At 45, James Fenneberg is going back to university for a postgraduate degree, and anticipates it will cost him around £30,000 in fees, renting, travel and materials costs.
James is studying a postgraduate degree in environmental architecture at the Royal College of Art (RCA) in London, starting in September, but worries the cost of the degree will lead to him struggling to buy a property in the south of England, where he wants to live.
Though he will get a student loan, it will only cover around £13,000 of his fees – and he’ll be left repaying the cost for up to 30 years, at a rate of 6 per cent on all his earnings over £21,000.
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It also won’t cover his living costs and so bar a £5,000 bursary, he will be left dipping into inheritance he received from a family member – which he’d previously earmarked for a house purchase of his own.
