From: Edmund Grech (edmund@arclightentertainment.co.uk)
Date: Sat May 11 2002 - 17:46:12 MDT
> You seem to be saying that there's a huge market for student loan
> services in Britain. If there isn't (in your opinion), why?
Of course; everyone who goes to university takes out a student loan - rich
or poor.
If you're poor and want to go to university you have no choice, receiving
between £3000 and £4000 a year ($4392 - $5856) bearing in mind that the cost
of living even for a student is quite high. Average acommodation is £100 a
week plus an average £1000 in tuition fees a year, then add the cost of
food, and books of which you need many and usually start at £50 for any
technical subject. This quickly adds up to more than the loan (do the math)
which means that in addition to full time study you're going to have to hold
down a job, and you'll probably still have to wear one set of clothes and
lose an awful lot of weight.
If you're rich it's a cinch - your parents pay for everything and you put
your loans each year into an investment fund or high interest account. At
the end you pay off the loan and make a tidy profit!
Remember that this is a loan, so as soon as you start your working life you
could have upto as much as £16,000 ($23,425) back to the government; this is
taken automatically out of your wage packet until its paid off - bearing in
mind the best paying job you can hope to get will initially pay at most
£25,000 a year.
And this is all for a Master/Bachelor degree, pin on more years and money
for a PHD.
Edmund
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