Graduate entry 2010/ credit crunch

**aviva** · 29-08-2009, 03:07 AM

Hi,
I am wondering if the financial crisis can affect the number of graduate applicants applying this year for 2010 entry.

People who are graduate like me may reconsider their plans due to the fact that they can stay in full-time employment and get through this difficult times easily, rather than becoming a full-time student again and struggling financially.
This will probably be even more relevant to people who have families/ children.

I am still thinking about my choices, and although I want to study Medicine so badly, one of my friend's words echo in my head. She told me that she thinks this is an irrational and a bit selfish decision at this stage (me applying for Medicine) as I have to think about my family and their needs first (my household largely depends on my income).

I am sure that difficult financial times are also considered by other people. Therefore, it will affect the number of graduate applicants. What do you think?

**maybe** · 04-12-2009, 03:58 PM

Hi

I think the credit crunch will increase graduate applications as lots of new grads are unemployed but that may be offset by matures not wanting to take a risk....

M

**jubzy** · 04-12-2009, 05:23 PM

hey there, it's difficult to say. if there are those already made redundant, then they may apply to study and live off the student finance (if they're eligible). however for those who have savings, maybe they'll hang onto their money just a little bit longer because this risky venture of medicine might prove too stressful.
i am a grad who applied to med this year. i ahve recently been made redundant and have next to no savings. but i did do my homework and the NHS will pay for any 4-year courses; student finance will pay for any 5-year courses, but i'll be entitled to the full amount because i didn't take any loans out for my first degree.
i dont know if things have changed in these few short months, but i have to first get thorugh the admissions cycle before any decisions are made.

all the best

**Martigan** · 04-12-2009, 06:01 PM

Originally Posted by maybe

Hi

I think the credit crunch will increase graduate applications as lots of new grads are unemployed but that may be offset by matures not wanting to take a risk....

M

My thoughts exactly.

Aviva. I wouldn't let your friends words phase you too much. It's only irrational to some one who doesn't understand... As for your family's needs well that's a matter for you and your famaily, so none of her business. I'm sure your family values your needs to. I have discussed it a great length with my son and explained the impacts, but he is still more than supportive.

**aspirant doc** · 04-12-2009, 11:57 PM

I think it totally depends on what income you are on, how reliant you are on that income (mortgaged up to hilt?), how secure your job is, how much of drop in income you could face, how much of a drop in income you can tolerate etc etc. It is a very personal thing, and the impact will be very different for different people.

In my experience, earning to support my dependents alongside studying, if living the life of a 30-something is the only yardstick, then going to medical school is not going to be fun if you feel it is too much of a change in lifestyle. But if you cut back on things (holidays, restaurants, trips away, big purchases etc), it is surprising how much you can live without, without living like a 20 year old student again and having a decent quality of life!

Also, it is perfectly possible to earn in excess of £10K per annum at medical school, and I am not referring to student loans.

But I would say don't worry about change of lifestyle; it is temporary.

**aviva** · 07-12-2009, 12:11 AM

Thank you, everyone. Reading your posts is SO encouraging.
Since I have written the first post in this thread, I suppose I have made my decision as I have applied to both 4 and 5 year courses.
I have been putting other people's needs before mine for a long while now. It is time I did something my heart goes to so much and not regret it in the future when it is too late.
One of the mature students with children on Barts open day said that let money not worry you, it will be found.
I have also started doing a lot of nursing agency work now, and, surprisingly, found that for two days a week work I can earn as much as full time in a permanent position. I feel that it is destiny making it easier for me, and my desire to become a doctor can come true one day.
I do save people's lives and make a difference now (of course with teams of wonderful people), for example successfully tried to get somebody out of a long-term coma where there was a little hope, which gives me a sense of immense fulfillment but I would like to do even more, as much as I can, and it is the knowledge that I desire.
My heart and my soul belong to medicine.
Martigan said it so right, it is only irrational to somebody who doesn't understand.
I am not letting anything stand on my way now and will keep on trying. Some years ago when the steps I am taking now seemed unreal, I have imagined myself sitting on my first ever lecture at a medical school and cried. I cried because I had a little hope for it to come true. And now here I am applying, strong and positive as ever.
Good luck, everybody! Let our dreams come true!

**Martigan** · 07-12-2009, 12:46 AM

Aviva

You only have one life. Live it.

Like you, my heart and soul also belong to medicine.

As I've said in another thread. I would rather have four years not earning, and another 20-25 years doing what lets my heart fly, rather that another 30 years in a job that does nothing for my heart but is good for the bank balance.

And as aspirant doc says above. It's amazing how you can adjust to having very little. When I went though my divorce I have a few years with only £200 a month after paying my mortgage, debts and CSA. I survived and I can do it again. And as already said, it’s only temporary.

You never know, we may be at Kings together.

:-)

Good luck.

**aviva** · 07-12-2009, 03:51 AM

Thank you, Martigan.
Such words help so much to keep me going.
Initially my other half was against the idea of me doing this. But seeing how determined I am changed his attitude. There is no way back for me. I look forward to the bright future even if it is tough. I will follow my heart.