Settling debt from University Fees

On my main website 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:

  1. Petroleum Engineering $120,000
  2. Pharmacy and Pharmaceutical Science $105,000
  3. Mathematics and Computer Science $98,000
  4. Aerospace Engineering $87,000
  5. Chemical Engineering $86,000

The bottom 5 are:

  1. Counselling and Psychology $29,000
  2. Early Childhood Education $36,000
  3. Theology and Religious Vocations $38,000
  4. Human Service and Community Organisations $38,000
  5. 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.


Astronomical University Tuition Fees = a UK debt time-bomb?

About to choose a course at one of the UK’s Universities?  Worried about being mugged – you should be!  Our big, bad Government is about to saddle you with a massive debt to cover those Tuition fees.  Think its unfair?  Well we are up to our eyeballs in a debt that is growing every day and somebody has to pay for Higher Education – you!

America are a long way down this road, their students have always had to take loans out.  £600 billion is owed over there. That looks like £600 000 000 000, give or take a few noughts!  Not a problem if loans are paid off on time, but that is exactly the worry – about 6% of their graduates cannot afford the repayments. This is partly because of a high graduate unemployment rate.  They sit on a debt time-bomb and where America goes today we will surely follow.

So what does that matter to you? Well, this is a genuine plea to stop you from sleep-walking into a pile of distressing debt. There are options – buy an up and running Franchise business for a lot less than University loan and you won’t have to go grovelling for a job in 3 years time. Check out an apprenticeship or degree sponsoring employer – if you can find them.

Quite rightly many will opt for University, make sure that you take as much precise advice as you can. You are strongly advised to mistrust and ignore ‘lazy’ comments like these:

  • “Study what you most enjoy, having any degree gets the job not the degree subject.”
  • “Better prospects  with the Sciences or Engineering.”
  • “Graduates of all disciplines get the best paid jobs.”
  • “You are bound to land a good job in the long run if you have a degree”
  • “We’ve been here before – our country always pulls out of recession.”

These are comments from the 1980’s, when a degree was worth an unbelievable extra £400 000 after a lifetime in work. Get yourself better informed,  sharpen up your course search and get clued up with the real issues on this impartial  website.

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