Loan News Students Dealing With Rising Cost Of Education
16 August 2006
According to a survey conducted by NatWest Student Money Matters, sixth formers starting university this year expect a three-year degree course to cost them over £33,000.
The findings demonstrate an increase of nearly £5,000 from a similar survey conducted in 2005, largely due to the changing tuition fees structure.
New students also expect to graduate with debts of nearly £15,000, which is an increase of over £1,000 on last year.
“New students are clearly much more clued up about the financial realities of university than in previous years,” said Mark Worthington, head of NatWest student and graduate banking.
“Despite the anticipated cost of university rising by 17 per cent on 2005, students are taking it in their stride and cutting back on their spending, meaning they only expect to graduate with 8 per cent more debt than those not paying the increased tuition fees.”
Regardless of the massive costs involved in attending further education, Mr Worthington advocated the personal, educational and professional development that is possible through university courses, noting that it “plays a huge part in shaping a person’s future”.