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23 May
Student debt for a degree, is it worth it?
Student debt for a degree, is it worth it?
by SoftwareGuru Last year the government agreed to raise tuition fees, which saw fees rise from on average £3,000 a year starting in 2011 to on average £7,500 in 2012. The Guardian UK covered this with the main points: - Universities have submitted their 2010 tuition fees plans and it has emerged that every university in England is planning to charge at least £6,000 a year.
- More than two thirds expect to charge the £9,000 maximum fees for some or all courses.
- Fees are paid when students graduate and start earning £21,000 a year.
- If the debt isn't cleared in 30 years, it will be wiped out.
- Grants are available to help students and universities are supposed to offer students more financial aid than ever before.
Facing up to these challenges poses many questions. Is is really relevant or necessary to have a university education? Is it worth getting in to debt for a degree? Isn't there a cheaper way to educate the next generation of students with the skills they really need? Until these questions are addressed we can conclude that student debt is a necessary evil and one that must be carefully managed so as to minimise it's impact until a better solution is found.  Student financial survival
At Software4Students we continue to provide students and their families with not only the best savings on software but also advice on surviving financially through college.
We always advise to create your own student debt survival guide to trim expenses and find savings across the entire lifestyle board. So here are our tips to saving £££'s!
Think Long term
Don't get carried away in the SU bar as soon as your student load hits your bank account. It looks like a lot of money in September but when rent gets paid, books are bought, it's not long before that balance will shrink.
Utilities
Shop around for competitive offers on household utilities, ask for student discounts and check all providers before making your decision.
Banking
With the current state of banks, it can be a blessing in disguise as they become more competitive with student products. Compare the interest rates, overdraft facilities, credit cards and loan options. Register for phone and internet banking so you can keep on eye on your accounts easily.
Student Discounts
More and more retailers are offering students discounts for clothes, gym membership, cinema tickets, meals etc. Take advantage of these offers, arrange your social life around these offers and you will see the difference in your bank balance. Don't be afraid to be a geek!
Don't be afraid to use software programs to create your budgets. Excel spreadsheets can be a great way of keeping track of your spend and budgeting.
While we can't do anything about the hike in University tuition fees, we will continue to offer students the best software with the biggest savings to make life that little bit easier. Check out our Microsoft Student Software Offers and more!
Buy Microsoft Excel 2010 today as part of Office 2010 for only £37.89 - limited time offer.
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Student debt for a degree, is it worth it?