Is a university degree good for you? This is a big question in England now. Many young people worry about money.
Most students finish university with a lot of debt. They owe about £47,000. This is a very large amount.
Tuition fees are rising. Each year, a student pays about £9,500. Students need two loans.
The first loan pays for the university classes. The second loan helps with rent and food. This is the maintenance loan.
But life is expensive. The loan is often small. Some students do not have enough money for bills.
So, many students work and study at the same time. They work in shops or restaurants. This helps them pay for food.
The rules for student loans changed in 2023. Now, students pay back money for many years. Some people pay for 40 years.
This is a very long time. Is it still a good idea? Usually, graduates earn more money.
In 2024, graduates earned about £42,000. People without a degree earned about £30,500. So, a degree can help you get a better job.
But some subjects are better for money. Medicine and economics are good for high pay. Creative art subjects usually have lower pay.
Every student must think carefully. University costs a lot of money now. It is a big choice for your future.