![]() Higher education in the UK is sliding towards people only studying course that there is a 'financial case' to do, i.e. There is a real risk that these subjects will be seen as not financially viable and abandoned, or at least only filled by students whose families are able to support them through university. However, those in the arts and media side of education are, generally, not likely to earn as much per year as "hard" subjects. Certainly this tends to be true in cases of graduates from legal and business degrees, as well as scientific and engineering degrees and others similar. The government justified allowing universities to charge much higher tuition fees on the basis that "graduates on the whole earn more". ![]() It's a huge figure to face for an 18 year old faced with choosing a university course, and many now seem to be either applying for courses that 'guarantee' a high paying job at the end of it, or not applying to university at all. ![]() Again, not terrible sounding but this will take a huge chunk more out of a monthly wage than what is already being paid on the normal student loan. The government state that this isn't to be paid up front, but will be added to the normal student loan and you start repaying it once you begin earning above £21,000 a year. However, tuition fees have recently been increased in most English universities from around £3,000 per year for an undergraduate course, to in some cases £9,000, and in most cases at least £7,500. While this is quite a chunk of the monthly wage, it's not been too bad for most I don't think, certainly not in my own case. ![]() Repayments stop if you are out of work, retire at the state pension age of 65 (or soon to go up to 67!), or die. I'm not sure of the US mechanism of paying back a student loan, however here in the UK paying back is a percentage of what you earn once you earn over £15,000, something like 7 or 8% I think. ![]()
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