When you were in school what felt like a lot of money? £1000? £10,000? £100,000?
How much did you think you’d earn when you graduated and when did you think you’d be able to afford a mortgage?
Teenagers going to University this year have to think about the value of money more than ever before. They’re facing up to £10,000 a year tuition fees plus rising maintenance costs that will leave them with minimum debts of £50,000.
I’ve been to a High School in Hexham, Northumberland whose motto is ‘Spes Durat Avorum’ (the hope of our ancestors remains) to see if Sixth Formers have kept their hope for the future of education or if they’ve got savvier about money. The result was acceptance of debt, a desire to have fun at Uni regardless, apathy about ever being able to get a house and a rather optimistic view of graduate salaries.
Many thanks to Queen Elizabeth High School for their budget tips in this report by Fiona Marley Paterson for BBC Newcastle: