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Young People 'reject University To Avoid Debt'

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http://www.moneyhighstreet.com/news/181844...+avoid+debt%27/

Young people in the UK are increasingly finding their options constrained by worries about debt, a new report suggests.

Alliance & Leicester found that 43 per cent of people aged between 16 and 24 said that concerns about debts accrued while studying at university stopped them continuing their education. A further 26 per cent said that they already knew that they could not afford to go university.

However, the study also revealed that young people expect to stay out of debt during their life. Nearly a quarter (24 per cent) think they will be able to earn twice the national average salary within a decade.

As a result, 32 per cent of young people believe they will be debt-free by the age of 35.

"These days, young people have high financial and lifestyle aspirations and getting on the career ladder early can be the quickest way to achieve their goals for many," explained Helen Palmer, a current accounts manager at Alliance & Leicester.

"As a group they recognise the growing trends of graduate debt, and in contrast the potential advantages of going straight into employment."

Recently, a spokesperson for the charity Credit Action, said that student loans helped encourage a culture of debt among young people.

Can we blame them? Why go to uni & end up having left out of housing market with thousands of pounds debt when you can flip a couple of homes a year to make profit and do BTL to secure your pension?!

It is sad when young decide not to go for higher education purely for financial reasons. Starting your career with -£30K can't be easy so I can't blame them for refusing to become a 'debt slave'.

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Guest Marvin Bush

Builders are the new graduates darling. Plus some of it can be cash in hand innit?

What do most grads do? They do the jobs that A-levels or persistance and potential used to be enough for.

I got one. A good one. But I am just an also rangotang. What's the point of an ok wage if an ok wage can't afford to keep an ok roof over an ok family?

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Average Student Debt + Average Graduate Wage = 9% Grad tax on all earnings above 15 k for a long long time

Who can blame them.

Just shift all the debt down the generations... they are getting used to it now.

(Feel free to use the top line in your footers, i think it is a good quote myself)

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http://www.moneyhighstreet.com/news/181844...+avoid+debt%27/

Can we blame them? Why go to uni & end up having left out of housing market with thousands of pounds debt when you can flip a couple of homes a year to make profit and do BTL to secure your pension?!

It's the free-market in action, correcting the politically-driven expansion/dilution of higher education. I hope you're wrong about their aspirations though: if they're dumb enough to believe that becoming a property tycoon today will free them from debt, then no university should admit them in the first place.

Recently, a spokesperson for the charity Credit Action, said that student loans helped encourage a culture of debt among young people.

Students and debt went together even in the days of free tuition and full maintenance grants, but at least it wasn't every student and the ones who got into debt at the end of the year used to worry about it. Student loans were bound to change the acceptance of debt. Who knows, maybe that was part of the plan--be an obedient little consumer, go into debt...

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Guest Marvin Bush
lol. You're unlucky not to be a baby baboomer. :)

Or Tarzan, Landlord of the Jungle!

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The are WAY too many people going to university anyway, so a few less is a good thing. Surely no more than 25% of the population end up in a job where they put degree-level knowledge and techniques into practice on a daily basis?

The shame is that it is not the cleverest, most determined 25% that will end up going, but the 25% with the richest parents.

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Students and debt went together even in the days of free tuition and full maintenance grants, but at least it wasn't every student and the ones who got into debt at the end of the year used to worry about it.

Sure, but when I was at university 'debt' meant a few hundred pounds at the end of the year (maybe the equivalent of a thousand in today's money) that you worked through the summer to pay off. Not tens of thousands that you'd be paying off for years.

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The are WAY too many people going to university anyway, so a few less is a good thing. Surely no more than 25% of the population end up in a job where they put degree-level knowledge and techniques into practice on a daily basis?

The shame is that it is not the cleverest, most determined 25% that will end up going, but the 25% with the richest parents.

We need to get everyone into university to propel our knowledge economy that YOU were banging on about the other day. :rolleyes:

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Guest Marvin Bush
It's the free-market in action, correcting the politically-driven expansion/dilution of higher education. I hope you're wrong about their aspirations though: if they're dumb enough to believe that becoming a property tycoon today will free them from debt, then no university should admit them in the first place.

Most people go their entire lives without really questioning the integrity of the media or knowing that 95% of our money is created as debt i.e. banks lend us money they do not have.

We are mostly all blessed with optimism and a desire for things to write themsvles. We want to believe that people who have wronged will by righted if not smited. We want to believe we can and will have the modest detached house with the picket fence for our sexy spouse, 2 children, and dog. Unfortunately that dream isn't available to as many people nowadays, but you can't blame the young 'uns for not yet realising that they will unlikely own what their parents owned.

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The are WAY too many people going to university anyway, so a few less is a good thing. Surely no more than 25% of the population end up in a job where they put degree-level knowledge and techniques into practice on a daily basis?

The shame is that it is not the cleverest, most determined 25% that will end up going, but the 25% with the richest parents.

Nice theory. However without a degree for most people their pay ceiling will be well under 20k. Even with a degree many will struggle to earn a living wage.

