Funding and debt
The cost of eduction is putting incresing financial strain on students and their families.
Key areas investigated by Futuretrack are:
- plans to fund higher education by age and socio-economic background
- expectation of debt by background, type of school, age and ethnic group
- anticipation of doing paid work during term-time.
In detail
Graph: where does the money come from?
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Surprisingly, fewer than 20% expect to rely on loans and overdrafts to get through higher education. Will these expectations remain after Futuretrack Stages 2 and 3?
Graph: where will the money go?
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- most students are concerned that their future debt will be a significant issue once they leave university
- socio-economic status makes no difference to students’ concerns
- those attending private schools are least to anticipate significant debts
- Scottish students are more likely to anticipate doing paid work to fund their studies – even though they are free from the burden of tuition fees.
Student quotes about funding and debt
“Although I know that I will not have to pay back the loan until I earn £15,000, it’s likely to come at a time when I may wish to take out a mortgage on a house etc. This worries me a great deal!” Female, Sciences, South East.
“I believe that higher education is a great opportunity for families like mine that are not particularly well-off and could definitely not fund me through university. Support and student loans are the reason why I am able to get a degree.” Female, Education, South East.
“Even though the finance may be quite a lot, you'll have your degree forever, which is priceless.” Male, Biology, East.
“Education should be free. It is embarrassing that other countries in Europe like France support their students - whereas students in England are made to feel ashamed, a waste of space, as if we do nothing all day.” Female, Medicine and Dentistry, London
Read the complete report
If you want to read the first stage report in full, contact us for a copy. If you’re a Futuretrack participant why not play with the results yourself? Log-on to the members’ section and search the survey to uncover some fascinating results.
Read other sections of the Stage 1 summary
- Who's taking part
- Application
- Attitudes to higher eduction
- Career planning
- Choice making
- 2006 survey results home
