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Discussing value for money on a free degree aside, I'd argue that the value of an EE is immense. I graduated last year studying EEE at a UK red brick uni, had t

Discussing value for money on a free degree aside, I'd argue that the value of an EE is immense. I graduated last year studying EEE at a UK red brick uni, had the best time of my life, and learned a good number of skills that have come in handy in the last year having been employed as a professional engineer. The debt question, at least in the UK, is more academic than anything - I'm currently earning 30k a year (which is already more than I need to live comfortably) and I'm paying £20 a month back on my loan. In 30 odd years the debt will be wiped off and given that you only pay back 6% of income above 27k it's not really like you'd ever notice it. FWIW my friends that went to uni and ended up with non-vocational degrees are earning around the 20k mark if they're working full time so chances are they won't even get close to having to consider their student loans for a good while. In terms of the specifics I learned on my degree I would have to agree that not much of what was taught is actually helpful in my career but having four years to mature as a person, especially in an atmosphere where you're surrounded by other people who are happy to discuss engineering and related projects, has helped in a way I could never put a price tag on.

hughrr 5y ago
That debt is only part of the student finance picture. It’s difficult paying off a credit card, overdraft, commuting, potentially car insurance and rent at the same time. That £20 is a fairly significant amount of cash when you’re in that position. Most people end in that situation and some never escape it. My daughter is hoping to study medicine next year. That’s going to be interesting on the finance front.
- owlbite 5y ago
  The UK system is more of a graduate tax than a loan unless you're lucky enough to get a seriously well paying job (at which stage you probably don't care).
lovich 5y ago
Are UK salaries really that low? I checked the current exchange rate and £20k is what you can get working a minimum wage job at not even full time hours
- mmarq 5y ago
  A full time job on minimum wage will pay ~18500£. £20K pa is the salary of an entry level not qualified accountant in London (my partner’s first salary some years ago) or of a bar tender. In London, a decent developer may earn in the low 6 digits as an employee. A half decent flat would cost in excess of 2000£ per month, so £20K pa is a very low salary in London. But if you remove London and 2-3 university towns, what is left of the UK is more similar to an Eastern European country than to Germany or France. Salaries are extremely low, but cost of life is low as well.
zarzavat 5y ago
The repayment terms are not set in stone though, the govt can change it at any time. Also if you want to leave the uk and live somewhere else you are in for a world of hurt.

hughrr 5y ago

That debt is only part of the student finance picture. It’s difficult paying off a credit card, overdraft, commuting, potentially car insurance and rent at the same time. That £20 is a fairly significant amount of cash when you’re in that position. Most people end in that situation and some never escape it. My daughter is hoping to study medicine next year. That’s going to be interesting on the finance front.

owlbite 5y ago
The UK system is more of a graduate tax than a loan unless you're lucky enough to get a seriously well paying job (at which stage you probably don't care).

lovich 5y ago

Are UK salaries really that low? I checked the current exchange rate and £20k is what you can get working a minimum wage job at not even full time hours

mmarq 5y ago
A full time job on minimum wage will pay ~18500£. £20K pa is the salary of an entry level not qualified accountant in London (my partner’s first salary some years ago) or of a bar tender. In London, a decent developer may earn in the low 6 digits as an employee. A half decent flat would cost in excess of 2000£ per month, so £20K pa is a very low salary in London. But if you remove London and 2-3 university towns, what is left of the UK is more similar to an Eastern European country than to Germany or France. Salaries are extremely low, but cost of life is low as well.

zarzavat 5y ago

The repayment terms are not set in stone though, the govt can change it at any time. Also if you want to leave the uk and live somewhere else you are in for a world of hurt.