How to leave uni with less debt

How to leave uni with less debt

The rising cost of going to university is a real concern for many students wondering whether to study for a degree after leaving school.

A study by the Institute for Fiscal Studies in 2014 revealed that students leave uni with an average debt of £44,000 — almost double that of young people who left before the new fees of up to £9,000 / year came into force in 2012.

The good news is, you can drastically reduce the cost of university life depending on where you study, and start your music career without the burden of large debt.

Many private schools that offer university degrees do not bear the huge costs of traditional universities, and can therefore afford to offer courses with cheaper annual fees. Echo Factory’s BMus Music Performance and BA Music Business degree courses are £3,000 less per year than traditional universities.

Where you study in the UK also makes a huge difference to annual costs. A study by HSBC found the average student in Leicester spends £196 per week on rent and living costs compared to £235 in Manchester, £263 in Brighton, £289 in Birmingham and £315 in London.

Put another way, a music student at a London university could spend over £15,000 more on tuition fees and living expenses than an Echo Factory student, by the time they’ve graduated.

Lower tuition fees are not a reflection on quality. At Echo Factory, we believe we offer the best value for money with a highly personalised teaching approach and one-to-tuition that you won’t find anywhere else. Students don’t just come to us to get a degree, they come to launch a long and successful career in the music industry.

We believe studying for a Music degree is an investment in your future. While it may not be possible to avoid graduating without debt, you can make choices to ensure you leave with manageable debt that you can clear when you start your music career.

If you’d like advice or have questions about the cost of university life, our team are happy to help. Call us on 0116 253 5657 or email us. Find out more about our BMus Contemporary Music Performance and BA Music Business degrees.