’The next cohort of fresh-faced students to step across the university threshold will be paying up to £9,000 for the privilege. While the government felt this was an essential move to maintain the status of England’s world class universities, the public were not so sure. An estimated 50,000 people took to the streets of London in November 2010 to express their disapproval. It left many prospective students questioning whether university was really the right choice; does the additional training really compensate for the amount borrowed to make it happen?

 

My undergraduate degree in Sport and Physical Education from the University of Bedfordshire has left me with around £21,000 of student debt. The course was designed for students who wish to go into a sport based profession, particularly teaching, however in a cohort of over 100 students only a handful have progressed on to teacher training courses. The rest are scrambling around for any job that will take them, frequently finding that they are over-qualified for many of the entry level jobs that they are applying for. Was all the studying really worth it when they find themselves in a similar position to a 16-year-old school leaver?

Idecided to do a masters degree. Many jokes were thrown around about my unwillingness to grow up and enter the real world but for me this was best and most efficient way to get into the competitive world of journalism. After doing a great deal of research on courses, I applied to study Multimedia Journalism at Glasgow Caledonian University. The thought behind this was to get as much training in a range of fields, opening myself up to more job prospects. There was just one problem standing in the way - funding.

The direct.gov website makes it sound like a simple process to secure a Career Development Loan, a bank loan that helps people wanting to boost their job prospects by entering further training or study. No interest accrues on the loan whilst you are studying and repayments do not begin until the course is completed. This sounded ideal so I applied - and was promptly rejected. Unhelpfully, the attached credit report failed to stipulate any reason as to why. As a student Ipaid my rent in advance and paid my phone bill and gym membership, my only other monthly outgoings, on time. Things were looking bleak but fortunately my parents were in the position to loan me the money to complete my studies, with the intention that when I am in full-time employment I will start paying them back. I realise that Iam one of the lucky ones, or am I?

Moving to Scotland for my degree has really magnified the difference between the home nations. Scottish students still receive free education at undergraduate level, despite the government’s brief flirtation with a graduate endowment fee, and are able to apply for funding from the Student Awards Agency Scotland (SAAS) to help with postgraduate study. Doubts have arisen as to whether ‘luxuries’ such as free education will continue without the Barnett formula* and support from Westminster, should the Scottish people vote for Scottish Independence. What is evident is that Scotland at present offers far more support to its students in terms of money. English students attending Scottish universities will pay on average £8,509 per year with Edinburgh, St Andrews and the Royal Conservatoire of Scotland proposing to charge £36,000 for a 4 year degree.

The pressure is now on to find employment that allows me to use my newly acquired skills and earn enough money to make the £31,000 I have shelled out look like a valid investment. It’s true when people say that the university years are some of the best in your life but with applications this year reportedly down by 23,000  it seems that universities will soon, once again become no more than playgrounds for the privileged elite. Many young people from less affluent backgrounds will miss out on experiences that my generation has taken for granted. Whilst undergraduate financial support is still relatively easy to secure via Student Finance England, it is coming to a time where young people are going to have to weigh up whether the experiences and training gained are really worth £9,000 and rising per year.’

Is university for you? Check out our top tips to see whether it is the right choice - at the right price.

- Do your research.

Do you need a degree for your job of interest? Which institutions offer the best course for you? Will you need to do any further study after your degree? These are just some of the important questions you need to know. Some jobs don’t need degrees whilst for others it is essential and for some professions such as teaching you may need to do another course to get Qualified Teacher Status (QTS). Look out for courses that are endorsed by national bodies as these can put you ahead when it comes to entering the job market.

- Visit the campus

University league tables and prospectuses can only tell you so much. Try to attend a university open day for each of your UCASoptions. Here you will have a range of talks on the university, individual subjects and student life where you can get your questions answered. Open days also allow you to get a real feel for campus life. It will be your home for the next few years so it is important that you feel comfortable. Living on a campus closer to a big city can be more expensive and also try to find out how much renting in the private sector costs as you may not be able to live in university accommodation for the duration of your course.

- Find out what money you are entitled to

Most universities have a bursary page on their website, this is free money available to people who meet certain requirements. Talented scholars and athletes can apply for academic and sports scholarships respectively. Most universities also have lesser known bursaries that you may just be eligible for so make sure you check it out before you go. 

- Student overdrafts and credit cards

This is not free money and you will need to pay it back. Try and manage your finances and instead of racking up lots of debt try to find a part time job to fit around your studies. 

- Talk to students

Try and speak to people who did or are doing a similar course to you; speaking to student ambassadors at open days is a great way to find out what uni life is really like. If you can’t find anyone http://unistats.direct.gov.uk/ provides data on what final year students felt about their course. These opinions are probably some of the most honest you will find.

*The Barnett formula is used to work out the proportion of taxes afforded to the devolved states of Wales and Scotland. For every £1 of government spending, 85p goes to England, 10p goes to Scotland and 5p to Wales. Scotland has only 8.3% of the population and treasury figures indicate that the Scottish government spends £1,500 more per person on public services than England.