MSE News: Applications for 2012 uni starters falls, as tuition fees set to rise

robins66

My daughter applied early and received offers in October/November from all her University choices. However, having accepted her first choice and her Insurance she has now decided to seek full time employment and study for internal exams.
Her ambition for a number of years has been to become a barrister. She had planned to study Criminology and Sociology at University followed by a Law conversion course. She is predicted 2 A's and a B at A' level.
Having considered all options, she has decided that the prospect of approx. £60,000 of debt BEFORE starting work is too daunting. Studying at University is hard enough when you have to work to support yourself as well, but to know that even after that you will still end up at the start of your career with such a huge debt, is a nightmare scenario.
Her brother is 30 this year and is still repaying his student debt, which was a mere fraction of the debt she would incur.
We as parents totally understand her thinking and feeling this way.
What is ridiculous is that we are trying to introduce financial education into schools and then trying to justify YOUNGSTERS incurring such huge debts by saying that it is GOOD debt. In a few years time, couples who meet at University will be trying to buy homes together with joint debts of £90, 000 - £120,00+.
How can that be good, fair or right particularly when many of the politicians imposing these fees received a free University education and when students in Wales, Ireland and Scotland do not have to incur such huge debts.
UNITED Kingdom?
Apparently not!

Oldernotwiser

robins66 wrote: »

My daughter applied early and received offers in October/November from all her University choices. However, having accepted her first choice and her Insurance she has now decided to seek full time employment and study for internal exams.
Her ambition for a number of years has been to become a barrister. She had planned to study Criminology and Sociology at University followed by a Law conversion course. She is predicted 2 A's and a B at A' level.
Having considered all options, she has decided that the prospect of approx. £60,000 of debt BEFORE starting work is too daunting. Studying at University is hard enough when you have to work to support yourself as well, but to know that even after that you will still end up at the start of your career with such a huge debt, is a nightmare scenario.
Her brother is 30 this year and is still repaying his student debt, which was a mere fraction of the debt she would incur.
We as parents totally understand her thinking and feeling this way.
What is ridiculous is that we are trying to introduce financial education into schools and then trying to justify YOUNGSTERS incurring such huge debts by saying that it is GOOD debt. In a few years time, couples who meet at University will be trying to buy homes together with joint debts of £90, 000 - £120,00+.
How can that be good, fair or right particularly when many of the politicians imposing these fees received a free University education and when students in Wales, Ireland and Scotland do not have to incur such huge debts.
UNITED Kingdom?
Apparently not!

If she can get an appropriate job which will allow her to undertake relevant qualification then that would obviously be an excellent option and I hope she manages it.

However, the crunch may come if she cannot get an appropriate job (or possibly any job at all) after A levels, as happens to many people.

In case she needs the information in the future, it may be worthwhile telling her that she can do an LLB with the OU, regardless of the job she has (or none).

http://www3.open.ac.uk/study/undergraduate/qualification/b05.htm

tyllwyd

robins66 wrote: »

My daughter applied early and received offers in October/November from all her University choices. However, having accepted her first choice and her Insurance she has now decided to seek full time employment and study for internal exams.
Her ambition for a number of years has been to become a barrister. She had planned to study Criminology and Sociology at University followed by a Law conversion course. She is predicted 2 A's and a B at A' level.
Having considered all options, she has decided that the prospect of approx. £60,000 of debt BEFORE starting work is too daunting. Studying at University is hard enough when you have to work to support yourself as well, but to know that even after that you will still end up at the start of your career with such a huge debt, is a nightmare scenario.
Her brother is 30 this year and is still repaying his student debt, which was a mere fraction of the debt she would incur. ...

I don't think your daughter should be too hasty to discount the idea of going to university just because of the fee increase. As long as you are happy with the idea that you will very probably not repay the loan before it is written off at the end of 30 years, then there is not such a huge difference between the pre and post-2012 loans. And if she does manage to earn good money as a barrister, she should be able to pay it back more quickly. But I'm not sure if the conversion course would be eligible for a loan? And I think the pupillage for a barrister can be difficult to fund? So my feeling is that overall, the increased tuition fees isn't the major factor, it is the rest of the costs that will be more of a barrier.