The Real Cost Of Universities

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The time has come when school is finally over and you need to make one of the most important decisions in your life – what are you going to study at university? What career do you want at the end of education and what training do you need to achieve it? Are you going to take a gap year to earn some cash to set you up for university?

Identifying what you want to study can sometimes be a no-brainer and an easy decision for some, especially if you have desired a specific career for some time. However, it seems that many students are unsure of what they either need to study for a given career, or are uncertain about what they want to do in the future. Now that students are having to pay hefty university fees to further their education, the increasing concern over building debt at such a young age, is perhaps a key factor in decision-making.

What to Study?

Studying a subject such as a business degree would train you in most aspects of business, adequately equipping you to work in several professional institutions or environments to start your successful career. Some subjects such as theatre studies or music would probably only set you up for a role in the arts industry. If you’re interested in building your career in a certain vocation, then choosing a degree or further education in that specialised area is the right thing to do.

Get in Control of Finances

College courses and degree fees vary enormously depending what you want to study. University fees have tripled since 2012 and there has been a noted increase of £250 this year, meaning that on average students will be in debt by around £27,750 at the end of their education. Most students are filling their out of hours with part-time jobs to ease the financial pressure while they study. Of course, there is much need for getting a careful balance, so that earning an income does not affect coursework and home study.

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How Much Does Your Degree Really Cost? carried out a recent study to identify how much your degree costs, broken down in to an hourly rate spent in the seminar room at university. They researched how much a degree costs and whether it’s value for money. For example, a degree in nursing costs £8.63 per hour based on 26 hours in the classroom per week. A student studying a language will pay an average of £27.50 per hour and a student studying biology will pay £18.10 per hour based on their weekly learning hours.

Weigh up The Pro’s and Con’s

Autumn graduates, Image source Flickr

While you can see that the hourly rate varies hugely, it seems the arts subjects are even more expensive. A degree in literature costs on average £38.50 per hour and the research reveals that students who study an arts degree, including English, theatre or history – will be paying over 3 times the amount than a student studying a science subject!

The research established that although many students find education in the arts perhaps the most attractive and inspiring, a degree in business or science would not only cost you less, but be more valuable in the long-run, opening up bigger opportunities at the end. For students who just go to university for the fun and social side, it would be worth thinking twice about missing lectures after a late night out, especially when it’s potentially costing you around £50 per time!