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.