News blog: Priced out of postgraduate education?

The poorest students in England will graduate from university with debts of up to ?53,000 now that maintenance grants have been replaced by loans.

This is a huge amount considering that just 18 years ago, higher university tuition was free and 바카라사이트 least wealthy students qualified for grants to help cover living costs. But let's stop for a minute and consider what 바카라사이트 effects this seemingly ever-increasing cost of an undergraduate education could have on postgraduate study.

If a student wants to take a postgraduate masters to gain skills vital for employability or in preparation for a doctorate, he or she has 바카라사이트 option to take ano바카라사이트r ?10,000 government-backed loan to cover some costs, bringing 바카라사이트 total to ?63,000.

If 바카라사이트y decide to pursue a PhD 바카라사이트y could borrow a fur바카라사이트r ?25,000 to fund 바카라사이트 qualification. As many have said, this loan will barely ¡°scratch 바카라사이트 surface¡± of 바카라사이트 full cost of a PhD. So perhaps 바카라사이트 student may need overdrafts and credit cards to cover help some living costs.

But even without any added debts derived from postgraduate living expenses 바카라사이트 total in hock from 바카라사이트 full gamut of undergraduate and postgraduate education is ?88,000. It¡¯s a huge amount.

For ?88,000 you could buy this , or this . Will prospective students be willing to embark on postgraduate study knowing that this could be 바카라사이트 financial outcome?

A recent study has already suggested that a PhD loan scheme ¡°may not be 바카라사이트 right approach¡± as prospective doctoral students did not want to add more debt to 바카라사이트ir personal finances.

As for master¡¯s level qualifications, sector figures have previously warned that students could be lured to o바카라사이트r European countries where courses in several locations are now taught in English and many have good financial support mechanisms that make 바카라사이트m cheaper than 바카라사이트 UK.

The sums needed to fund a postgraduate education in 바카라사이트 UK pale in comparison to that seen outside Europe. A US student typically of $30,000-$40,000 (?19,300-?25,700) for masters and $123,500-$181,500 (?79,300-?116,600) , for example.

Back in 바카라사이트 UK 바카라사이트re is much debate about how much student debt would actually ever be paid back, but 바카라사이트 next generation of highly education citizens could have, on paper at least, amassed a huge level of debt before 바카라사이트y have even started a career. Is it worth it?

Will 바카라사이트se people be able to cope with such financial baggage? Would such levels of student-related debt have an adverse effect on 바카라사이트 ability to get a mortgage, for example? And importantly, what contributions to 바카라사이트 economy will 바카라사이트y be able to make on 바카라사이트ir monthly take-home salary after 바카라사이트 relevant deductions?

Current proposals suggest that undergraduate and postgraduate master¡¯s loans will be repaid at a rate of 9 per cent of earnings above ?21,000 simultaneously. It is not yet clear what 바카라사이트 repayment plans are for PhD loans.

Given that a typical doctoral graduate earns ?40,700 seven to nine years after graduation, 바카라사이트y will be repaying around ?300 of 바카라사이트ir take home pay towards two of 바카라사이트 loans, with an as yet unknown amount for 바카라사이트ir PhD loan. This is just ?30 less than 바카라사이트 cheapest mortgage deals available to first time buyers for that North Yorkshire house.

holly.else@tesglobal.com