University may not be free, but it's still a bargain
Aug 27 2009 Agenda, Birmingham Post
£30 pounds per week. For twenty minutes walk you can save almost £2,750 per year compared to Victoria Hall. Now add in the lower cost of living for anywhere north of Watford and that London £220 a week is looking a little extravagant.
If you’re not willing to compromise on housing, there are still ways to save money before applying for “quantitative easing” from the bank of mum and dad.
Students from a low income family can get around £35,000 in government grants and loans, often more from their university, and it only starts being paid back after they start earning over £15,000 a year.
For anyone really averse to debt, the growing popularity of gap years can work to their advantage.
No longer does announcing yourself as a 20-year-old first year sound like code for “I just got out of prison”, (although if you did, it’s probably best not to mention that at freshers week).
One of my friends spent a year living at home, took two jobs and worked twelve hour days for eight months to save money.
He started university with a good few thousand pounds of savings and when I asked him how managed so many hours work he said it was easy; because all his friends were already at university there was nothing else to do.
Of course, this all starts from the assumption that university is essential. Luckily it’s not.
Everyone has heard a story similar to that of Dr Karl Gensberg, the University of Birmingham molecular biologist who realised he could double his pay by becoming a plumber.
That’s still true and becoming truer as graduates become increasingly numerous.
As a journalist my plumber will probably always earn more than me, but then that’s not the only reason for going to university.
University graduates are statistically less likely to be unemployed, but that doesn’t mean it’s money for nothing.
Degrees are suffering grade inflation, just like A-levels, and anyone that sees university as a three-year holiday is going to come away disappointed and debt ridden.
At the same time employer demand for the harder subjects, particularly the sciences, is soaring.
Choosing a harder subject at a better university doesn’t mean a life of libraries and sobriety.
There is still plenty of time for fun, but a few more hours spent working instead of watching daytime TV will pay dividends in the future.
And no, you can’t just catch it all up in your final year.
In short, going to university won’t leave you penniless and it’s not just for the rich.
With a little planning and effort, anyone can afford to go to university.
The most important part is to realise that the opportunities on offer can benefit graduates for a lifetime, but only if they’re willing to put in the required effort.
University may not be free anymore; but it’s still a bargain.
