Is University worth it? Good question, you’d have to assume yes – as the expense continues to grow, so too does the expectation and pressures of enrolling on to higher education.
But, with evidence aplenty that the true cost of university is dictated largely by the area – where do you want to go, scholar?
You may well be aware that the standard undergraduate tuition fee is now £9,250.
But that’s only part of the cost.
On top of this there you can have a maximum maintenance loan of £8,200, making the total debt for a 3 year undergraduate course some £51,600.
How much are university living costs and social costs?
Living costs and social costs differ depending on where you are in the country.
So whilst the tuition fees are standard across England, depending on where you decide to study, depends on the level of your day to day costs.
The tuition fees are slightly less if you study in Wales, Scotland or Northern Ireland, rather than in England.
You need to also consider your rent, grocery, alcohol, going out, course materials and travel costs.
Attending somewere like UCL in London, your weekly living and social costs, along with your tuition fees amount to £367 per week.
In contrast, attending somewhere in the Midlands, such as the University of Leicester, means these weekly costs drop to £315.
But the benefits of a university education can still outweigh these costs.
Graduates are likely to earn on average 20% more over their lifetime, compared with non-graduates.
British university qualifications are also valued by employers worldwide, making it easier for graduates to work abroad.
There is a lot to consider.
Mike James and Solution Loans have compared and contrasted the different regions of the UK – and decided, ultimately… it is worth it!
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