Head to head
Both on the same terms: £9,790 tuition and £8,000 maintenance a year on Plan 5, median DfE LEO earnings, each measured against the no-degree route for that field.
Ahead of the no-degree route after
Ahead of the no-degree route after
Physics overtakes its no-degree alternative after 10 years. Software Engineering never does on median earnings, which makes Physics the clearer financial case of the two. On automation they diverge: Physics scores 8/10 for AI-resilience against 5/10 for Software Engineering. Over a career that may matter more than the break-even year. Repayments differ too — £117,339 over the life of the Software Engineering loan against £104,799 for Physics. The higher figure is usually the higher earner, not the worse deal.
This compares money only. It says nothing about whether you would be any good at either, or want to spend a career doing it — and the no-degree comparison is an estimate, which is the figure both verdicts are most sensitive to.
These use default costs. Your tuition, maintenance, repayment plan and where you land in the earnings range all move the answer.