Leaving uni with 25,000 pound debt

[1st year student]

One of my friends will graduate this year and he says he has this much debt. Basically he has had to borrow the tuition fee loan and maintenance loan each year which is 6,000 each year.

Can a pharmacist afford to have this much debt??? considering he will start on 33,000 with boots.

How much will he have left each year after tax and the loans company taking there share of his wage???

Im really worried because im living away from home and might end up with similar debt if i dont work.

Any advice will be much appreciated about his debt situation.

Thanks in advance

[lamzee]

Here is just a side point. A bit of good advice to anyone with a student debt--don't move to Ireland (north or south) and expect to be able to pay it back.

[johnep]

All part of the conspiracy to prevent ordinary youngsters getting on in life. However, in USA a $100,000 debt is not unusual and there the job situation is declining as it is here.
johnep

[1st year student]

How much debt are other students on this forum leaving uni with????

[Nik]

To be honest I think 25k is probably going to be the average debt for students graduating this year who live away from home. The situation won't get any easier for uni students as fees will keep on rising, and unlike other courses, bursaries are hard to come by for pharmacy students.

[johnep]

So what will happen when the shortage of pharmacists becomes a definite surplus?
johne

[Fleegle]

OK...I've just done a rough blokish, student-type calculation on this one...

6 pints of beer per day (conservative estimate) @ £3 per pint................£18
1 pack of fags per day............................................... ..........................£6

Total per day...£24.

£25,000 divided by £24 = 1042 days

1042 divided by 365 = 2.85 years.

Don't drink or smoke, and you will be debt-free within 3 years.

I have not included costing for kebabs, burgers, clubs, casinos, taxis or women, as I regard these as absolute necessities, and should never attract savings unless desperate.

Fleeg.

[unholyteddy]

I'd prefer to leave university with 25k debt and a degree in Pharmacy rather than a silly degree (like Media Studies) and have a questionable future.

[1st year student]

Thanks for your advice guys.

I do feel a bit better about it now. At first i thought it would be impossible to pay it off with all the living costs but now i think it should be ok.

[Nik]

OK...I've just done a rough blokish, student-type calculation on this one...

6 pints of beer per day (conservative estimate) @ £3 per pint................£18
1 pack of fags per day............................................... ..........................£6

Total per day...£24.

£25,000 divided by £24 = 1042 days

1042 divided by 365 = 2.85 years.

Don't drink or smoke, and you will be debt-free within 3 years.

I have not included costing for kebabs, burgers, clubs, casinos, taxis or women, as I regard these as absolute necessities, and should never attract savings unless desperate.

Fleeg.

Brilliant ! But where were you buying your pints Fleeg, £3 is a bit pricey