What is the point of going to university, to amass such debt?
There are many reasons to go to university. Firstly, figures show graduates earn more money. The average wage of a UK graduate is as much as 35% higher than a non-graduate. Over a working lifetime, that can equate to a graduate earning up to £100,000 more|.
However, university isn't all about earnings power. Going to university can offer a student so much more. It can broaden their horizons, challenge them intellectually and open them up to a variety of cultural and social experiences. They will meet like-minded people, boost their employability and gain a sense of independence. The range of subjects and courses available at this level means your child is bound to find something that interests them.
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What is my child getting for this substantial amount of money?
The University of Bolton is a modern and professional university. It has strong academic and business links on a local, national and international level. It takes the educational, professional and personal development of its students very seriously and endeavours to provide the best experience possible. It offers a range of academic, specialist and vocational courses that will prepare students for employment and further study. Our multi-million-pound campus has only recently been completed, providing an extensive range of facilities for both learning and social events. The Bolton One project| is also located on our campus and will be completed in 2012. This landmark development will house state-of-the-art learning, health and leisure facilities for our students and the wider community.
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How can you demonstrate that coming to university is still value for money and will benefit my child's career?
As previously mentioned, on average a graduate will earn substantially more money in their working life than someone who did not go to university. It is also hard to put a price on the life skills and practical benefits students gain while in higher education. The skills a student learns on a degree are often essential to pursuing a successful career, whether this is in a specific field or in the wider job market. Communication skills, cognitive thinking, confidence, these are all attributes students can gain from being in a thriving, learning environment.
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University professionals/academics/VCs, etc. are well paid; why do they not take a pay cut/freeze?
The higher education sector is undoubtedly going through major changes and the cuts to budgets are substantial. The University of Bolton is no exception. All our costs are being scrutinised to ensure we provide the best value for money. We can assure you we will be looking at all possible avenues in providing your child with the best university experience.
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If these cuts to university funding are so significant, how do we know you will stay in business?
The University of Bolton is a thriving, new university which has doubled its student numbers in the past five years to 14,000. We are built on the foundations of delivering employer-focused education for more than 175 years, tracing our roots back to the Bolton Mechanics Institute, which opened in 1824.
The University of Bolton is confident in its future. While Government funding changes are putting 49 of England's 130 universities at long-term risk, according to the Universities College Union|, the University of Bolton was classified as being as financially secure as universities such as Bristol and Cambridge.
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Is higher education still relevant?
There are currently more than two million higher education students in the UK. Higher education courses are offered at around 130 universities and higher education colleges across the country as well as at many further education colleges. There are more than 50,000 courses in a variety of academic and vocational subjects. A university, or equivalent, education is viewed by many employers as a prerequisite when recruiting.
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Can my child do a degree at an EU university? Some universities in Europe are at least four times cheaper, maybe even six times cheaper.
Studying overseas may be a viable option and could benefit your child's study. However, it also brings with it a number of pitfalls to consider:
The distance – accessibility to your child will be harder if they are a plane journey away.
Hidden costs – while the prices of the courses/degrees may be cheaper, the living costs of some of Europe's top cities can be expensive.
Standard of study – there are some very good universities on the Continent but, undoubtedly, some are taking advantage of the current UK climate and rapidly piecing together 'taught in English' courses to capitalise on the possible influx UK students.
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Will the student loans my child takes out affect their ability to get a mortgage or other loans in the future?
The Council of Mortgage Lenders has advised that a student loan is very unlikely to materially impact on an individual's ability to get a mortgage. The amount of mortgage available may depend on net income. For other types of loan, it would be a decision for the loan provider, but it should be noted that Student Finance England will not share student loan information with credit reference agencies.
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