Student Moans and the Quarterlife Crisis

It's that time of year again when global issues take second place in the British media, to make space for the great 'A' level debate. Packed with case studies of "Laura achieved nine A grades and was still rejected from her first choice", you have to wonder how long students can maintain the will to study. It's not just the fact that companies and newspapers are debating whether students are actually getting more stupid ('A' levels are the new GCSEs apparently), students are debating themselves whether they are getting more stupid by even considering going to university in the first place.

Lazy British journalists are still reciting that the average graduate starting salary is still around £25,000. At Cashzilla, we're not entirely sure where they get this figure as most graduates start well below this ? sometime as low as £12,000. that's not much money at all when you owe more that that in student debt.

But still as unimaginative schools and parents coax their kids into three (or more) years of vacant academia, it takes a gutsy 18 year old to take a long term approach to what they may wish to do with their life.

It is true that there will always be careers that demand a university education, but many young people get pushed on to the higher education conveyer belt, without any idea of what they're doing there. If there was a booming graduate jobs market at the end of the production market ? vacant graduates would be fine.

But there are real concerns about how crowded the universities are becoming and how students are managing their finances. It is a phenomenal burden to allow students to borrow such significant amount of money and then watch them struggle for employment upon graduation. Even when they get a job, many find it doesn't meet the high expectations pumped into them at university. No wonder the "quarter life crisis" has become a lifestyle segment.

If you are a student, graduate or university virgin, you must read Damian Barr's article "Crying on the inside" from Times Online (http://www.timesonline.co.uk/article/0,,8123-1093294,00.html), it's a superb summary of life as a British twenty-something. On a slightly more practical, but just as constructive note, there is an abundance of advice and support available on the internet. Support for learning is a superb site (http://www.support4learning.org.uk/money/index.htm) and moneynet offers an excellent student finance guide (http://www.moneynet.co.uk/student-finance-guide/index.shtml), but don't get distracted by searching for additional loans and credit cards!

By all means go to university and have lots of fun, but bear in mind that the graduate market is hugely competitive ? and again ? t h e g r a d u a t e m a r k e t i s h u g e l y c o m p e t i t i v e. We would rather see young people take some time out to work, travel and gain experience before embarking on a hedonistic journey of sex, drugs and rock and roll. Yes you have the right to an education, but remember that education does not always lead to freedom, especially with the current price of a degree.

Rachel writes for the personal finance blog Cashzilla.

Rachel lives in Edinburgh (currently over-run with tourists) with Cat, blonde Andy and brunette Andy.

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Google News Updated : Fri, 10 Oct 2008 17:49:09 GMT A Cautious Approach to Gardasil Shot - U.S. News & World Report Canada.com A Cautious Approach to Gardasil Shot U.S. News & World Report - 34 minutes ago News today cheering the fact that 1 in 4 teen girls has received the Gardasil vaccine sounds to me like some serious spin from the Centers for Disease Control and Prevention, the government agency pushing girls as young as 9 to get the shot. Cancer Vaccine Used by 25% of Girls 13 to 17 New York Times Quarter of adolescent US girls received HPV vaccine Reuters WebMD - dBTechno - Wall Street Journal - eFluxMedia all 463 news articles Publ.Date : Fri, 10 Oct 2008 17:14:13 GMT Help Support Breast Cancer Awareness With Lifespring Health - MarketWatch ChattahBox Help Support Breast Cancer Awareness With Lifespring Health MarketWatch - 1 hour ago Lifespring Health will be Donating $5 to the Susan G. Komen Foundation Each Time you Shop Online This Month SUNNYVALE, Calif., Oct 10, 2008 /PRNewswire via COMTEX/ -- October is breast cancer awareness month! Go "Passionately Pink for the Cure" on Oct. 17 Atlantic News Telegraph Panera Bread to sell pink bagels Times Herald-Record SkinInc.com - BurlingtonFreePress.com - Chambersburg Public Opinion - Penn State Worthington Scranton all 68 news articles Publ.Date : Fri, 10 Oct 2008 16:05:31 GMT Eagles' Westbrook out for Sunday's game - Sports Network Sports-Odds.com Eagles' Westbrook out for Sunday's game Sports Network - 28 minutes ago Philadelphia, PA (Sports Network) - Philadelphia Eagles running back Brian Westbrook will not play on Sunday at San Francisco. Westbrook, who has been hampered by a sprained ankle he suffered in the Week 3 victory over Pittsburgh, fractured his ribs in ... Brian Westbrook: Ruled Out Rotowire Les Bowen: Eagles vs. 49ers: The pick Philadelphia Daily News WILM News Radio - NFL News - Kansas City Star - The Associated Press all 642 news articles Publ.Date : Fri, 10 Oct 2008 17:20:18 GMT Coleman calls off negative ads - Minneapolis Star Tribune MinnPost.com Coleman calls off negative ads Minneapolis Star Tribune - 24 minutes ago By Patricia Lopez, Star Tribune ...and it has nothing at all to do with several outlets (including one of Franken's ads) letting us know that a Coleman ad that wants us to … read more see Franken looking out of control/angry, is actually video of ... Coleman: I'll remove negative ads and urge others to do same Pioneer Press Coleman says he'll pull negative ads to focus on economy Minnesota Public Radio KAALtv.com - The Hill - The Associated Press - OpEdNews all 460 news articles Publ.Date : Fri, 10 Oct 2008 17:25:04 GMT UPDATE 1-Bush says US moving quickly to solve market crisis - Forbes Canada.com UPDATE 1-Bush says US moving quickly to solve market crisis Forbes - 1 hour ago WASHINGTON, Oct 10 (Reuters) - President George W. Bush said on Friday the US government was moving aggressively to address the financial markets crisis, but he acknowledged that anxiety was feeding on itself as stocks continued to plunge. Bush appeals for confidence CNNMoney.com Bush Says Markets Must Remain Calm Despite Challenges Washington Post Reuters - The Associated Press - TheStreet.com - CNN all 1,456 news articles Publ.Date : Fri, 10 Oct 2008 16:33:45 GMT NATO agrees on Afghan drug role for military - The Associated Press Boston Globe NATO agrees on Afghan drug role for military The Associated Press - 1 hour ago BUDAPEST, Hungary (AP) - NATO defense ministers Friday authorized their troops in Afghanistan to attack drug barons blamed for pumping up to US$100 million (euro74 million) a year into the coffers of resurgent Taliban fighters. NATO Joins Drug War in Afghanistan Voice of America NATO to Hit Drug Trade in Afghanistan New York Times AFP - Bloomberg - International Herald Tribune - Times Online all 1,309 news articles Publ.Date : Fri, 10 Oct 2008 16:11:48 GMT States probe possible voter registration fraud - Chicago Tribune ABC News States probe possible voter registration fraud Chicago Tribune - 1 hour ago Questions about possible cases of fraudulent voter registrations were being raised this week as officials in several states investigated hundreds of questionable or duplicate registration forms submitted by an advocacy group. Carnahan statement on ACORN registration mess Kansas City Star Republicans try to tie Obama to vote fraud cases Boston Globe ABC News - Pittsburgh Tribune-Review - Inter Press Service - MyFox Tampa Bay all 1,193 news articles Publ.Date : Fri, 10 Oct 2008 16:48:10 GMT RSS to Blog RSS For Web Pages

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