During my PhD (many years ago, so these figures are outdated) I was paid a stipend of £16k to teach undergraduate students who, upon graduation, were going to j

During my PhD (many years ago, so these figures are outdated) I was paid a stipend of £16k to teach undergraduate students who, upon graduation, were going to jobs paying £40k. None of my PhD student peers had billionaire parents - but they almost all had parents who were reasonably well off. None of us had to rely on handouts from our parents, and none of us had loads of disposable income - but we all had a safety net. The undergraduates who grew up in poverty and went to university to improve their lot in life? The £40k job offer represents financial security. It was rare that they'd forego that.