Although students are very much aware of the price of their degree when they begin, they aren’t required to pay it back for aslong as it takes them to earn over £21,000. Moreover, a student would have to earn over £41,000 for 30 years to pay off their entire loan within the new guidelines.
Several recent reports have looked into the link between the rise in tuition fees and the number of students turning to prostitution but is this really the case?
The maintenance loan (the portion of the loan to cover living costs) actually remains unchanged. Therefore students have no less money to live on than previous attendees.
Why are recent headlines declaring the education system has a prostitution dilemma on its hands?
The rise in living costs maybe to blame. The Daily Telegraph recently conducted a study regarding the real cost of living in which it examined how much the cost of living had actually gone up in recent years. They found that overall the cost of living had gone up by more than 9.5% however when examining the break down of items within the living cost index is it apparent that not many of these areas would be of particular issue to the average student.
According to the report, an average food shop had only risen by around 30p.