Student tutition fees tripled .... & Student's future
Friday, December 17, 2010 1:22:47 AM
Are we not allowed to educate anymore?
Most of the students not only don't have that kind of money, but also no one wants to be in debt for the rest of their lives. Let's make a clear calculation of this situation, let's see how it will look for one person after graduation..
From January 4 2011, the main rate of VAT will rise from 17.5% to 20%.
Average pay: £30 000 per annum Pay per month: £2 500 with VAT - Student loan to pay : £125 Pay minus student loan rate 5%: £2375 - Council tax rate 20%: £475 Pay minus Council Tax rate 20%: £1900 - Left pay: £1900 Average Rent/Mortgage: £1200 Average Food: £200 Average Gas/Electricity/Water/Internet/Telephone per month: £165 Bills summary per month: £1565 - Money left: 1900 - 1565 = £335
Think £335, think clothes, cosmetics and preferably car all within 335 per month... I don't think so. Conclusion is simple, you graduate don't ever work for £30 000 you'll barely support yourself.
Now... think student DEBT. £9 000 per annum for tuition fees. Let's see how much of a student debt we will be left with, considering student taking a tuition fee loan and student "food" loan.
3 years of university education + Practical year + Master's degree: 4 x 9000 + 3 000: £39 000 "Food" loan through 5 years (~£6 000 per annum): £30 000 Overall debt: £69 000 Average pay per month (see calc. above): £125 Average years to pay off the debts: 69 000 / 125 / 12 = EXACTLY 46 YEARS ;)
So if let's say you're around 30 when finishing your degree, you will be left with no life until you die. Think 30+46= 76, are you even going to live THAT long? I am not crazy merely showing off the facts, which clearly say that if the tuition fees will rise studying in higher education in England will prove to be crazy. Solutions if the situation won't change? Either go studying abroad and the come back to England with shiny degree done much much cheaper and without debts. OR just go to work and eventually climb higher though experience.
Either way the future doesn't look good at all.