Settling debt from University FeesPosted: December 29, 2011 | |
On my main website http://university-fees-and-student-finance.info I stress that getting well paid employment is one good way of paying off your debt from University tuition fees. Just in case we follow the Americans, I gave a list from their ‘Bureau of Labor Statistics’ of the fastest growing occupations for 2018. It is obvious that a well paid graduate job helps student finance by debt-killing.
In my eBook, I suggest where to find the best U.K. statistics so that you can rate your degree in both job-rate and pay terms. And now the American ‘Georgetown University’s Centre on Education and Workforce’ provides us with an interesting table on pay. The data has been extracted from the US census.
Start with the top 5 earners:
- Petroleum Engineering $120,000
- Pharmacy and Pharmaceutical Science $105,000
- Mathematics and Computer Science $98,000
- Aerospace Engineering $87,000
- Chemical Engineering $86,000
The bottom 5 are:
- Counselling and Psychology $29,000
- Early Childhood Education $36,000
- Theology and Religious Vocations $38,000
- Human Service and Community Organisations $38,000
- Social Work $39,000
At the time of writing, $1,000 is worth £644. So their lowest earning ‘major’ would be a median value of about £19,000, and their highest comes close to £77,000 per annum. Since emigration is clearly becoming a serious option for many UK graduates, it pays to know what is happening in other countries of the world.
One good thing is that a UK graduate earning £19,000 p.a. or less will not be expected to pay anything off their University debt
– but beware, because the unpaid debt grows all the time in line with the annual inflation rate!
You are advised to be very suspicious about League Tables and job shortage advice given in our newspapers, all of this is covered in a short article here. And if you wish to view an earlier article written when the idea of soaking our students was new then click here. The last article starts to list the steps you can take to avoid a lifetime of miserable debt from the hiked-up University fees.