This year's freshers university students appear to have a realistic view of what it may cost to comp...
This year's freshers university students appear to have a realistic view of what it may cost to complete and pay for a three-year degree, suggests the latest research from NatWest, as students expect to pay around £20,000 in living and course expenses.
A study of anticipated university costs among the 2003 freshers students discovered that the level of expected debt among students has risen roughly £1,300 since last year and graduates could leave university with debts of over £10,000.
Exact cost of going to university is in fact very close to the students' estimates as they will have to find living costs - such as rent, food, clothes, entertainment, mobile phones, books, etc - of £19,408, once £3000 is added for three years of tuition fees (at £1000 per year).
Just over 40% of students also say they expect to have to work part-time in a shop to help finance their studies, to hopefully earn an extra £70 per week or £2,240 per year.
That said, evidence also indicates that financially, it may be worth completing a course as graduates earn around 50% more than those who did not go to university at £18,411, according to Graduate Prospects.
At present, there is evidence to suggest the average graduate starting salary has fallen slightly from £13,422 in 2002 to £12,659, along with an 8% decrease in the number of graduates who are able to find work before they finish their course.
There is also a 14% increase in the number of graduates (63% in 2003) who return to live with their parents for financial reasons, once their course is finished.
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