Demis Swallow admits that he “did think about university” but that he’s always been more interested in “learning by doing”.

On Thursday morning, 18-year-old Demis will officially receive his results from his electrical installation diploma, alongside thousands of other students, and is currently completing a portfolio for a National Vocational Qualification (NVQ) in the subject.

While doing this – which will take one or two years – Demis will earn £75 a day, while many his age take out tuition fee loans of £9,790 per year to go to university.

While those going to university from England end up with student debts totaling £50,000 or more, Demis will qualify debt-free, and having been paid.

Asked if avoiding university debt was a big plus of an apprenticeship, he agrees.

“It’s definitely one of the advantages for me. With an apprenticeship, you’re earning while you learn and building experience at the same time,” he says.

“University is the right route for lots of people, but I liked the idea of being able to start working, develop practical skills and earn money rather than waiting until after studying to start my career.”

Demis is completing his apprenticeship with Doctor Electric, a firm based in Northampton, Northamptonshire.

He admits there’s “no guarantee” he will earn more having gone into a trade compared to if he had opted for a university route, but he says it will give him multiple career options.

“There are different ways to progress, whether that’s taking on more responsibility, becoming self-employed or eventually running your own business,” he says.

Demis’s decision comes at a time when the financial burden placed on those who go to university is under increased scrutiny.

Those who enter higher education from England now take on Plan 5 student loans which they must start repaying once they earn £25,000.

Leaving university with debt of £50,000 to £60,000 is common, and unlike with older loans, the borrowing is only wiped after 40 years, rather than 30, meaning some borrowers face making repayments until their 60s.

In contrast, those who take on apprenticeships can earn from a younger age, and avoid the debt.

Michael Steckler, CEO at Tradify – job management software for trades professionals – said: “For a long time, university has been seen as the traditional route to a successful career. But it’s far from the only option. Our data shows tradespeople across the UK building multi-million-pound businesses, creating jobs, and growing successful companies from the ground up.”

Analysis by the company has found that average revenue across six major trades has increased 14 per cent year-on-year, and that many who start as sole traders moving to run larger companies.

Industry forecasts also suggest a shortfall of almost one million workers in some trades by 2032.

“The trades shouldn’t be seen as an alternative to academic success, but as another route to achieving real financial success – one that can lead not only to skilled employment, but to business ownership and long-term growth,” Steckler said.

Last month, Prime Minister Andy Burnham revealed he will tell schools across England to adapt curriculums to the needs of local businesses as part of a drive aimed at tackling the jobs crisis for young people.

And last week The i Paper revealed that 191,500 people are repaying student loans despite never having finished a degree.

Ian Futcher, financial planner at Quilter said that from a financial planning perspective, those deciding whether to go to university or take an apprenticeship should consider the longer-term costs, opportunities and likely outcomes of each path.

“University remains a valuable investment for many people, particularly where a degree is required for a chosen profession or can significantly improve long-term earning potential.

“However, prospective students should go into the decision with a clear understanding of the financial commitment involved, not just tuition fees but accommodation, living expenses and the impact student loan repayments could have on disposable income later in life.

“Equally, apprenticeships can offer a compelling route into employment by allowing young people to gain qualifications while earning an income and building workplace experience. The financial advantage is not simply avoiding student debt, but having the opportunity to begin saving, investing and contributing to a pension at an earlier stage.”

Tom Allingham, student loans expert at Save the Student, said: “Young people must be presented with the facts about their future options rather than opinion or speculation. If they’re sure that university is the right choice for them, then they should know that a student loan remains by far the best way to fund it.

“Conversely, if they think they can get to where they want in life without a degree, and aren’t concerned about the social side of university, then they should also be reassured that that’s an equally valid choice.”