University v's Apprenticeships
Posted on Tuesday, November 7, 2017 by admin admin — No comments
You’re at that stage in your life when you need to decide whether or not to venture off to University. You’re excited about the life style that comes with it, partying, two hours of lectures a day and taking much needed power naps as and when you feel.
But have you considered the draw backs of going to uni? Did you know the average debt when leaving university has now risen to £50,800, this comes from a study form the IFS recently published by the BBC.
“The increase in interest rates and tuition fees going up to £9,250 per year will push up the cost of loans for all graduates - and higher earners will pay interest of £40,000 on top of the amount borrowed."
This in our opinion is a huge amount of debt to have on your shoulders, which you may end still paying back well into your 50’s.
So whats your other options you ask?
Become an apprentice! Thats right you can live life to the full knowing you wont be ladened with huge debts learning a skill whilst getting paid.
Ok, when you start out on your apprenticeship the money isn’t great, but it’s money for nothing. Companies are paying you to learn a skill which will set you up for the rest of your life, and the best part of it all is you don’t have to pay anyone back!
The National Minimum Wage for an apprentice:
In the the first year of your apprenticeship - £3.50
21 and over - £7.05
18 to 20 - £5.60
Under 18 - £4.05
You can now do an apprenticeship in basically any industry sector you can think of from Information Technology, Surveying to Accounting or even to become a lawyer.
There are many organisation that will pay above the minimum wage to attract budding apprentices, the pool for candidates is getting smaller, so now is a good time to get yourself on the career lad and earn while you learn!