Degrees are still incredibly valuable - by the time a graduate is 30, their average salary is £31,041, compared with just £17.899 for employees whose highest qualification is a GCSE.

Since the government changed the rules regarding University tuition fees, the awareness of the cost of studying a degree has become more prominent.

However, with graduates set to earn £168,000 (males) and £252,000 (females) more over their lifetime than those without degrees, it seems that university fees are a worthwhile investment.

With this in mind, we have highlighted the potential cost of studying a degree, along with the expected return on investment to help you make an informed decision. 

Long-Term Earnings

To help cover the cost of course fees, student loans are available. They won’t affect your credit rating, and if you haven’t repaid the total sum in 30 years, it’s written off. That means some people won’t ever repay their debt in its entirety – and if you do, you’ll be consoled by the thought that you’re amongst the highest-earning echelons of graduate society.

To quantify this, the average starting salary for University graduates is between £18,000 and £24,000. However, it’s certainly worth noting that you won’t actually start repaying your student loan until your annual salary is at least £21,000.

Affordable Student Accommodation

In addition to tuition fees, is the cost of student accommodation during your studies. Living at home is estimated to cost around £4,500 per year, while Somerset College’s Halls of Residence provides affordable accommodation for our students at just £4,840 per year.

You’ll also need to factor in bills, course materials and transport, so a part-time job may be beneficial. With this in mind, we have structured our degree courses at Somerset College, to ensure students are able to hold down a regular job and balance the demands of work and study.

Undergraduate Open Day

Come along to our open day on Saturday 12 January 2016 2pm - 4pm and explore the exciting range of degrees on offer.

See our first-class facilities, meet staff and students, and gain an insight into student life.