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Myth-Busting Mondays: How much debt does your average student graduate with?

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If everyone knows the answer then you are not busting a myth. Calling it myth-busting when everyone actually knows the answer implies everyone is stupid.

Maybe rename the series Trivia Tuesdays?

I can see what you're getting at with this one but many of them do actually try and bust myths and not everyone does know the answer because if they did, the polling figures would be heavily in favour of one choice - which they're not :smile:

Reply 21

Observatory

Original post by Deyesy

They don't know the answer to 0.001% precision but you have already said you only need to make the answers extremely similar because everyone knows more or less what the answer is.

Like I know a car weighs about a tonne but I do not know that a Ford Mondeo weighs 1507kg.

Reply 22

Deyesy

Original post by Observatory

Noted

I'll shall pass this on to the rest of the Support Team who also do Myth-Busters so hopefully next time this won't be the case.

Reply 23

username613045

I want to study veterinary medicine which is a five year course. I'll have a student debt of between £80,000 and £95,000, depending on if I where I study (London/not London)

Reply 24

ozziew

Assuming a majority do a bachelors and get ~£15000 per year from the student loans company I'd put it at about £15000 * 3 which is ~£45000, it's probably more around £44000 though as I assume there are more middle class in university than working class hence why I voted for ~£44000.

Reply 25

loveleest

I am really starting to re-consider going uni now. Might start looking for another option.

Reply 26

Mayhem™

meh, a career in investment banking should cover any of the numbers here :smug:

Reply 27

Helloworld_95

Original post by MrsSheldonCooper

If I chose to go uni here, I would come out with well over £60,000 in debt I think.

However, if I went to uni in the Netherlands, I'd probably come out with savings and no debt. I'm obviously hoping to go the latter.

I was speaking to my German friend the other day and she didn't even believe me when I told her how expensive the fees were :redface:

It's expensive but you get what you pay for, there aren't many European universities which can compete with those in the UK, only really the Swiss universities do so reliably. You also get a lot more support with living costs in the UK so while maintenance may cost less you also need to find it which isn't an easy task when you're talking 6-7k+ per year.

Reply 28

AmyPilot

God bless the NHS - no tuition fees and a bursary - half way through a 4 year course accumulating a yearly debt of approximately £2300 from SFE so in total less than £10k. Pity the new starters from 2017 who won't get NHS funding though

Reply 29

username1494226

The one thing every university student has the joy of sharing together is that they're all indebted to the government. It's the most perfect form of control. They have all of you, the countless millions, by the genitalia(proverbially speaking). I really hoped that young people were smarter than they let on after the 2012 fee hike. It should have meant lower numbers which would have forced the universities to cost cut to appeal to prospective students and force the government to go back on it as a result of lesser demand. But no, you all chose to line up as sheep ready for slaughter, imploring even more young people to join in on the slaughter as well. It makes me feel sound in my choice not to go. It may have been a good investment a decade ago but supply/demand economics finally caught up and the grads end up worse off than when they started. What a shambles.

Reply 30

username1494226

The theoretical maximum student debt number could be bonkers huge. Imagine a student who started off doing a foundation year, then another 3 years for the main degree plus one or two for the masters. You're talking probably near £100,000 in debt right there

Reply 31

hellodave5

Lived at home and worked part time. Only £12,000 debt over 5 years (BSc and MSc)

:tongue:

Was one of the lucky few before all students were done over!

Reply 32

Deyesy

Will post the answer around 5pm once I'm home from Manchester :smile:

Reply 33

-spirituality-

Original post by Deyesy

Will post the answer around 5pm once I'm home from Manchester :smile:

tenks

Reply 34

Deyesy

Apologies for the lateness, I had about two/two and half hours sleep last night and passed out sleepiness wise :redface:

Well done to those to guessed that graduates leave university with around £44,000's worth of debt! ^_^

Reply 35

MrsSheldonCooper

Original post by Helloworld_95

I beg to differ. I know its anecdotal evidence but it kind of backs up my reasoning as to why university here isn't great value for money imo anyway.

My cousin went to Oxford to do Languages a few years ago and he did the same course as my sister, who graduated this year. She picked a few modules that he had also picked when he was at uni and the work/tasks set were literally the same. The main difference was my cousin went to uni for £3000 a year and my sister paid £6 grand more.

I'm looking at an open day for unis abroad so depends really on if I like it or not.

Reply 36

Aph

Original post by MrsSheldonCooper

The issue you will have is you can't get student loans when you go abroad so have to self fund everything. Also student loans aren't really loans but a graduate tax.

Reply 37

MrsSheldonCooper

Original post by Aph

The issue you will have is you can't get student loans when you go abroad so have to self fund everything. Also student loans aren't really loans but a graduate tax.

You can get a loan from the Dutch government that cover your uni costs and you pay monthly. And in my case, I don't mind about that because I have money saved and am planning to work for another year.

I wouldn't mind going to uni here but coming out with a tonne of debt doesn't sound nice to me.

Reply 38

Aph

Original post by MrsSheldonCooper

You can???? I didn't think you could.

The issue is, yes it sounds like a massive number but it isn't debt in the traditional sense. It doesn't go onto your credit score. It will never affect your likelihood of getting a loan or morgage, you don't have to pay it off unless you earn masses of money and after 30 years it will be wiped.
The only time it would cause you trouble is if you went to go and live in a foreign country and didn't arrange to pay it back with SFE. if you did that you could be arrested upon entering the UK and face prison time.