What's a University Education Worth?

Every year, it costs British students more and more to attend university. Students are graduating with larger and larger debts. So is a university degree really worth it? 

In 2006, the UK government started to allow universities in England and Wales to charge British students tuition fees. As a result, more than 80% of students in England and Wales now take out a student loan in order to go to university. They use the loan to pay for tuition fees, books and living expenses. Although the interest on student loans is quite low, it begins as soon as the student receives the loan

The average student in England and Wales now graduates from university with debts of around £12,000. Students of medicine, who study for longer, usually have debts of more than £20,000. That is a lot of money. It means graduates cannot afford to buy a house for many years. They even struggle to pay rent on a flat, because they have to start paying back the student loan when they reach the April after graduating (or after leaving a course). If you start to earn over £15,000 a year, the government takes repayments directly from your monthly salary. Is it any surprise, therefore, that the average British person does not leave their parents’ home until they are 30 years old?

You might think that a British person with a degree will find it easy to get a well-paid job. However, most people in “white-collar jobs” seem to have a degree these days, so there is a lot of competition. Also, British companies tend to value work experience over a piece of paper. Like everyone else, graduates usually have to start at the bottom and work their way up. That can be very frustrating for them, since they are often over-qualified for the work they are doing. While at university, they had dreams of getting an exciting, challenging job. Therefore, life after university ends up being quite disappointing for a lot of graduates. 

Forecasts are that there will be fall of 6% in the number of 18-25 year-old university applicants across the UK. Students have always been seen as not having a lot of money, but “student poverty” is now considered a real problem in the UK. Most British students expect to get a loan, part-time job or summer job. Worse than that, however, is the fact student leaders report there are increasing numbers of students turning to crime to support themselves financially.  

By contrast, things are now easier for students from other countries coming to study in the UK, since the value of the British pound has fallen. More international students come to Britain each year. The British universities offer more and more of the available places to richer international students rather than poorer British students. Some British people fear that, one day, there won’t be any university places left for British students at all.

After reading:

 Study the vocabulary:

 

  white - collar jobs -конторские должности; чистая работа (работа в учреждении); служба в учреждении

university applicants -абитуриенты, поступающие в колледж...

II. Decide if each of the statements about the text are true or false.

1. More than three quarters of all university students in England and Wales borrow money to study.

2. Students tend to buy a house soon after graduating.

3. Paying back a student loan is always voluntary.

4. A degree gives people an advantage when applying for white collar jobs.

5. Graduates often feel their first job doesn’t live up to their expectations.

 6. Numbers of British university students began to decline after the credit crunch.

7. Students sometimes break the law to finance their studies.

8. More international students are coming to Britain because the UK currency is weaker.

 III. Match the words and phrases in the table (A-J) to the definitionsfrom1-10 below.  

a. challenging	b. having a career
c. interest	d. repayment
e. salary	f. struggle
g. student loan	h. summer job
i. tuition fees	j. wage

 

1. diffcult but rewarding

2. extra money paid on a loan or bank savings

3. fight

4. getting a better job or salary within a company over time

5. money a student pays to a university

 6. money borrowed from a bank or finance company

7. money paid back on a loan

 8. money paid for a week’s work

9. regular monthly or annual pay packet

10. work between academic years

 IV. Complete the sentences using vocabulary from the previous activity.

1. We will lend you £3,000, which you will need to repay with.................... of 3% after three years.

 2. Paying my fees every year has been a constant.....................

3. With such a small loan, I don’t know if I’ll be able to pay the.....................

4. I’ve got a good job, but I just wish the work was more.....................

5. When term ends, I’ll have to get.................... just to make ends meet.

6. The.................... is £140 a week, but it’s cash-in-hand, so you don’t pay tax.

V.Answer the following questions:

1) What happened in2006 in the UK?

2) What is the percentage of students in the UK that take a student loan in order to go to university?

3) What is the debt of the average student in England and Wales who now graduates from university?

4) What debts do medical students have after graduation?

5) What can’t a lot of graduates afford themselves after university and why?

6)    What dreams did students have while at university?

7)     What do British companies tend to value?

8) Why does not the average British person leave their parents’ home until they are 30 years old?

9) Why is it difficult for a British person with a degree to get a well-paid job?

10) Why life after university can be very frustrating for young people?

11) What are poor university students turning to and why?

12) What do some British people fear?

 VI. What do these numbers from the article refer to?

Give examples!

2006	80%	£12,000	£20,000	£15,000	6%

VII. Spelling: Unjumble the words in bold

1. student onal

2. nutiiot fees

3. hcanlelgign job

4. university papnliatc

5. work xeernpiece

6. student vpoetry

7. living peexness

VIII. Read the article and fill the gaps with these extracts

a)    As it is, with the current virtually non-existent level of financial support in this country, students already often have to take out loans to pay for general living costs.

b)    many graduates have to accept positions which are not challenging or well-paid.

c)    and most accept that they should pay something towards the benefits they receive from a university education.

d)   but the proposed increase is too much.

e)    The intended increase in university fees has come at the wrong time.