Thousands of students will receive their A-Level results on Thursday. However, with the cost of living rising, many may be wondering whether going to university is worth the price.
Here’s a look at the financial pros and cons.
Most student debt comes from tuition fees, which most people pay by taking out a student loan.
The maximum annual fee can differ substantially depending on where you live at the time of applying for a course:
Although tuition is usually free in Scotland, there is a cap on the number of university places, so there’s less opportunity to study.
Then there are accommodation costs. If you are leaving home, it is generally cheaper to live in university-owned accommodation.
In 2021-22, the average rent for university-owned rooms was £6,227 per year, while for private rooms this was £7,732, according to student housing charity Unipol.
Unipol estimates the average rent for a room in London consumes 88% of the maximum maintenance loan – the loan for living costs -…