Issuu on Google+

University Fees: All you need to know I

n May 2010, The Liberal Democrats promised to “scrap unfair university fees”, in an attempt to lure the younger citizens to vote. And it worked. However, on 9th December 2010 the coalition government approved plans to allow universities in England to charge tuition fees of up to £9,000 per year. Some promise ay.

4

By Josh Hitchcock

What does this mean for students? The current charge of tuition fees at £3,290 a year, in addition to the maintenance loan, leaves the average student around £23,000 in debt once they graduate. A figure which is pretty daunting itself. Yet once the government introduces the increase to fees student can expect to be considerably worse off. Students will only begin to repay their loan once earning £21,000 a year. But how long will it take to pay off your student loan? Well, the average graduate wage of around £49,000 per year would take roughly 26 years to clear their debt. So if you are 21 years old when you graduate, by the time you gain


LazyP_Page6