nearly £300 per month, arguably I'd have got to my current pay level sooner but I quite like having no debts other than the remainder of my mortgage.