Wolverhampton University applicants down 14pc
Tuesday 25th October 2011, 12:57AM BST.
The number of applications for 2012 courses at Wolverhampton University is down by nearly 14 per cent compared to those for this year, the latest figures showed today.
Bosses said figures “reflected the situation” nationally.
The drop in applications comes as students face soaring tuition fees from next year. The university will charge £8,500 a year tuition fees from 2012.
Across the country the number of university applications has fallen from 76,612 students at this stage for 2011 to 69,724 for 2012 – a drop of nine per cent.
Paul Travill, Wolverhampton University’s academic registrar, said: “We have received 769 applications so far, compared with 898 at the same point in the application process last year and 830 the year before.”
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These figures are in line with the trend nationally. If the Government do what they say and extend the information campaign about finance, numbers may pick up as more students realise the amounts they will pay back out of their salaries will be affordable, especially since the average earning power for graduates is greater than those who left school with A levels.
The Government just need to get their act together and ensure everyone knows that they will benefit from studying at University.
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That is providing they can get a job in what they have trained in.The fact that they will end up with debts amounting to 30-40K is enough to put anyone off going to Uni.No government can ensure that people who study at Uni will be better off unless the jobs are created with a good salary to go with it.The bigger picture is what is important here. These younsters are our future, and they leave uni with a large debt..How do they afford to buy a home? The economy is is a mess and it won’t get any better with these fees being increased in the long term.
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This is why having the right information is important. You only start to pay back once you start to earn above 21K and you only pay back an amount based upon your earnings above the 21K threshold, not on all of your earnings. For example, if you earn 25K, you pay back based upon 9% of 4K, which would amount to £30 per month.
If you do not get a good job after graduation, you pay nothing, although interest will accrue on the money you borrowed. Similarly, if your earnings drop below 21K you stop paying.
If the loan (or what remains of it) is not paid off after 30 years, it is cancelled
Mortgage lenders have been told that the outgoings to service the repayment of the loan should not be factored into mortgage calculations, so having a large loan to pay off does not affect the maximum amount you can borrow. Obviously, you would have to earn more than 21K to even think about getting a mortgage, so it is doubtful anyone could afford to buy a home without a good job. Having a degree is a good way of ensuring that you are in a position to compete for the good jobs if and when they become available.
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However, you still earn interest on your loan and as such you will be paying back more than what you initially were charged with when entering University.
The Government can butter it up in whichever way they want to make it sound fine and reasonable, it makes no difference, the fees to enter University are extortionate.
I feel sorry for teenagers looking to enter University these days. I just hope the current economic climate picks by the time they graduate.
On another note, will Universities be providing a service above and beyond now that it’s this expensive to enroll? I know if I was a student who understood that they’d be leaving with a 25k bill which would no doubt rise to more, I’d be demanding Oxford style tutoring!
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whats the point my child can not afford this even with the 250 goverment grant that my child did recive and now carnt get no more.
they still be thousands in debt when there in the second year they need a job worth 20 grand a year to to maintain a full time course
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