Would you go to University?

I'm glad I went and it was a good experience, but I wouldn't go these days unless it was essential to the career I wanted to pursue, as I wouldn't want to incur the large debt involved. In most cases I don't think you are learning anything at University that actually helps you get or gain apptitude for a career. I would say most non-vocational University degrees are a waste of money for the student and certainly aren't worth getting into debt for.
 
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"As of July 2024, the average student loan debt in the UK for students who started their course in 2022–2023 was £45,600, according to the Student Loans Company (SLC)."

This is paid off gradually once you earn about 26K off the top of my head, but it's still a burden with the even increasing cost of living and housing prices. It just feels like starting to earn 3/4 years earlier and not coming out in 45k debt is better to me in most circumstances.
 
jaybee said:
"As of July 2024, the average student loan debt in the UK for students who started their course in 2022–2023 was £45,600, according to the Student Loans Company (SLC)."

This is paid off gradually once you earn about 26K off the top of my head, but it's still a burden with the even increasing cost of living and housing prices. It just feels like starting to earn 3/4 years earlier and not coming out in 45k debt is better to me in most circumstances.
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That is the problem. It is waste of time unless you are doing a real degree. If you are not getting close to straight A's at GSCE and decent A levels then you are better off either going in the army and getting an education that way or getting an apprenticeship into something. Both of those can lead you into jobs in the 40% tax bracket without any debt and could quite easily be on the ladder by your mid 20's living on a decent wage.

Uni's are a bit of a ponzi scheme though as they need the throughput of people doing these lesser degree's to fund the proper ones.
 
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Just to add, in 2006 is when I applied for Uni and I am sure they sold it to me as the loans are "interest free"..... LOL.

It's still coming out my pay now nearly 20 years later. (Not much left to go though.. what an absolute rip).
 
Would I go to university again in the same circumstances, same low fees etc.? Yes

Would I go to university again with the circumstances as they are now? Not sure, it certainly wouldn't be the obvious decision it was, possibly would be more tempted by a degree apprenticeship instead
 
adam cool dude said:
Uni's are a bit of a ponzi scheme though as they need the throughput of people doing these lesser degree's to fund the proper ones.
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They also need international students because their fees are much higher and the government won't increase the "native" price. With recent changes to dependents/family of international students, their numbers are also in decline.

As someone who works in a university, this thread shows a worrying trend :p
 
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jaybee said:
"As of July 2024, the average student loan debt in the UK for students who started their course in 2022–2023 was £45,600, according to the Student Loans Company (SLC)."

This is paid off gradually once you earn about 26K off the top of my head, but it's still a burden with the even increasing cost of living and housing prices. It just feels like starting to earn 3/4 years earlier and not coming out in 45k debt is better to me in most circumstances.
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Jeebus that's crazy.

So it's either a degree or a house deposit.
 
I didn't go to university and believe I have done better for myself compared to if I did go, I was earning a average graduate wage at 18 and have had really good career progression since. My brother went to uni, went to the top place for his subject, spent 9 years there and has become super specialised in a really niche area and bought a house 10 years after me and he is 2 years older. I also strongly suspect I would have dropped out of university really quickly if I did go, the average uni scene really wasn't for me.
 
dlockers said:
Not really. Student loans are basically graduate taxes. You only pay them back over a certain earnings threshold, you dont pay whilst unemployed/travelling, it isn't a lump sum given to you etc.
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Oh yeah I get that, I had to pay one back (nowhere near 40k+ though).

Start saving that early doors and you'd have a deposit sorted in a shorter period than paying the loan back. Still, the argument is you'd earn more with a degree so...

Still, it's a shed load of cash. To think when most of the ageing MPs got degrees it was all paid for by the State.

E: But then not everybody could get on a degree course back then
 
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nlel1975 said:
Someone I knew died recently he was 62, turns out he was a professor which I’m led to believe is one of the highest levels in academia. I only found out he was a professor after he’d died. He was a nice chap, didn’t come across as a snob.
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I attended an open day with wifey and son, one of the Professors opening question to me and wifey was if were both in Academia; but said in a condescending way. I have a degree, but just said that, "no, the mrs and me are a bit thick" - she nearly fainted on the spot.
 
adidan said:
Oh yeah I get that, I had to pay one back (nowhere near 40k+ though).

Start saving that early doors and you'd have a deposit sorted in a shorter period than paying the loan back. Still, the argument is you'd earn more with a degree so...

Still, it's a shed load of cash. To think when most of the ageing MPs got degrees it was all paid for by the State.

E: But then not everybody could get on a degree course back then
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You can still do it through the army however. My father spent 22 years in the army and when he came out he walked straight into a job for ICL (Now Fujitsu). He was in the royal signals and got taught everything for free. Have no idea what it is like now however.
 
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adam cool dude said:
You can still do it through the army however. My father spent 22 years in the army and when he came out he walked straight into a job for ICL (Now Fujitsu). He was in the royal signals and got taught everything for free. Have no idea what it is like now however.
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ELC's can be put towards degrees (£6k), there are free degree schemes and the best option is you can corelate your training and experience to a degree scheme and potentially, 'top up' and get a degree in 18 months.
 
dlockers said:
Not really. Student loans are basically graduate taxes. You only pay them back over a certain earnings threshold, you dont pay whilst unemployed/travelling, it isn't a lump sum given to you etc.
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You also have to factor in that if the 50k spent on a degree leads to a job that will earn 6 figures it will easily pay itself back in the long run.

People see 50k as a lot of money when it really isn't if it leads to a job with substantial earnings.
 
eviled said:
Yes definitely.

Aside from career and financial prospects its where I met a lot of my lifelong friends and wife who are all of similar intellect.

Red brick Uni 20 years ago this year, £35,000 debt, earnt 6 figures from late 20s
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would you say the 6 figure salary came from having your degree or the fact it came stamped by a redbrick or the networking you did at uni?

It's like golf clubs... my nephew in law keeps telling me I should join so I can "network"... I'm like.. "dude I have a bad back" and unlike you (a company tax accountant) I don't need to network to keep myself in a job.
 
I did, twice infact. My career in the medical sector demanded it. If my aspirations had been different, I wouldn't have bothered. It's worth while if you have a specific goal and achieving it requires a university education, else it's pointless. imo.
 
I left school at 16 with 2 GCSE’s in Eng language and media studies. After a couple of years of odd jobs I managed to get a admin job in the FCO. Thanks to good performance and on the job training, career progression was very swift and within 3 years, I was managing new entrant oxbridge graduates. Some looked rather perturbed when they found out their manager only had two grade C GCSE’s and hadn’t even set foot in a 6th form college, let alone a university.
 
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