Anybody else regretting and feeling bad about encouraging their kids to go to uni?

[Gh0ststory]

The loans situation in the media has really made me regret encouraging them to go. I did encourage apprenticeships but wish I’d pushed harder and actively discouraged uni.

I completely agree, @PorkyHooton.

With DD, we encouraged her to think about what’s important to her in a career and also think five years, even ten years ahead to what she sees herself doing/would like to be doing. Then work backwards from there.

My eldest went abroad to avoid loans/debt. Second one will have some debt.

It is all so predictable. I was part of the generation that marched against both the Iraq war and student loans. It was all so predictable that when those with the big loans got to an age where they had some voice in the media/politics, this would finally be the big issue that it always was. It is all grossly unfair to burden the next generation with debt to access education and to keep feeding the old generation that sits on all the wealth/political power/votes.

Both of mine will be going in a couple of years but we will be doing everything we can to ensure they don’t have to take out loans.

Thankfully we can afford it as they already go to independent school so it just means that the school fees will go on uni tuition and living costs instead.

To be honest, I think Martin Lewis has a lot to answer for. He was actively pushing for everyone to take maximum loans whether they needed to or not for many many years.

Exactly this. Also, we weren't in possession of a crystal ball back in the early 2010s when they went to uni (one year after the other as they're close in age.) We didn't know that the Government would turn into loan sharks and rip off the young people like they have done, making the student debt DOUBLE what it was when they left uni a decade ago! Despite them paying 1000s of pounds off over the years.... Even Martin Lewis told people over and over again that student debt is FINE>>>>!!! 'DO NOT WORRY about it' he said! Yet, young people have been royally fucked over.

Also, the fees had just gone up from £3000 a year to £9000 a year when mine went, and I was angry and pissed off (as were lots of people after LibDems promised to dispense with Uni tuition fees, and then got together with the Tories and tripled them!)

So actually, DH and I tried to talk our 2 into getting 'normal' jobs because we were terrified for them. We didn't want them getting into so much debt like that. But they, and the college and the Government - and Martin Lewis - and many others in the media and press and so on, said 'it's not a real debt!'

Our 2 DC didn't care about the student debt. They still both wanted to go to Uni.

They now have the huge student debt.

DH and I have no regrets though, because they made the choice to go to Uni. As I said, we even tried to discourage them, but they are both strong willed and independent, and did what they wanted to do.

Nevertheless, they do both have very good careers (earning £75,000 to £85,000 a year, and not even in London!) and they would not be in this career (and on this salary) without the degree(s.) In addition, they only pay 9% of everything above £27,500 I think... They still pay a fair amount towards it, but because of their high salaries they don't notice it much/it doesn't affect them much. They actually don't seem that bothered by it. (DH and I are more bothered!)

And as I said, without the degrees they have, they would probably be on much lower salaries.

Surely though, anyone earning not much (even though they have a degree) wouldn't be paying much towards the student debt anyway....?

They do need to change the thresholds though!

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Uni has been life changing for my autistic son. Finally he's met his people, out socialising (still lives at home), his confidence has come on so much after years of being bullied at high school and best of all he's loving his course. He's found a part time job and learnt to drive. Things we never thought possible. He wasn't ready for the workplace at 18 but hopefully once he has finished his degree he will continue to thrive.

There is a level 7 Actuary degree apprenticeship.

I don’t think anyone can blame themselves for encouraging their children to go to university when the entire education uk system is so heavily focused on that pathway.
I took an online qualification as an adult (equivalent to a levels) with no intention of going to university (I’ve been, twice). A huge proportion of the course was preparing for uni, visiting university, writing about university plans and so on.
My child didn’t want to do a levels and studied an alternative creative qualification but again, it was really lacking in industry opportunities and simply all about preparing for university, in an industry where uni doesn’t accelerate opportunities any faster than other routes.
For school leavers, they are given advice about apprenticeships but school don’t emphasise nearly enough how competitive it is to find one, or that candidates with previous work experience are far more likely to be accepted than those with good grades and zero work experience.

There are under 50,000 people on degree apprenticeships and 2 million on Undergraduate courses. It’s extremely competitive, DS managed to get one and graduated last year, he had extensive work experience not related to the course. I used to be involved with University admissions as did DH and it’s a much tougher process. The work load is phenomenal. Multiple interviews, online tests and candidates attending application days to problem solve and team work together plus psychometric testing.

The success rate of being accepted on to a degree apprenticeship is less than 1%.

I think one of the most depressing outcomes of increased fees is that people don’t seem to value education for the sake of education anymore. Going to university is not just about what you might earn afterwards.

