Thursday 9 December 2010

Tuition Fees

The average salary in the UK for non graduates is £23,088 a year (http://bit.ly/fH6CNL) and £28,860 for graduates . Once you have taken away income tax, national insurance, council tax (based on the current UK average of £1440 a year) and paying off a student debt of £40,000 (plus 3% interest and inflation currently 3.2%) equally over the new 30 year period this would leave a net salary of £19,326.59. Whereas the average person after everything other than the tuition fees loan would have a net income of £16,414.92. That means a graduate is earning £242 a month more than a non graduate. In the current economic climate most people would bite your hand off for that kind of money as well as 3 more years in education.

So why shouldn't people pay for that privilege? Especially as the current COALITION government (not solely the Lib Dems) have decide to severely reduce their support for UK higher education. For universities in the UK to maintain their 'world class' rankings that money needs to come from some where, and why not the students?

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