Is University Worth It?

[Chris_Sleeps]

I wouldn't be the person I am without uni. I'm never going to be rich, but being educated gives me a power and self-worth that you can't take away from me.

[vwkittie]

I think it entirely depends on what sort of degree you choose and, like most things in life, you get out of it what you put into it. Personally, I don't have a degree and don't feel disadvantaged by it. However if I had children and they wanted to go to uni, so long as they chose a reasonable course (preferably a sandwich course with a year in industry of not something vocational) I'd be more than happy to support them.

 

Ultimately the rate of repayment is pretty small on the new loans, and for many people probably worth it for the experiences, friends etc that uni can bring alone. There's more to life than money.

[Odin's Wrath]

It is not a debt!

 

Think of it more like a tax.

 

If I earn less than £21,000, I've wasted my time at uni but I don't pay anything back.

 

If I earn over £21,000, I only pay back 9% of whatever I earn over the threshold per year.

 

For example, if I earn £30,000 (I wish!), then I pay back 9% of £9000 per year which is £810, or £67.50 per month. This is taken out of my wages as a TAX before I even miss the money.

 

If you earn £25,000 a year, you'd pay back £30 a month

£50,000 a year, £217.50 a month. But, you'd be on £50,000 so who cares!

 

Yes, there's interest on it but who cares?! Whether you have £1000 or £10,000 left on it after 30 years then it gets wiped off!

 

Don't go to university if there isn't something you're interested in and don't go if you don't think you have the intelligence. But do not let fees effect your decision!

[francypants]

My daughter went to uni at Manchester because that was the path to go down to get into her teaching career. She's married now with children of her own and 10 years down the line she's still paying off her student loan every month !!!

My son who is almost 3 years younger than her didn't go to uni as the lifestyle didn't appeal to him at all. He didn't even go to college, he's virtually self taught and has got to where he is now through sheer hard work... he's in a managerial role in a successful IT business and earns more than my daughter. !

He's married with children, owns other property as well as his own house and has NO debt.

Do I think university is worth it ? No unless it's the ONLY way to get into your chosen career. Too many people go to uni not even knowing what they want to do at the end of their courses !!

[this_life]

It could also be that they are professions where people are paid little extra for a high level of management responsibility for which they have little/no training or support, being expected to perform well beyond the resources they are given.

 

I suspect in any case that the draw of power will not be sufficient to persuade people to take on ~£40k of debt.

 

So what is it that motivates people to choose and stay in these careers???

 

Young people choosing them may not understand the impact of earning less than 40K per year, over a life-time. When you're 18 a salary of 20K seems like unbelievable riches. Many people go into these careers later in life. And/or choose to stay in these careers. There is much widespread discontent in these careers about pay, conditions, stress etc. Why stay??? As with other threads on the Forum today, why stay in a low paid, high stressful area, feeling distressed.

 

Many people report that they do not feel cared for/supported as the patients/children/public (nursing/teaching/police). If it is not money, good working conditions, 'client' satisfaction. What is the draw???

[biotechpete]

Quote:

 

Originally Posted by biotechpete

 

It could also be that they are professions where people are paid little extra for a high level of management responsibility for which they have little/no training or support, being expected to perform well beyond the resources they are given.

 

I suspect in any case that the draw of power will not be sufficient to persuade people to take on ~£40k of debt.

 

So what is it that motivates people to choose and stay in these careers???

 

Young people choosing them may not understand the impact of earning less than 40K per year, over a life-time. When you're 18 a salary of 20K seems like unbelievable riches. Many people go into these careers later in life. And/or choose to stay in these careers. There is much widespread discontent in these careers about pay, conditions, stress etc. Why stay??? As with other threads on the Forum today, why stay in a low paid, high stressful area, feeling distressed.

 

Many people report that they do not feel cared for/supported as the patients/children/public (nursing/teaching/police). If it is not money, good working conditions, 'client' satisfaction. What is the draw???

 

Well some people, for sure, see it as a public service, a duty. Many others just feel trapped. The skills you learn and use on a day to day basis are not obviously transferable and largely not valued by employers in other sectors. I know of a few people who have left scientific and NHS careers to take a job working on the checkout at a supermarket.

 

 

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[L00b]

It would, and to be fair wages in some places did increase.

By and large, very far from being in any proportion to expectations, which was -and still is- the main problem.

 

I have MSc and PhD guys (and gals ) who have never been out of academia, attending a job interview for a Sheffield-based trainee position with us, with starting salary expectations corresponding to a London-based, part-qualified professional (at least 3 years into the job, more usually double)

 

Welcome to the real world

I just wonder if they will do the same again to meet the needs of todays University leavers.

Wrong way round: it's never been up to employers to meet the needs of University leavers, but always been up to Universities to prepare their students for employers'needs.

[this_life]

'He who pays the piper calls the tune'!!!

 

---------- Post added 03-06-2013 at 12:55 ----------

 

It depends on how much you 'need' the big house, big car, holidays, etc to what you are prepared to do for it!!! Having children shifts your view on this. Wanting things for your children affects your view on what you will tolerate for money.

 

Intrinsic motivation is a different thing. If your work is intrinsically motivating, that must be a good thing. I wonder how many people have that. Some people will tolerate an awful lot of 'pain' for a big salary.

 

---------- Post added 03-06-2013 at 12:58 ----------

 

And then there is the quest for POWER and CONTROL. For being the 'BIG MAN', who RULES THE WORLD.

[geared]

It is not a debt!

 

Think of it more like a tax.

 

Does it accrue interest like the student loan does?

[biotechpete]

Wrong way round: it's never been up to employers to meet the needs of University leavers, but always been up to Universities to prepare their students for employers'needs.

 

Surely this depends on the supply of graduates. If there are far fewer graduates and you need graduates you will have to compete with what other companies are willing to pay.

 

The marketisation of education will ultimately mean that either those who are independently wealthy will get all the graduate jobs, or employers will have to start to meet the cost of training their workforce, be it through higher wages or lower expectations of qualifications.

 

 

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