It doesn't matter though. The outcome is the same. If you don't earn enough from your degree to pay off the loan in 40 years it's written off so you aren't paying the same as someone in a high earning career. Universities get the money upfront though. Humanities and arts degrees subsidise sciences. Without the cheaper to run arts/ degrees the stem degrees will cost far more than £9k. Not to mention no one knows what jobs x are going to be needed in 20 years time. IT, when I went to Uni was there degree which was the big thing. Now they are out of date before they even leave. There is an argument for reducing the number of poor performing universities, and investing more in non university education, but that's been the case for about 40 years.

Well done him! Funny that the snobbery lives on.

Not remotely. I don’t give the debt issue a moments consideration and I’ve told my kids the same. A couple of hundred £ a month isn’t such a big deal

Please look at the option of a graduate apprenticeship. If I had my time again this is something I would have explored

I agree @CuriousKangaroo, but someone has always had to bear the costs of higher education.

Why cant we do anything properly in this country. Other countries seem to manage to give their young people quality training.

The L7 apprenticeships are being defunded because employers were using their levy to train older, existing staff with degrees rather than using the money to take on younger people just starting out. There is no point talking about apprenticeships if employers are not willing to take them on. It's not just employers fault. The economy is dead but neither is that the fault of young people who have been consistently let down when it comes to post 16 educational options.

Nope. Both mine are working in their chosen field which they would not be doing without their degree, so no regrets here.

@CuriousKangaroo 3 DC at uni here and all have complained about the quality of the education, lack of support, small amount of in person teaching time and nothing that equips them for the world of work in current times!

The biggest skills and learning are in communications and the opportunities that seem to work best for the most confident kids. Sadly I think there’s a higher number of uni students who are just doing OK and are too embarrassed to tell anyone otherwise!

My DS dropped other half way and is thankfully thriving in a job where he was hired for his attitude rather then academic qualifications and didn’t need a degree. His friends from uni are mainly in part time retail jobs or looking for work - very few have got graduate jobs after uni.

My degree was total BS (odd degree but a BSc) the degreee itself was a waste of time but it gave me the opportunity to work in America for a year on half uni costs, getting paid a decent wage, free accommodation and meals, and chauffeur driven. It also gave me something unique and interesting to talk about in interviews post uni that a lot of other graudated didn’t have. I ended up retraining in a fully funded “proper” specialism and think my proven ability to study helped secure that job as the courses was, not only fully funded, but I was also given full private accomodation, meals, travel and additional food costs.

in short, my degree was a waste of time from an education and learning point of view. But it did give me access to opportunities I otherwise would not have had which landed me an excellent career with a substantial salary (I had my student loan fully paid off after my second course in less than 5 years)

I'm struggling with this because we live in Wales, which I think is still plan 2. Degree apprenticeships are non-existent where we live though, and DD is more of a humanities person anyway. We have no savings so she will have to borrow the whole lot, including living costs. DS Is bright but less likely to want to go to uni.

I feel like it's going to be better for DD to go, have the education and experience and then get a modestly paid job to keep repayments manageable. At least this way, she'll hopefully have a decent work/life balance. It helps that my own background is working class, so our lifestyles are fairly low-key anyway.

I'll encourage them both to at least look into uni alongside work-based routes.

But were your borrowing on the region of the £70k approx that current students will potentially owe?

DD1 did an art degree and is employed as an artist, very specialised work that she needed the degree for. It was all she ever wanted to do so I think it was worth it (although obviously I too am very worried about the repayments etc)

DD is doing a vocational degree with practically guaranteed employment on a decent wage at the end. For complicated reasons (100% not wealth - that is for sure) she will come out with slightly less student loan debt than your average punter and a decent chance of paying it off quickly/ overpaying if she decides that makes sense.

My boy is younger and suspect will be out the door as fast as a hare out of a trap when uni days come around. But he also wants to do a fairly vocational course.

im less bothered about them accruing debt for degrees that are likely to lead directly into jobs. Otherwise, it’s a huge shame but, well, it is what it is unfortunately.

It’s a sort of ‘semi debt’ isn’t it? Not real in the sense it has to be paid back come hell or high water. If youre incapacitated no-one is chasing you down and getting a bailif warrant. But does take a chunk of your income each month, plus affects affordability calculations for rent and mortgage, etc.

I had a postgraduate personal loan. Now THAT was a bloody millstone around my neck for years.

Here, one child wants to do something you need specific qualifications for and if apprenticeships are available at all they’d be like gold dust so Uni it is. Another doesn’t know what she wants to do or study yet. The last one is too young to think about it yet, but if things don’t change I will not encourage uni, it will just be an option among others. I am more concerned about AI and the changes that will bring.

They could have waited forever for an apprenticeship that never happened

Then they wouldn’t have either degree or apprenticeship and would be getting older

So they might then have gone to uni feeling a bit odd being not of the usual peer group

Or lost the drive and ambition to go

And the further STEM education never happened

So many what ifs you can drive yourself nuts

@Gh0ststory they are at uni, they will have debt, can you help them pay the debt down? Even just a bit.

How do they feel about the debt? Have you talked to them?