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The current student debt situation in UK
Research by the Department of education and skills shows:
- Reassuring
statistics that 80% of jobs being created before the end of the decade will
be for individuals with a higher education.
- 80% of
graduates receive employment within their field of study less than four
years after graduating.
- A graduate
will earn 50% more in their lifetime than a non graduate proving the value
of a degree
- Student
Debts in the United Kingdom rose 18.7%last year, raising the total amount to
over £14billion
Information from Finaid shows that students with a higher level of education have taken more
student loans and are therefore in larger debt..
|
Graduate Education Debt |
All Education Debt
(Grad & Undergrad) |
Graduate & Professional Degree Programs |
Percent Borrowing |
Cumulative Debt |
Percent Borrowing |
Cumulative Debt |
Total |
60.1% |
37,067 |
70.1% |
42,406 |
Master's Degree |
58.4% |
26,895 |
69.3% |
32,858 |
Doctoral Degree |
51.0% |
49,007 |
58.3% |
53,405 |
Professional Degree |
86.5% |
82,688 |
88.4% |
93,134 |
MBA |
53.0% |
35,525 |
63.6% |
41,687 |
MSW |
76.5% |
27,136 |
81.0% |
37,029 |
PhD |
40.0% |
36,917 |
46.8% |
41,540 |
EdD |
53.4% |
49,050 |
65.7% |
47,725 |
Law (LLB or JD) |
87.7% |
70,933 |
89.7% |
80,754 |
Medicine |
95.0% |
113,661 |
95.0% |
125,819 |
BBC News
reporteded
- During 2005
students repaid £622.2m - more than a quarter of which (27%) was paid back
earlier than it needed to be.
- Families
earning less than £17,501 will be eligible for a grant of £2,700 a year,
which tapers away to nought on family incomes of £37,425
Natwest produced
outrageous figures stating that 2/3s of graduates move home after school to save
money and pay of their debts. |
