One in five students fear bankruptcy

I went to the Business Start Up Event near Canary Wharf, yesterday, and I'm going again today. There were money seekers everywhere, so this is another way to examine the path to wealth. I even met Rachel Elnaugh from Dragons Den face to face. I encountered businesses offering get rich quick schemes, but there were also millionaires who were happy to share their secrets. I have prepared a massive write up about it, which I will post tomorrow.

For today, I'm going to have another expose of the hardship faced by university graduates.

A university degree is another falsehood touted by the government, as the perfect investment. I came across this article that shows that 1 in 5 students now are considering declaring themselves bankrupt due to the high cost of a university education.

The following comment by a reader of the article sums it up quite nicely:

This is another scandal to add to the list created by GB. There won't be a hope in hell for many of the current generation of graduates to even think about house purchase or starting a family for many years to come.It's now questionable as to whether it's worth going to university at all as there are no job guarantees at the end and many graduates end up with the same jobs as they would have got without a university degree.Schools need to wise up to this too as they push a university education to gullible pupils. I would advise anyone thinking about university to do their sums very carefully first. Having a degree is not the be all and end all it used to be.

- Janet, Chippenham Posted: 28 May 2009, 2:53pm

I couldn't have said it better myself. This situation has been going on for many, many, years and it is only now that the media is becoming interested in it. I am not against a university degree, I am just saying that it is not a guaranteed investment, so shouldn't be sold as one.