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The are WAY too many people going to university anyway, so a few less is a good thing. Surely no more than 25% of the population end up in a job where they put degree-level knowledge and techniques into practice on a daily basis?

The shame is that it is not the cleverest, most determined 25% that will end up going, but the 25% with the richest parents.

At last! A return to the good old days! ;)

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Guest Marvin Bush
I spoke to a young graduate I know and he said "Excellent less competition for me".

His name - Euan Blair

Who is now at Yale 'Skull & Bones' University on a $50k scholarship.

It's amazing the doors an unremarkable 2:1 degree from a Welsh university can open.

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I spoke to a young graduate I know and he said "Excellent less competition for me".

His name - Euan Blair

I'm sure daddy will get him a job at accenture

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Guest casaloco

2 big reasons ConservoLabour has been pushing more people in nui:

1) Keeps them off the dole figures for 3 year... they've even gone as far as PAYING kids to go to 6th form

2) People at uni tend to move out of their parents home and rent a place near uni... thus ramping up house prices

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I went to University at 22....

I had no a-levels so I did the foundation year

No support from my Family

Did a proper degree in Electrical Engineering at Brighton....

Worked full time on top to pay for my flat, food, and car.

Took a year out and also got my 16th edition for electrical installation

Started a company in my Final Year..

Came out with a 3rd in Electrical Engineering. City Guilds 16th Ed

16,000 Profit in the bank.

I partied alot in the first 2 years. In the final year it was head down...

To all those students that winge about money..

Get a evening job, don't get envloved in long term relationships, Turn up to every lecture, Turn up to your job.

If it I had it easy, I probably would of partied more. Rather than working in the evenings.

If I had got a job at 22 and bought a 2 bed house for 85K... I would of made a lot more it seems...

;)

Edited by 234SALE

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Hey - y'all have overlooked the part of the survey that revealed a quarter of 16-24 year olds expected to be earning twice the national average within a decade... what was that about Britons being financial fantasists?

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It's the free-market in action, correcting the politically-driven expansion/dilution of higher education. I hope you're wrong about their aspirations though: if they're dumb enough to believe that becoming a property tycoon today will free them from debt, then no university should admit them in the first place.

Recently, a spokesperson for the charity Credit Action, said that student loans helped encourage a culture of debt among young people.

Students and debt went together even in the days of free tuition and full maintenance grants, but at least it wasn't every student and the ones who got into debt at the end of the year used to worry about it.

Of course I am wrong about their aspirations but, if not the students, there are many out there in today's miracle economy who are dumb enough to believe that becoming a property tycoon or just a simple couple of BTL, will make them rich and enable a secure pension. Student & debt of course went together but not at today's unsustainable level to make them debt slave for long time.

We want to believe we can and will have the modest detached house with the picket fence for our sexy spouse, 2 children, and dog. Unfortunately that dream isn't available to as many people nowadays

Forget about 2 children & dog as long as the dream of detached house & sexy spouse comes true we'll be alright :lol:

Edited by It is different this time

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Warning: am feeling jaundiced and cynical, having been in an 8 1/2 hour 'mitigating circumstances' meeting ...

If the cost deters students who aren't up to it in the first place, WHEEEEEEEEEEEEEEEE.

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Hey - y'all have overlooked the part of the survey that revealed a quarter of 16-24 year olds expected to be earning twice the national average within a decade... what was that about Britons being financial fantasists?

Yeah but the other three quarters will be either unemployed, running up debts at university or working in rubbish jobs. :(

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Who needs to spend 3 years at university when you can just spend 12 weeks on TV and get a hundred grand a year job with Sir Alan Sugar.

..........although some 18 year olds probably think that their degree in media studies will net them even more!

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Great plan

A-get 50% of school leavers into Uni.

B-Have nowhere to house them.

C-Encourage BTL (often student s parents) to do job-vastly inflating price of local housing.

D- Lay waste to whole swathes of towns with student ghettos.

E- Have graduates in vast debt unable to buy house because of above.

F- Resign and hand it to Gordon Brown to sort out

Genius.

Edited by hankdd

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I went to University at 22....

I had no a-levels so I did the foundation year

No support from my Family

Did a proper degree in Electrical Engineering at Brighton....

Worked full time on top to pay for my flat, food, and car.

Took a year out and also got my 16th edition for electrical installation

Started a company in my Final Year..

Came out with a 3rd in Electrical Engineering. City Guilds 16th Ed

16,000 Profit in the bank.

I partied alot in the first 2 years. In the final year it was head down...

To all those students that winge about money..

Get a evening job, don't get envloved in long term relationships, Turn up to every lecture, Turn up to your job.

If it I had it easy, I probably would of partied more. Rather than working in the evenings.

If I had got a job at 22 and bought a 2 bed house for 85K... I would of made a lot more it seems...

;)

Well said!!

Similar situation here. No finances from parents, working my way through uni, recently started a business and far from being a student in debt.

Unfortunately many on here will belittle your hard work and bring up examples of lazy students with corroded livers who leave with large debts ........... and then expect us and others to feel sorry for them!!!

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