what’s4me? Class Material Introduction •Deciding what you want to do after Year 11 is very important for your future, so its a good idea to start thinking about it now •Today we are going to talk about the different options available to you, and how you can decide what’s the best one for you What sorts of things matter for your future? • Whether or not you stay in education after year 11 • How long you stay in education for • If you go into higher education: —What subject you choose to study —Which university to go to These decisions will affect whether you get a job and how much you earn! We will go through each in turn Staying on matters…for whether you get a job Women who left full-time education at different ages You are more likely to get a job if you stay on in education! 76% who stayed in education until age 18/19 have jobs 63% who left school at 16 levels have jobs 84% who went to higher education have jobs Staying on matters…for whether you get a job Men who left full-time education at different ages You are more likely to get a job if you stay on in education! 87% who left school at 16 levels have jobs 91% who stayed in education until 18/19 have jobs 95% who went to higher education have jobs Staying on matters…for how much you earn Women who left full-time education at different ages You are likely to earn more on average if you stay in education! Those who left at 16 earn about £17,000 Those whodid stay 75% who A’in education levels haveuntil jobsage 18/19 earn £22,000 Those who went to higher 85% who education went to earn about university £32,000 have jobs Staying on matters…for how much you earn Men who left full-time education at different ages You are likely to earn more on average if you stay on at school! Those who leave at 16 earn about £22,000 Those who 75% who didstay A’ in education until age levels have jobs 18/19 earn £27,000 Those who go to higher education 85% who earn about went to £38,000 university have jobs So on average people going to university earn £15,000 a year more than people who leave school with just GCSEs. That doesn’t seem like a lot! It is over a person’s entire working life! If you work for 40 years, that’s £600,000! But why do women earn less than men? There are lots of reasons! 1. Women often take time out to have children so their earnings can fall behind 2. Women often decide to do different types of job than men But don’t forget that while wages for men are slightly higher, women and men who stay on at school or go to university still earn more than those who don’t! Will we really earn the average? Maybe I’m a superstar! No. It depends on lots of other things! - What sort of job you get and how good you are at it. - The state of the economy when we are older. - We also have to think about lifestyle choices. What if we have children?! Average wages just give a rough guide. Useful information but not a crystal ball! Staying on matters…and there will be help available if you decide to go to university • By the time you are at the age where you can go to university, the costs will be quite different from today • In 2012, tuition fees will be about £8,500 per year • Some universities may charge less, and some may charge more, but fees will never be higher than £9,000 per year • This may sound like a lot of money – but you don’t have to pay this until after you have left university and got a job! — You can borrow the money from the student loans company — And you only pay back 9% of your earnings over £21,000 — So if you don’t have a job you don’t pay anything —And if you were earning £25,000 a year, you’d only pay back £7 a week! Staying on matters…and there will be help available if you decide to go to university • You will also be able to get a student loan for living costs, and this is paid off in the same way as the fee loan • In 2012, everyone applying for this loan will receive between £3,575 and £5,500 per year •There are also student grants – this is money that you don’t ever have to pay back! •Those from families with income of less than £25,000 can get £3,250 per year. Those from families with income between £25,000 and about £42,000 per year can receive a smaller grant. You don’t have to pay anything up front, and you can get loan and grant money to live on while you’re studying. So everyone can afford to go to university! Staying on matters…and there will be help available if you decide to go to university There will also be scholarships available for those from low income backgrounds. This is called the National Scholarship Programme. If your family income is £25,000 or less, you will be eligible. The help available varies depending on which university or college you go to. It might include help with tuition fees, accommodation, a cash bursary of up to £1,000 or other help. This money doesn’t affect your maintenance loan or grant. For this we need to get information on 'area cost adjustments' at local authority level - the indices that are used to weight the But is it still worth going to university? If my fees are £8,500 per year and I take out a maintenance loan too, I could be in over £30,000 of debt by the end !!! Of course it is! For example, at age 30, a man who left school at 18 will earn on average £27,000, but a man with a degree will be earning £38,000 on average. That’s £11,000 more (on average) just in that year. Over time this adds up! 3 years of debt < lots of years earning more money because of higher education The subject you study at uni matters…for how much you earn (on average) Average yearly earnings for women aged 30 But remember. Money isn’t everything…! A vet earns about £27,000 A lawyer earns about £39,000 The subject you study at uni matters…for how Someone doing much you earn (on average) business studies Average yearly earnings for men aged 30 But remember. Money isn’t everything…! Someone doing art may earn about £30,000 may earn about £43,000 The subject you study at uni matters… for the job you want to do! Its important to find out what subject you should study… I want to be a vet! Go to www.whats4me.co.uk to find out what subject you need. Or email [email protected] The university you go to matters…for how much you earn Studying Biology: annual salary 6 months after graduation (£) Bristol Portsmouth university university Average of all universities Someone studying biology at Bristol could earn nearly £5k more than someone studying at Portsmouth! But what if I don’t want to go to university? I might want to be a plumber! You’ll still need a Level 3 qualification if you want to earn more than the average! That means •A levels •City and Guilds •NVQ There’s all sorts of courses you can do and advice you can get! Destination: Level 3 You’re far more likely to earn more than average if you get a level 3 qualification (or higher). So don’t stop at Level 1 or 2 – stay on the bus to Level 3!!! Don’t get off the bus!!! Where can I find out more? On the Whats4me website! How to access the website…………………..