Student loans in England: is the degree still value for money?
This Is Why
Sky News
4.0 • 552 Ratings
🗓️ 30 May 2023
⏱️ 19 minutes
🧾️ Download transcript
Summary
Some analysts say the changes which include 10 extra years on the life of the loan and a lower income when repayments start could see some graduates paying almost double over the course of their working lives.
So, if you’re paying more for longer, is a degree still worth the cost?
On the Sky News Daily, Leah Boleto is joined by money expert Greg Marsh, and social mobility professor Lee Elliot Major to discuss how the debt is changing and options young people have.
And ahead of her exams, sixth form student Thea Roland talks about her future university plans.
Producer: Sydney Pead
Editor: Philly Beaumont
Transcript
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| 0:00.0 | Uber drivers. Have you seen your pay go down while your fees to Uber go up? |
| 0:05.0 | All because of an algorithm that reduces your take-home pay, making you work more for less. |
| 0:10.0 | We believe Uber's dynamic pay and upfront pricing is unfair. |
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| 0:21.5 | If you've driven for Uber at any time since 2020, it's time to stand together. |
| 0:26.8 | Find out more at dynamic pay.org. |
| 0:30.9 | When you think about starting university, fresh as week might be top of the list, |
| 0:36.3 | making new friends, a new town or city, and yeah, maybe the lectures too. |
| 0:41.5 | But then there's the debt, and there are big changes to student finance in England from this September. |
| 0:47.3 | If you're about to start a degree, paying back your loan is going to cost you more, with many having to start paying back the loan sooner and for a much |
| 0:56.0 | longer period. Now, the value of a degree could help your earnings in years to come, but if you're |
| 1:01.7 | paying off a student loan for 40 years, is uni still worth it? I'm Lea Belletto and this is the |
| 1:08.6 | Sky News Daily. We'll be talking to a money expert who will run us through the changes |
| 1:13.6 | and we'll hear from an expert who advises young people and parents about their options |
| 1:18.9 | when it comes to finding a university place. |
| 1:22.4 | But first, let's hear from Thea. |
| 1:24.4 | She's 17 and knee-deep in revision notes for her A-level exams, but took a |
| 1:29.8 | break to talk to us. Thia, how are you feeling about your exams? My first exam is in a week |
| 1:35.7 | on Wednesday, so I mean, hopefully all goes well, but we'll see. Prepared as you can be, |
| 1:42.3 | I bet, eh? Yeah, something along those lines. |
| 1:46.1 | So do talk to me a bit about your plans after school. |
| 1:50.1 | What kind of career are you hoping to do? |
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