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Is uni even worth it, financially? watch

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    I'm hoping that come this September (provided I have the grades ) I'll be starting Uni, but with all the debt that seems to come along with it, do you think nowadays uni is worth it? I get there's the social aspect of uni and gaining connections, but once you're done, you're thrown into the arena with everyone else and you're not even necessarily guaranteed a graduate job?
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    Depends on your degree, but in many respects yes. Financially uni is not worth it.

    However I think a lot of people go to Uni simply for the social aspect and gaining connections, as you said.

    Although in many ways, I'd imagine employers would prefer someone that left school after A-Levels for an apprenticeship say and has 3, 4 years experience in the field than a new graduate.

    Buuuut ultimately a degree is an extra qualification, regardless of subject. It opens you up to graduate careers and if you are doing a 'better' degree (medicine etc) you could potentially earn more.
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    Many people incorrectly perceive student debt to be a traditional debt, along with all the stigma attached.

    It's much more accurate to describe student debt as akin to "aspiration tax". It's a small portion you'll be paying on a future wage, that will more than likely derive from your qualifications earnt at university.
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    A degree costs around £82,000

    Breaking it down

    Tuition fee for three years £27,000
    Living expenses £25,000
    Money not earned while at uni £30,000

    total £82,000

    Of course, all the costs apart from the tuition fees are approximate and will vary a lot depending one where you study and how frugal or extravagant you are.
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    Yu are not gona be rich from going to uni, unless you do something like dentistry or work in the city or get an Oxbridge degree in a useful subject. However what uni enables you to do, is be moderately better off than someone on a minimum pay job. You don't have to worry about debts since you don't need pay until you start earning a certain amount and even then you will be paying a non significant amount a month. Uni also offers valuable life experiences and time to study your subjects interest in depth.
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    Yes because otherwise where would I learn all of the maths I learn?

    ~~ Someone who goes to university because they love their subject, not to get a job out of it.
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    (Original post by thegreatperhaps)
    I'm hoping that come this September (provided I have the grades ) I'll be starting Uni, but with all the debt that seems to come along with it, do you think nowadays uni is worth it? I get there's the social aspect of uni and gaining connections, but once you're done, you're thrown into the arena with everyone else and you're not even necessarily guaranteed a graduate job?
    Depending on what you do really! Like my sister wouldn't be in the profession she is now as her uni course was a requirement! Its worth the expense if you're actually going to use your qualification!
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    Depends who you are and what you want to do. Obviously there are some careers that almost require a degree. Careers in medicine spring to mind. But also what are you like as a person? Are you confident, outgoing, easy to talk to? Or are you like me;- boring, socially awkward and dosy? I'm in uni because I just couldn't start a career now, I'm too pathetic and unemployable. I hope a degree will persuade the unsuspecting employers that I am actually worth having.

    If you're like me, then uni is worth it. If you're like Steve Jobs, Bill Gates or James Dyson then give up and chase your dreams without getting into £50,000 worth of debt!

    Also keep in mind that you do need to work hard in years 2 and 3. If you don't get a First or a 2:1, you've wasted your time and proved that even after 3 years of study, you're still crap at the subject.
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    (Original post by thegreatperhaps)
    I'm hoping that come this September (provided I have the grades ) I'll be starting Uni, but with all the debt that seems to come along with it, do you think nowadays uni is worth it? I get there's the social aspect of uni and gaining connections, but once you're done, you're thrown into the arena with everyone else and you're not even necessarily guaranteed a graduate job?
    Worth it for the life experience alone hopefully!
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    (Original post by Maker)
    A degree costs around £82,000

    Breaking it down

    Tuition fee for three years £27,000
    Living expenses £25,000
    Money not earned while at uni £30,000

    total £82,000

    Of course, all the costs apart from the tuition fees are approximate and will vary a lot depending one where you study and how frugal or extravagant you are.
    Where do the £25k living expenses come from? Seems a lot for 3 years unless you live in London.
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    (Original post by OU Student)
    Where do the £25k living expenses come from? Seems a lot for 3 years unless you live in London.
    On the flip side they assume a three year degree. Which is less than average.
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    (Original post by OU Student)
    Where do the £25k living expenses come from? Seems a lot for 3 years unless you live in London.
    Rent
    Travel
    food
    drink
    going out
    movies
    clothes
    computers
    phone
    holidays
    sports

    If you can spend £8000 per year or less on the above, you are doing well particularly in a large city like Manchester and Birmingham
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    (Original post by Maker)
    Rent
    Travel
    food
    drink
    going out
    movies
    clothes
    computers
    phone
    holidays
    sports

    If you can spend £8000 per year or less on the above, you are doing well particularly in a large city like Manchester and Birmingham
    Not everyone uses those things. I, for, example, don't / can't drink and don't take holidays like that.
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    The way you pay it back makes it worth it. You don't have to pay it back unless you earn a certain amount, the payments are relatively low & it will get written off eventually. If it was a huge debt that you were forced to pay back regardless of income, maybe it would be less worth it but as is I think it's a sound investment.
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    (Original post by OU Student)
    Not everyone uses those things. I, for, example, don't / can't drink and don't take holidays like that.
    I knew someone who ate only lentils and had jars of the stuff so he could save money.

    It don't think either he or you are typical of student spending patterns.
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    (Original post by TroyAndAbed)
    The way you pay it back makes it worth it. You don't have to pay it back unless you earn a certain amount, the payments are relatively low & it will get written off eventually. If it was a huge debt that you were forced to pay back regardless of income, maybe it would be less worth it but as is I think it's a sound investment.
    Who knew you could pay back lost earnings

    If university doesn't improve the wage you would have got anyway, those loan repayments just mean you have less take home pay each month for 30 years than if you hadn't gone.
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    (Original post by Quady)
    Who knew you could pay back lost earnings

    If university doesn't improve the wage you would have got anyway, those loan repayments just mean you have less take home pay each month for 30 years than if you hadn't gone.
    Life isn't just about money though. University is a great experience. I've only just done my first year but if given the choice again, I'd still choose uni over not going to uni even if the wage I'd get was the same.
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    (Original post by TroyAndAbed)
    Life isn't just about money though. University is a great experience. I've only just done my first year but if given the choice again, I'd still choose uni over not going to uni even if the wage I'd get was the same.
    The thread is called 'Is uni even worth it, financially?'.
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    (Original post by Quady)
    The thread is called 'Is uni even worth it, financially?'.
    Yes but I feel that the experience makes the monetary value attached to university worth it.
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    I'd say it's worth it. You don't have to pay it back at all unless you earn a certain amount, and the experiences you learn from having to (kind of) fend for yourself are valuable. Plus many people have the time of their lives and meet friends for life - that's priceless.
 
 
 
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