1) Travel time is sooooo annoying- if I were to repeat UMEP again I would have just listened to lectures online and I would have just went on campus for tutes (you can use your free periods to listen to lectures)
Also consider if you are going to a study centre, it will usually be a weekday (Tuesday, for me) and the followng day I usually had a SAC but I would usually get home at around 9:00 (usually brain-dead) and not wanting to do anymore studying! So do consider this! I know you won't notice any difference if you do a couple of late nights but, in the long run, you run the risk of burning out, esp before exams!
2) IMO it's much easier to get a H1 for a UMEP science subject than a 45+ in VCE (this is my opinion)
Therefore, unless you are absolutely sure this subject you are referring to will be in your Top 4 then I would advise you to do UMEP
If this subject will be in your Bottom 2 then do UMEP (less work to get 4.5+; seriously I did like half of the ONE practice exam they gave us in Sem 1 and 2 and got H1s for both semester). Also, I noticed you can cram full on for a uni subject and get good grades (not necessarily the same for VCE subjects
)
3) The difference between uni and VCE (again, in my opinion) is the AMOUNT they teach you. There is usually MORE that they teach you in uni within the 12-week period than two terms in VCE. That said, uni exams are usually easier than in VCE (I know this was the case for Biology) because it's usually memory-based than applying your knowledge to unknown situations.
To give you an example, for my Sem 2 UMEP Biol exam, there were easy quite a lot of marks available just by matching words to its definition.
The disadvantage at uni is there is NO study design; content in exam can come from ANYWHERE in lectures. For example, one of our questions in Sem 2, again, was "Insects composed how much of the world?" And there were like random figures listed- this percentage, however, was only briefly referred in a lecture. So, in this respect, uni exams can be hard.
4) On the other hand, it could motivate you- you would be thinking that you're doing a higher level Psychology subject than your competition, leading you to outperform them (think positively!)
5) tbh, you will not be losing a massive opportunity: aside from, experiencing uni life earlier- for example, this year, I don't feel daunted about going to uni because I know some uni jargon, how to navigate through the portal, the campus, etc- AND, of course, the friendships that you will make through the program