£20k+ for 3 years of university

cw00

4

im still considering, is it worth it?

Reply 1

SnoochToTheBooch

17

I paid £35K+ for 5 years and have no regrets. Just make sure you do a course that is gonna get you somewhere.

Reply 2

Pen Island

10

I personally think it is.
Yes it is a huge debt, but you don't pay the fees upfront and you basically pay back for how much you get out of the degree.
So if your degree does nothing for you and you never earn over £21000, you never pay anything back.

Yes.

Depends on the uni/degree/person..

Reply 5

roachy1

10

considering Uni increases one's lifetime earning potential by £200k plus on average then defo

Reply 6

user settings

14

Original post by cw00

im still considering, is it worth it?

Yes it IS worth is

- If you earn less than £21k a year after graduating, you pay back NOTHING
- Your debt gets wiped out after 30 years
- and when you do start paying back your loan, you only pay back 9% of what you earn if you earn more than £21K

Reply 7

hatemylife

13

Original post by roachy1

considering Uni increases one's lifetime earning potential by £200k plus on average then defo

Which is about £4000 a year taken from an average working life, which is swallowed up by paying back the debt.

Reply 8

cw00

OP

4

whats the interest like when you start earning over £21k?

Reply 9

cw00

OP

4

Original post by Abir Ishtiaq

Yes it IS worth is

- If you earn less than £21k a year after graduating, you pay back NOTHING
- Your debt gets wiped out after 30 years
- and when you do start paying back your loan, you only pay back 9% of what you earn if you earn more than £21K

might have to doss about for 30 years!

Reply 10

JongKey

14

If you make a lot of money - say enough that the amount you'll end up paying back is more than what you took out, surely you could just repay the loan earlier on so you don't have to pay too much interest anyway. If you make enough money then you don't need to keep paying interest for 30 years, you could just pay it all off earlier (but the stupid government is proposing a fine for early repayments :angry:

but i don't think it'll be THAT much)

Reply 11

limetang

19

Well think of it this way. If you get a well paying job from your degree then the debt isn't going to be an issue. If you don't you won't be paying any debt because you won't be earning enough to pay it back so...