So tuition fees are increasing. Will this change your DC’s thoughts on university

[user7654263]

It’s much needed for the sector but with tuition fees increasing and accommodation being eye wateringly expensive will this change your DCs view on university? It’s so expensive and the interest in student loans starts from day one so racks up really quickly.

I feel grateful to have gone in the days of grants but have one at university and one in year 13 and it’s really something you need to evaluate carefully to see whether it’s worth it.

I still suspect it won’t be enough to save the universities that are on the brink of collapse unfortunately.

Is this definite?

Reported in the times on Saturday (front page) so I think so. Unless I didn’t read it properly

Yes government has announced it. Going up to £10500 per annum rising in line with inflation.

The trouble is so many jobs want a degree even if one isn’t needed, it’s a CV sifting tool.

If it's not definite, it's inevitable in the next few years as the financial situation of universities is becoming untenable and the gov does not have the money to bail them out.

We live outside the UK and to be honest we are looking at non-UK options, as the overseas students' fees are just going to get higher and higher. I sympathize with UK universities, though, it is a very hard situation for them.

The Guardian reported last week that universities wanted £12,500, in return for capping foreign student numbers. If they're only getting £10,500, I wonder what will happen with that.

we are currently in the US, and state universities are often cheaper than home fees in the UK now. And the poorest students qualify for a Pell grant. UK news tends to only report the eye watering fees at the most expensive private universities, which no-one pays unless they are wealthy. The last I read, English student debt was higher than American, though the British repayment arrangement is better. It's absurd. (Most of the massive totals you hear about are for postgraduate study, particularly professional programmes like medicine.) This isn't to talk up the US -- simply that if the US is doing better, then things in England have gone badly wrong. My oldest DC got financial aid to one of the more expensive universities and we are paying less out of pocket than we would in England.

I actually see it from both sides since as well as working for a university I have dc of that age.

my university is very highly ranked (top ten). This will still mean we make a loss on every Uk student and it won’t happen swiftly enough either.

I think the increase was inevitable honestly doubt many people will be surprised.

My dd will do a degree - she is good enough for Russell group - but ds will probably not. They will both get the same “pot” of money from us, and we will help ds invest some of it in training or starting his own business.

It’s going to be fascinating to see how their life chances develop in a rapidly changing world of AI. I did a degree and now I’m in my 40s I yearn to do something unrelated to my profession. I wish I had the courage to try but I’ve got to save money to cover those uni fees!!

was a start date mentioned? Affect new or existing students?

I’m not surprised either. Not sure the increase to £10500 will make a huge difference to universities but I think it will make potential students and parents think twice. The problem is there’s few other options as a op states everywhere asks for a degree regardless if actually required. Apprenticeships at degree/higher levels are very rare. I think what it may do is encourage students to choose universities closer to home in a bid to decrease the ‘debt’ / grad tax. I’ve no clue how that will impact the universities re accom income.

It suggested gradually over the next few years.

If they're going to increase fees in line with inflation, they also need to increase the maintenance payments in line with inflation and make it a grant not a loan

They have also announced partial grants for the very poorest of students just to offset the increase.

the tuition fee loan will increase too (not sure why it would affect the maintenance loan)

I doubt the maintenance loan will change. It needs to as a lot if parents are having to sub their kids circa £8k a year! Reading many of the threads on MN, a lot of parents ‘give’ their kids the loan (esp if minimum loan @£4k) for their spending and pay the circa £8k rent per year. The loan shouldn’t be means tested either. Everyone should be offered the full amount and decide whether they want it all or not. BUT my idea would mean everyone received £10k maintenance loan & £10k fee loan per year. So a debt /grad tax of over £60k which I also think needs to be paid back. I think certain professions (in social care, health, & education) should be heavily subsidised and/or written off after the grad has worked in the U.K. for a set number of years.

I wonder if it is really fr 'capping' overseas student numbers. The truth is - foreign student applications have dropped steeply in recent years. Forgeign students don't feel welcome here. Unis survive on the income from foreign students, and if the numbers reduce by even 5% they are unviable.

Yes it's not about is a degree required ie doctor, lawyer etc roles where a decree is needed.

Most higher paid jobs require people to be educated to degree level even if a degree isn't required for the role.

A lot of mid level jobs will state degree as desirable so those either a degree will have an advantage.

I earn 25k my job had degree as a desirable in the person spec. Is it worth getting into 70/80k date for a 25k job?

*with a degree

*70/80k debt

Many more kids will start going to local universities and continue to live at home.DH and I did this in our respective countries and we still had a great experience.

My kids are 2.5 and 6m we will not be encouraging university unless they are pursuing a very specific path whicjh required study and we believe education is important / probably could be considered "pushy" by some.

Sadly uk University for most people is now a tax trap and our kids cant afford to be wasting 3-4 yrs to be saddled with debt

My dh and i both believe this and had the "benefit" of payingtens of thousands attending oxbridge and RG unis.

My DS wants to be a civil engineer, so a degree is essential, and a master's to be a Chartered Engineer. He is very aware of the debt and so is looking at universities close to home.

I'll retire and downsize the same year so I'll probably pay half his fees for him. Hopefully his df will pay the rest.

Or I'll move to close to the university of his choice for four years. We'll find a way.

No need to pay fees direct. It's not a loan in terms of you're being chased by a bank. It's essentially a graduate tax.

Foreign student numbers have dropped because there are restrictions on how many hours they can work during term time, and more recently because most are no longer allowed to bring dependents with them.

At a ludicrous rate of interest.

My DC is living at home while attending a local university. That saves a lot of money!

A google for "Tuition Fee Increase" news just cones up with a couple of right-wing-press articles which have the words "could" and "might" discretely tucked in where you might miss them, with more politically neutral sources just reporting that various think-tanks and representatative bodies are continuing to call for something to be done about university funding. I don't believe there's been a proper policy announcement yet but I don't doubt that one will be happening soon. When it happens I would expect that to be made joontly with a set of other changes to ensure the impact doesn't fall on the most vulnerable. In general tge most noisily-protesting people affected by a new policy are rarely the most vulnerable.

There’s no interest for Plan 5, the current loan system, it’s just in line with RPI as far as I’m aware.