LONDON, UK: Medicine and dentistry appear to be the only two professions in which graduates in the UK are currently able to cover their student debt. Evaluating the lifetime graduate premium, the financial bonus people expect from obtaining a higher education in any of a variety of disciplines, a report by the Intergenerational Foundation in London found that graduate salaries in the majority of professions are not sufficient to pay off tuition fees.
The report cites Sutton Trust research that found that medical and dental graduates have the highest starting salary, earning between £25,000 and £30,000 per year, while graduates in design, journalism or law often receive less than half of that amount.
Overall, the value of a degree was cut by up to a third in the five years leading up to 2014, despite a sharp rise in student tuition fees.
“Our research proves that the current £100,000 graduate earnings premium so often touted equates to an ‘annual bonus’ of just £2,222 over 45 years of work, and is wiped out once National Insurance and Income Tax are taken into account,” Angus Hanton, IF co-founder told The Independent. “Furthermore, the premium is simply not enough to cover the interest accruing on the average loan.”
UK students who fall under the £9,000 regime already face the highest debt in the world, with an average of £44,000 owed once they graduate.
“Paying off these huge, unquantifiable and relatively unregulated debts will wipe out any graduate premium in all but the highest-paid professions and for all but the most successful people in business and other fields,” the report explains.
“The need for a large graduate premium to justify student loans and the Willetts Tax may well lead students to study only vocational subjects directly linked to highly paid careers in order to pay off their debts,” it further states.
Recent governments have sold intuition fees and expansion of higher education by publicly claiming that a university degree yielded a return between £100,000 and £400,000 in additional earnings over a lifetime, starting with higher education minister Margaret Hodge in 2002. This has led to an increasing number of graduates performing non-graduate work in order to repay their student debt.
BROMLEY, UK: When beauty therapist Caroline Sumpter from Bromley bought a Megawhite Teeth Whitening Licence from Dentawhite in Glasgow, she was not aware ...
LONDON – The General Dental Council (GDC), the regulatory body for dental professionals in the UK, has suspended a dentist for professional misconduct...
LONDON, UK: About a year has passed since Align Technology launched its latest product: Invisalign Go, a clear aligner system for all dentists. With this ...
CARDIFF, UK: The British Dental Association (BDA) Wales has criticised a pay increase for Welsh dentists that is below current inflation rates in the UK. It...
BELFAST, Northern Ireland: New data published by NHS Digital has revealed that real wages for UK-based dentists have fallen by at least 30% over the past ...
LONDON – A recently published report about the UK dental consumer market has shown that only 52 per cent of the UK population visited the dentist ...
DUBLIN, Ireland: Children in Ireland have their first dental visit some years too late. The average age from which they are screened under the current ...
LEIPZIG, Germany: Researchers and health bodies around the world are advising health practitioners in the northern hemisphere to actively prepare for an ...
LONDON, UK: A new study by the Faculty of Dental Surgery (FDS) of the Royal College of Surgeons has found that 80 per cent of children between the age of 1 ...
BIRMINGHAM, UK: Recent changes to the dental care system seem to have taken their toll on dentists’ expectations for the future of their profession. ...
Live webinar
Fri. 19 July 2024
1:00 am UTC (London)
Live webinar
Tue. 6 August 2024
11:00 pm UTC (London)
Live webinar
Wed. 14 August 2024
12:00 am UTC (London)
Live webinar
Wed. 14 August 2024
5:30 pm UTC (London)
Live webinar
Wed. 21 August 2024
2:00 pm UTC (London)
Dr. Jim Lai DMD, MSc(Perio), EdD, FRCD(C)
Live webinar
Thu. 29 August 2024
1:00 am UTC (London)
Live webinar
Mon. 2 September 2024
10:00 am UTC (London)
To post a reply please login or register