Degree vs Apprenticeship Calculator
Compare the lifetime financial outcome of going to university versus doing an apprenticeship in the UK. Set tuition costs, starting salaries, and growth rates for each path to see which comes out ahead, and when.
Both paths
Degree
Living cost loan drawn each year of study
Used for student loan interest
Apprenticeship
Apprentice wages typically rise faster year-to-year
Salary once qualified, after the apprenticeship ends
Year-by-Year Breakdown
| Age | Degree Salary | Degree Loan Balance | Degree Cumulative | Apprentice Salary | Apprentice Cumulative |
|---|---|---|---|---|---|
| 18 | £0.00 | £19,183.73 | £0.00 | £15,000.00 | £14,319.60 |
| 19 | £0.00 | £39,038.88 | £0.00 | £16,200.00 | £29,503.20 |
| 20 | £0.00 | £59,588.97 | £0.00 | £17,496.00 | £45,619.92 |
| 21 | £28,000.00 | £61,433.19 | £23,409.60 | £26,000.00 | £67,859.52 |
| 22 | £29,120.00 | £63,240.28 | £47,524.80 | £27,040.00 | £90,847.92 |
| 23 | £30,284.80 | £65,004.80 | £72,373.83 | £28,121.60 | £114,615.07 |
| 24 | £31,496.19 | £66,720.96 | £97,986.02 | £29,246.46 | £139,192.12 |
| 25 | £32,756.04 | £68,382.60 | £124,391.93 | £30,416.32 | £164,611.47 |
| 26 | £34,066.28 | £69,983.16 | £151,623.28 | £31,632.98 | £190,906.81 |
| 27 | £35,428.93 | £71,515.66 | £179,713.11 | £32,898.29 | £218,113.18 |
| 28 | £36,846.09 | £72,972.67 | £208,695.74 | £34,214.23 | £246,267.02 |
| 29 | £38,319.93 | £74,346.32 | £238,606.90 | £35,582.80 | £275,406.24 |
How this comparison works
Both paths start at the same age. During the degree's course length, the student has no income and accrues debt (tuition + maintenance loan) which grows with interest. The apprentice earns a wage from year one. After graduation, the model uses the UK student loan repayment rules (9% of income above the plan threshold, written off after 30–40 years) to work out the graduate's actual take-home cash each year, alongside income tax and National Insurance for both paths.
- Degree path: Tuition + maintenance loan debt, zero income while studying, then take-home pay minus student loan repayments after graduating.
- Apprenticeship path: A wage from day one, rising as the apprentice progresses, then a qualified salary with no loan debt.
- Break-even age: The age at which the degree path's cumulative net cash overtakes the apprenticeship path's for the rest of the horizon.
This is a simplified financial model. It does not account for pension contributions, job security, career progression speed, or the non-financial value of either path — see our degree vs apprenticeship guide for the wider context.
Frequently asked questions
Is a degree still worth it financially in the UK?
It depends heavily on the subject and starting salaries on each path. Graduates typically start lower (factoring in loan repayments) but their salary tends to grow faster and compound over a working life, while apprentices earn from day one with no debt. This calculator lets you test your own numbers to see which path comes out ahead over your chosen time horizon, and at what age.
Why does the apprenticeship path start ahead?
Apprentices earn a wage from day one, while students typically have no income during their course and take on debt to cover tuition and living costs. The degree path only starts to catch up once the graduate is working and earning more than the apprentice — if it catches up at all within your chosen horizon.
Does this account for pensions?
No — this calculator compares take-home cash only. It does not model employer pension contributions, which can differ between graduate schemes and apprenticeships, or any difference in job security, progression, or non-financial benefits between the two paths.
Why might the student loan balance not matter much?
UK student loans are repaid as a percentage of income above a threshold and are written off after 30–40 years depending on the plan. Many graduates never repay the balance in full, so the headline debt figure can matter less than the ongoing monthly deduction from take-home pay. See our student loan guide for more detail.