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Well, prices are yet again increasing to be a student in England/Wales (not so sure about Scotland).
The report mentions Uni fees going up from £9250 to £9500pa from 2018/19 and student loan interest rates are rising from this autumn:
"The government has confirmed that from this autumn, a new higher interest rate of 6.1% will be levied on student tuition fee loans, calculated as RPI +3%. "I still think this will make students/their parents think about where they will study more so now than ever if they are to be saddled with this debt.
What do you think?
This coupled with less EU and other overseas students is not good for us student landlords.
Do student lettings make for ideal large family accommodation.
Yes reduced yield, but large homes return to market as single let's
Or they become HMO for professionals.
Or mini B & B!?
Surely lots of other uses than students!?
Yes the inevitable will happen where students will now treat uni just like college and stay close to home. Uni's are everywhere now too. I'm lucky that my property is near a very reputable one, however this will still have a knock on effect. I guess I'll have to re-let my property for a different type of customer. Maybe working professionals or large family. Students are hard work anyway tbh.
What is sad though is that a new generation of students won't be able to leave home and enjoy some of the best days of their life studying, socialising with people their age and become more independent at the same time. I remember my own experience, I couldn't wait to leave home and check-out from mum and dads hotel. I'd been there from day zero and this was my only chance to really leave and make something of myself. University environment was amazing, like a utopia full of young beautiful people all with high ambitions shielded from the miserable enslaving full-time job environments they will eventually join with the rest of the working society years later.
A lot of people go to university for two reasons; to carve out professional career and experience independence. This stingy Tory government with its grant cuts to now colluding with the banks for higher interest loans will destroy this amazing life experience for so many people. The universities themselves with their insatiable greedy appetites for charging even more fees are actually going to see this backfire if they continue. Most students will either travel abroad to study where its cheaper like East Europe for medicine or give up uni altogether.
The irony is for the amount of money the official residences themselves charge, there is absolutely no way a typical student could live away from home paying for course + accommodation on the limited student loan available. Most parents can't afford to subsidise their kids either. Universities will be the first to suffer.