username4448648
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Is it worth leaving my family in debt to afford a 4-years Oxford course as an international student? (£40,000/year)

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pandore_
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No.
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username4448648
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(Original post by pandore_)
No.
Why?
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HenzoP
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If it’s 40k per year you’re looking at 120k debt , without all the extras , if you are not earning £25k+ after , you don’t have to pay back? So really it’s down to you , the debt will be yours not your families
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username4448648
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(Original post by HenzoP)
If it’s 40k per year you’re looking at 120k debt , without all the extras , if you are not earning £25k+ after , you don’t have to pay back? So really it’s down to you , the debt will be yours not your families
So you’re also telling me the chance of landing a job as an international is slim as well (even as an Oxford graduate)?
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_victoria
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120,000 debt is a lot of money. I obvs don’t know your financial situation but I would never put my parents in that situation . Maybe defer and try to save money ?
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_victoria
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What course is it ? If the course has good job prospects and the jobs have high salaries, might aswell risk it
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username4448648
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(Original post by _victoria)
What course is it ? If the course has good job prospects and the jobs have high salaries, might aswell risk it
Biochemistry 💔
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HenzoP
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Not at all! I’m assuming you are bilingual, which is an advantage, biochemist is a good role , and coming from oxford you probably will stand a great chance of landing a good job , from as far as I know - if you are here you begin paying a certain percentage after making £25000 a year however if you went abroad the debt is annulled for that time , so let’s say if you were to return home I’d imagine you’d still have to pay home as in your case you are an international student
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pandore_
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(Original post by Je5us)
Why?
Well, this is my personal opinion on that question. I could not imagine spending such a huge amount of money for studying - even if it's Oxford. There are other universities which are also good and where you could get the same and pay less - with probably less stress.

But in the end it is obviously up to you. Because nobody else can tell you, if it's worth or not. You define your priorities by yourself and nobody else can know how important it is for you. So: Do your research (compare universities, compare fees, compare average graduate salaries etc.) and list all the pros and cons. Different people - different decisions. We can't know about your individual circumstances and preferences.
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Doones
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(Original post by Je5us)
Is it worth leaving my family in debt to afford a 4-years Oxford course as an international student? (£40,000/year)

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Are you an offer holder?
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nexttime
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I'm not sure how we can answer this question if we don't know what the alternative is?

(Original post by HenzoP)
If it’s 40k per year you’re looking at 120k debt , without all the extras , if you are not earning £25k+ after , you don’t have to pay back? So really it’s down to you , the debt will be yours not your families
They're international so will not get student loans - this will be private sector debt.

(Original post by _victoria)
120,000 debt is a lot of money. I obvs don’t know your financial situation but I would never put my parents in that situation . Maybe defer and try to save money ?
Save £120,000. Even in the UK that'd take most people like 20 years :laugh:
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ZombieTheWolf
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(Original post by HenzoP)
If it’s 40k per year you’re looking at 120k debt , without all the extras , if you are not earning £25k+ after , you don’t have to pay back? So really it’s down to you , the debt will be yours not your families
Completely false. They are international so they are not entitled to student loans for anything and must make payments every year for their tutition.
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username3731912
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as a broke b*tch, nothing is worth a 120,000 debt.
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BlueIndigoViolet
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depends on how loaded who are - if people from crazy rich asians move to study the debt is fine - need to determine if you/family can afford it - career prospects from Oxford will be amazing but you have to consider cost....
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That'sGreat
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(Original post by BlueIndigoViolet)
depends on how loaded who are - if people from crazy rich asians move to study the debt is fine - need to determine if you/family can afford it - career prospects from Oxford will be amazing but you have to consider cost....
He already said it would put his family into debt, so they can't afford it
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BlueIndigoViolet
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(Original post by That'sGreat)
He already said it would put his family into debt, so they can't afford it
its a tough choice, getting into Oxford is really hard and then hit by these fees - would have to see how much debt your family would take in, in comparison to your household income, and whether it is sustainable, also if they have offers from their home country?

you have to consult your family and make a decision together...
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Muttley79
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(Original post by Je5us)
Biochemistry 💔
No, go elsewhere -
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Martin2343
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OP said 4 year course at £40k a year? So that's £160k, not £120k right?
So you graduate from Oxford with a £160k debt to your parents, plus living costs. Let's say £180k debt, assuming they provide for your living costs over this time aswell.
You manage to find a great job in the biochemistry field with a starting salary of £50k, around £35k after tax deductions. Factor in living costs, rental, you're looking at around £10k in savings.
At that rate, it would take you around 10 years to repay the amount, assuming you put down all your savings towards it, and assuming you go up the job ladder over this time.
Unless your parents can afford the debt, I doubt its really worth it
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username2337287
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The concept of landing an instant high paying job after graduating from Oxford is a myth, there are universities across the country that can do the same; this is course dependent. Some courses are not as equally respected in the perspective of the employer, despite one graduating from Oxford (An overrated university, where some degrees are better attained elsewhere), biochemistry is one of them. A biochemistry degree from Oxford doesn't really carry significant weight in terms of job prospects and would not place you in a significant advantage over other universities. Careers such as medicine follow the same path, the university you attended does not matter.

However, careers in law and finance are heavily biased towards Oxperial, and Cambridge. You are pursuing biochemistry, however, regarding job prospects, you will find it significantly difficult to financially accommodate £120000 worth of debt. Why did you apply in the first place lol?
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