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Confusion and Panic: Can Students Make Sense Of Tuition Fees?

Political spats and student protests remain the focus of attention when it comes to the rise in tuition fees.
Education, Finance - 27 September 2011   Download IconContent available for download:  
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This month has seen UCAS begin the university admission countdown for prospective students. Last year, UCAS saw a record 384,649 students accepted into university; potentially made up of students eager to miss the tuition fee price hike. The 2012 autumn semester is already fraught with uncertainty and apprehension over the rise in tuition fees as some university’s plan to charge £9,000 per year, with students and parents unaware of the reality.

Myths, panic and confusion about the 2012 student finances are wide spread, but students and parents need to be aware of the facts before making a decision. Under the new system, the repayments kick in when the graduate begins to earn £21,000 (compared to £18,000 previously) and if the debt is not completely paid off after 30 years then it is wiped. Those earning above the £21,000 threshold will actually have £540-a-year more in their pockets than graduates repaying their loan under the current system.

As well as earning up to £100,000 more over a lifetime than their school leaver counterparts, 89.9% of graduates either go on to employment or further study and are less likely to be made redundant. The skills, knowledge and attitudes that graduates learn at university are critical to success. Furthermore, latest research has shown that graduates are less likely to suffer with depression, less likely to smoke or become obese and are more likely to vote in elections and help with their children’s home work. Interestingly, graduates also have a higher sense of well being and over three quarters of non graduates felt they had missed out on once in a lifetime experiences due to not going to university.

. Introduction:

The 2012 UCAS application process has opened in a flurry of controversy, panic and confusion over the rise in tuition fees. The media has focused its attention on reporting political spats and student protests, which has meant that potential students and their parents have been left in the dark about how the fees will actually affect them into their university careers and throughout their lifetime. Students might not be aware that under the new system they will repay less per week than current graduates and have their debt wiped after 30 years.

So, amongst the confusion and tuition fee myths, how will the rise really affect the first wave of students to go through the new system?

Joining us to discuss this further is Professor Michael Thorne, Vice Chancellor of Anglia Ruskin University

. Suggested Questions:

How many UCAS applications were there in our area last year?

What is the reality with the rise in tuition fees – how will the average student really be affected?

Is the value of university education really worth the extra money?

So, what are the other benefits of going to university?

What advice do you have for students who are unsure whether to apply to university this autumn?

Where can we find out more information?