Take a student loan or pay fees?

Gymbob

adamh87 wrote: »

This ^^^ is very apt, does your daughter really need to go to university? It's really only worth it financially for Dentists, Doctors, Engineers, Economists, Lawyers (from a credible institution), STEM subjects & anything from Oxbridge.

Personal opinion: the VFM on a university education was poor a decade ago when fees were £1.5k, now they're £9k and wages haven't improved in that time.

While many people say it's not proper debt, I can assure you that it feels like proper debt.

At best a student's volunteering to pay an extra level of tax which you could avoid by starting work at 18, or even giving her a fraction of the £27k to go travelling for a year.

Agreed.. plan 2 is ridiculous. I've paid this year to do an MSc (yes £10,000 :mad:) as I didn't want a further percentage taken off any salary... beknown to a fair few people I feel like I should also point this out. A post graduate loan is not just added to your undergrad loan. You are once again charged interest whilst in university at the full rate, then once you start work you are charged a further 6% on any salary over £21,000... therefore you are now charged 15% of anything you earn over £21,000 as oppose to 9.. ... plus the usual NI (12%), tax.. pension etc.. it really makes you wonder if this so called 'trying to do well in life' is worth it, they might as well take my blood too..

marcusjr

Be wary of expecting to earn highly as a lawyer..Legal Aid cuts mean a lowish salary is highly possible for a long while. Private client is highly paid though.

adamh87

Voyager: yes abroad is a potentially good solution, there's an English language university in the Netherlands and many European countries provide very generous social security arrangements for students.

Gymbob: congratulations, good luck hope you enjoy it. I've thought about returning to study but have a sense of 'once bitten twice shy' in terms of how worthwhile it is. The Plan 2 thing is ridiculous! When I looked into how the plans 'work' together it was completely off putting.

Marcusjr: yeah totally, a family member studied law and now works in a gym so I know not everyone makes a mint from law! That said someone I graduated with works for a big bank so I expect she's doing OK...