Hi tzxn3, I thought you might like a UK opinion to be added to the mix here.
I'm 24, so unfortunately (for you, not for me!) I'm one of those annoying people that went through on the last year of the old old system when the tuition fees were low and there were grants for low income families (which I'm from). My sister (who is 18 months younger), went through on the system before yours, where the fees were £3000 and partially loaned, so she has more debt than me. I'm just telling you all of this so you know where I'm coming from with my reply. I'm going to title my responses to some of your comments to make it easier. I studied Geology, and my sister did Alternative Medicine, so we both have science backgrounds.
Is going to uni worth it?
I assume you're doing chemistry with the hopes of getting a job in the field after. If not, I'm going to stop you right there and tell you it's a waste of time! Chemistry degrees are very "vocational", in that you're going to learn a lot of specific info about chemistry things. As you seem to have noticed, British degrees are not like American degrees. You can't pick and choose your modules and you can't drop out early (although some courses will give you a diploma after two years if you decide to quit).
My housemate at uni was a chemist, and he loved his course, but it is hard work. He knew that he wanted to be a chemist afterwards though, and it did not take him very long to find work after graduating. If you get the option to do the 4 year Masters with a year in industry, take it! The wages in your fourth year (your year in industry) are tax-free (because you're a student) and he pretty much earnt back his student debts in that year! Plus, the year in industry gives you experience in the field and a reference for job hunting. It is well worth it, and more vocational sciences should offer this, in my opinion!
Despite Astra Zeneca cutting 1000+ jobs in the UK, I still think there is a strong science sector in the UK, and you should not have problems finding a job related to chemistry when you graduate, assuming you want to do this.
Should I go to a more esteemed uni?
Personally, I would say ignore all Americans on this issue [sorry, but read on to find out why!]. Whether you like it or not, Britain is still obsessed with class (it's more of an issue than racism!). One way to move social classes and demonstrate your versatility is to go to a prestigious university. Now, if you're commenting in these forums from your country estate in the home counties, you can ignore what I'm saying because you'll be fine! If you're from a working class or middle class background though, I personally think going to an older university will give you an extra boost on your CV. As an example, I went to Durham (I took my own advice very seriously!), and it's one of the first things people remark on when they see where I got my degree. (This is usually then followed by a discussion about how a relative of their's also went there and do I know such-and-such). Whether you like it or not, these things still matter in the UK.
I would add a caveat here though that you should not sacrifice the quality of your course for your university's reputation. Try to find a compromise. Using myself as an example again, Durham has an old and well-respected Geology and Geography dept (now separate), so I did not sacrifice anything by going there. One of my friends at uni had gone to Cambridge to do a Psychology degree, only to discover that Psychology at Cambridge isn't accredited (so she can't practice) and she had to go to Durham and do the whole course all over again. Do not do this! Courses are ranked yearly so you can have a look and see which universities are considered the best for your course.
Should I stay at home?
In my experience, people who stay at home during uni miss out on the "traditional" student life (drinking, late nights, embarrassing shenanigans, weeks with nothing to eat but pasta...). However, if you're planning to keep your head down and get excellent grades, then that shouldn't be a problem. I wouldn't recommend staying at home though. It's not that common in the UK and you miss out on a lot.
Personally, I would recommend joining a couple of clubs and working hard regardless of where you live. You need the socialising and to learn new skills alongside your course, and it bulks out your CV.
Jobs
I didn't work during term time, so I can't give advice on this, but I had friends that worked in bars and the money does help. However, they were history students and only had a couple of lectures a week. Chemistry has quite a full timetable and I wouldn't recommend it.
Working during the holidays is a must, though. I always found it easier to find work in my home town than in my uni town, as there were less students looking for work at the same time! I sent emails to companies in my degree area and offered my services (no job was too little. Even if I just spent a summer photocopying maps for someone, it still counts as work!). I also worked in a local bookshop at Christmas. I had experience in this so they were grateful with the help at a busy time. Other popular summer jobs amongst my friends were jobs abroad (don't drink it all if you go to Spain!), cleaners in hospitals, office temping (good wages usually) and factory work (monotonous but lots of hours = lots of pay).
Debts
Don't forget that British student loans are not the same as student loans in the U.S. The Student Loans Company (who belong to the Government and will give you your loans) will not start collecting on your debt until you're earning a minimum amount (currently £17500pa I think), and the interest on the loan is to match inflation, so it is not a traditional loan (they're not in it for profit). At the moment, the interest on student loans is matched to the inflation thing applied to state pensions, so that it is fair.
It's important, therefore, to realise that your debt as a UK student is not the same as the debt to a U.S student, and it's the best loan you're ever going to get. Because of the low interest rates, British financial advisors will always tell you to pay the minimum on this debt (which happens automatically when your tax goes out, if you're earning enough) and to put your money to other uses. For this reason, I do not consider my student loans as a debt. They are a tax I pay for my education, and it has no effect on my day-to-day life. Any payments I make happen automatically in my pay slip and I'm better off building my savings than paying off the loan early.
I hope this all helps!
