A UK law went into effect in the fall of 2023, stating that a graduate can only begin repaying a student loan once they begin earning twenty-five thousand pounds annually. While this is a manageable amount for some young people, others will need to work for more than five years to come close to this level of income. Per a Daily Telegraph study, It depends on the university and the specialty selected.
In 2020–21, the Department for Education reported that the average annual salary for recent higher education graduates was £21,500. The study found that the most promising courses are in computer science, business, and law (the average salary after five years of work is more than 50 thousand pounds) and that the average annual income increased to an average of 26 thousand pounds with an additional three years of work experience and to 30 thousand pounds within five years. However, graduates from more prestigious universities, such as Imperial College London and Oxford and Cambridge universities, can qualify for a higher salary immediately after graduation, and after five years, their average annual earnings can exceed 80 thousand pounds. The average salary gap between university graduates is £25,600, and in some cases, the gap is over £60,000. The student’s choice of specialization also plays a significant role.