Your thoughts on university

Pont

angelil wrote: »

Is nobody else here worried about the attitude to debt shown on this thread (especially given the main aim of this website)?

Can it really be good for the economy to have so many people taking out loans that they (and the Student Loans Company) know they will be highly unlikely to ever repay? I don't think so. Personally, I'm just waiting for the implosion.

Yes - I am. I am still paying my debt off - don't like it however I realised the implications before taking it out. In the big scheme of things I wouldn't be able to work in my line without my degree so I guess it's the old adage 'you pays your money and takes your choice'!

My daughters will leave their respective universities with debts of circa £30,000 each (mine was £7,000). This scares the life out of me! I've advised them to get a get their degrees and emigrate :-(

Alikay

angelil wrote: »

Is nobody else here worried about the attitude to debt shown on this thread (especially given the main aim of this website)?

Can it really be good for the economy to have so many people taking out loans that they (and the Student Loans Company) know they will be highly unlikely to ever repay? I don't think so. Personally, I'm just waiting for the implosion.

Well, since repayments are collected through the individual's tax code at a later date, and with moderately small installments I don't think it's viewed quite the same as say bunging it on a credit card.

I am surprised though that people don't expect more value for money from the universities. Some courses are only 5 or 6 hours per week tuition time (average being only 13.9 hours) p/w for 30 or so weeks a year. That's a massive hourly rate at £9k per year! I'm amazed that any student would miss a 2 hour lecture which is costing them nearly £100, but apparently that still happens a lot.

CH27

angelil wrote: »

Is nobody else here worried about the attitude to debt shown on this thread (especially given the main aim of this website)?

Can it really be good for the economy to have so many people taking out loans that they (and the Student Loans Company) know they will be highly unlikely to ever repay? I don't think so. Personally, I'm just waiting for the implosion.

I am!
My son will owe around £40k when he graduates. He's doing a STEM subject so I expect he will pay it back but I worry about his ability to buy a house etc in the future.
His student debt will be more than my house cost.

Spendless

Hi Claire

At 47 I am a similar age to yourself, my husband is a year older and we have 2 kids aged 14 and 11.

None of us went to Uni, neither did our parents or grandparents (my maternal Gran might have, she was clever, the only child in her year to pass the 11+ and got to Grammar school, but WW2 got in the way).

When me and husband were at school only the most academic of the class and if they were considering a career where you needed a degree (eg Dr, teacher) went to University. My husband's schooling was further complicated by attending several as his Dad was in the Army.

Aged 24, I'd made it to Junior management, though redundancy closely followed by motherhood and staying at home has meant I never returned to this level of employment. Husband went into management slightly younger and has continued to climb the career ladder. This isn't all that unusual with people of our age group. A good friend from the school days, who was very academic decided she wasn't interested in Uni, went to work in a bank (it required A level maths then) sat her internal banking exams and became ta branch manager.

The job market has changed though, since we were school leavers. The job that DH started from school, with no more than a few O'Levels now asks for a graduate.

Niether of me kids know exactly what they want to do, eldest who has just taken his options wants to do something within the world of science and health and has chosen his subjects accordingly. Youngest started drama classes 6 months ago and if asked she wants to be an actress, I don't find that unusual given their ages. Many of my kids peers have no idea either.

My son successfully applied to go on an outreach programme at a nearby Uni via a scheme ran by his school. To be eligible to apply you had to not have parents with degrees. I did a thread about it that was in discussion time that you might find useful to have a read of as it was me asking why more people had gone on to Higher Education than previously.

The thread is here.

https://forums.moneysavingexpert.com/discussion/4812132

claire21

Quote : I am surprised though that people don't expect more value for money from the universities. Some courses are only 5 or 6 hours per week tuition time (average being only 13.9 hours) p/w for 30 or so weeks a year. That's a massive hourly rate at £9k per year! I'm amazed that any student would miss a 2 hour lecture which is costing them nearly £100, but apparently that still happens a lot.

I didn't think it would be that little hours a week, how many hours a week do you think they work/study on their own?

Is it the same timing each week? Is that how some manage to work a day job eg knowing what hours they are always free? Or do the majority opt for evening / weekend jobs?

greenorange

I believe student debt should not be wiped after a certain amount of time; I have 27k student debt.

I'm one of the few who would prefer to overpay and get rid of the student debt, however it's a risk, as if I overpay for 10-15 years, then life decided I earn under the threshold or become a stay-at-home parent for the next 10-15 years, then all the overpayments were for nothing, as the debt will just be written off 25 years from when I graduated, whether that is for £5k or £25k.

If the debt wasn't written off, I'd be much more inclined to overpay and get rid of it as quickly as possible.

Alikay

claire21 wrote: »

I didn't think it would be that little hours a week, how many hours a week do you think they work/study on their own?

Is it the same timing each week? Is that how some manage to work a day job eg knowing what hours they are always free? Or do the majority opt for evening / weekend jobs?

http://www.theguardian.com/education/2012/may/17/students-time-lecturers

At an average 25- 29 hours of work per week and 20 ish weeks of holiday, I'd say there was plenty of time available for a job.

Spendless

claire21 wrote: »

Quote : I am surprised though that people don't expect more value for money from the universities. Some courses are only 5 or 6 hours per week tuition time (average being only 13.9 hours) p/w for 30 or so weeks a year. That's a massive hourly rate at £9k per year! I'm amazed that any student would miss a 2 hour lecture which is costing them nearly £100, but apparently that still happens a lot.

I didn't think it would be that little hours a week, how many hours a week do you think they work/study on their own?

Is it the same timing each week? Is that how some manage to work a day job eg knowing what hours they are always free? Or do the majority opt for evening / weekend jobs?

That really shocked me, when my Niece went and did her degree (maths) and I discovered that her time in lectures was Tues-Thurs morning, times varied between 9am-ish until 1pm-ish.

Pont

claire21 wrote: »

Quote : I am surprised though that people don't expect more value for money from the universities. Some courses are only 5 or 6 hours per week tuition time (average being only 13.9 hours) p/w for 30 or so weeks a year. That's a massive hourly rate at £9k per year! I'm amazed that any student would miss a 2 hour lecture which is costing them nearly £100, but apparently that still happens a lot.

I didn't think it would be that little hours a week, how many hours a week do you think they work/study on their own?

Is it the same timing each week? Is that how some manage to work a day job eg knowing what hours they are always free? Or do the majority opt for evening / weekend jobs?

Both of my children are studying what would usually be identified as 'heavy duty' courses - neither have face-to-face contact for more than 20 hours per week! This is considered very good compared to their flatmates.

Because of tuition fee costs, I believe everyone (students and parents) should be demanding value for money. Those universities that can't deliver will go under - those than can, will succeed. I guess down to market forces - the same as anything else.

Btw, my daughters have had a timetable for each term. They have been able to find work around their schedules - they have had to - no bank of mum and dad (mum) here!

CH27

claire21 wrote: »

Quote : I am surprised though that people don't expect more value for money from the universities. Some courses are only 5 or 6 hours per week tuition time (average being only 13.9 hours) p/w for 30 or so weeks a year. That's a massive hourly rate at £9k per year! I'm amazed that any student would miss a 2 hour lecture which is costing them nearly £100, but apparently that still happens a lot.

I didn't think it would be that little hours a week, how many hours a week do you think they work/study on their own?

Is it the same timing each week? Is that how some manage to work a day job eg knowing what hours they are always free? Or do the majority opt for evening / weekend jobs?

My son works weekends. He concentrates on his uni work during the week.