Failed minimum wage?

I've already said there are exceptions, and of course medicine is one of them.

 

But a lot of degrees are not that rigorous, and do not all attract 'the brightest and the best.' Kids go in for them not knowing what they will do with them, but think it will help them get a job. (At a cost of £50,000 average, it's a lot of money to end up in a call centre.) Those that do succeed in getting a 'graduate job' might end up in things like the Civil Service or management roles.

 

Kids who do know what they want to do might be as well going straight into their desired business with an apprenticeship. But I also regret the passing of being able to work your way up the career ladder from the 'shop floor,' especially in things like the police. Experience cannot be learned in a classroom.

OMG Anna, can you please stop talking rubbish. If you are going to give an opinion, then at least not misrepresent the truth.

You inference that the cost of a university degree is £50,000 in the form of a student loan is fundamental false. It is NOT a cost. It is not a debt like all other debts. It is specifically structured to be operated as a form of graduate tax by the following:

You don’t pay anything towards it unless you earn over £25,000. Even if you earn £40,000 you only payback £112/month. Let’s be honest, if you’re earning £40,000 a year, you won’t be missing £112 a month.

The debt is written off after 25 years if any amount is outstanding.

Most crucially of all, it DOES NOT affect your credit rating in anyway. It will not show up on any report whatsoever. So it will not adversely affect mortgage or loan applications.

The student loan does not need to be paid off and the payments are absolutely tiny compared to your salary as to be inconsequential.

Once again Anna, speaking with no idea whatsoever.

OMG Anna, can you please stop talking rubbish. If you are going to give an opinion, then at least not misrepresent the truth.

 

You inference that the cost of a university degree is £50,000 in the form of a student loan is fundamental false. It is NOT a cost. It is not a debt like all other debts. It is specifically structured to be operated as a form of graduate tax by the following:

 

You don’t pay anything towards it unless you earn over £25,000. Even if you earn £40,000 you only payback £112/month. Let’s be honest, if you’re earning £40,000 a year, you won’t be missing £112 a month.

 

The debt is written off after 25 years if any amount is outstanding.

 

Most crucially of all, it DOES NOT affect your credit rating in anyway. It will not show up on any report whatsoever. So it will not adversely affect mortgage or loan applications.

 

The student loan does not need to be paid off and the payments are absolutely tiny compared to your salary as to be inconsequential.

 

Once again Anna, speaking with no idea whatsoever.

Whereas you have no idea of real life whatsoever. Have you not realised with this government, what it says and what it does are two different things.

Of course it costs £50,000.- £9,000 a year x 3 (or 4) plus living expenses. Who pays it if not the student?

As for writing off outstanding amounts, either the taxpayer pays it, or it's more funny money, ie not real money, a bit ike the National debt etc which can be used /manipulated to suit whatever purpose the government wants, , and for which, for example, we now have unnecessary 'austerity.'

Whereas you have no idea of real life whatsoever. Have you not realised with this government, what it says and what it does are two different things.

 

Of course it costs £50,000.- £9,000 a year x 3 (or 4) plus living expenses. Who pays it if not the student?

 

As for writing off outstanding amounts, either the taxpayer pays it, or it's more funny money, ie not real money, a bit ike the National debt etc which can be used /manipulated to suit whatever purpose the government wants, , and for which, for example, we now have unnecessary 'austerity.'

What are you talking about? The student in the majority of cases will not repay their student loan in full. If your argument is that university education should not be subsidised by the state, then say so. Instead of FALSELY inferring the cost of a degree to the student will always run into the tens of thousands. It was never intended that the student loans will be paid off. It was always the government’s intent to have a form of graduate tax for university students while subsidising them but they just implemented it in a very roundabout way. Not to mention, the more affluent dodges this altogether by virtue of not needing a loan.

You have a degree, I am sure you can do the maths to decide if say an average student with an average salary, how long will it take to pay off £50,000?

What are you talking about? The student in the majority of cases will not repay their student loan in full. If your argument is that university education should not be subsidised by the state, then say so. Instead of FALSELY inferring the cost of a degree to the student will always run into the tens of thousands. It was never intended that the student loans will be paid off. It was always the government’s intent to have a form of graduate tax for university students while subsidising them but they just implemented it in a very roundabout way. Not to mention, the more affluent dodges this altogether by virtue of not needing a loan.

 

You have a degree, I am sure you can do the maths to decide if say an average student with an average salary, how long will it take to pay off £50,000?

I simply would not have a degree from my background, if I had to pay today's fees. I was lucky enough to study when a University education was 'free' to all.

It's telling that Universities are now struggling to fill courses, as youngsters are put off going by the cost of £9,000 a year

And, while we're at it, why are our University fees the highest in the world?

https://www.independent.co.uk/news/education/education-news/thousands-put-off-by-university-tuition-fees-8025990.html

http://www.dailymail.co.uk/news/article-2718542/Universities-struggle-courses-Falling-A-Level-grades-shift-away-traditional-exams-mean-thousands-places-not-filled.html

https://www.telegraph.co.uk/education/educationnews/11801902/Clearing-Top-British-universities-dropping-grades-as-they-struggle-to-fill-places.html

I simply would not have a degree from my background, if I had to pay today's fees. I was lucky enough to study when a University education was 'free' to all.

 

It's telling that Universities are now struggling to fill courses, as youngsters are put off going by the cost of £9,000 a year

 

And, while we're at it, why are our University fees the highest in the world?

 

https://www.independent.co.uk/news/education/education-news/thousands-put-off-by-university-tuition-fees-8025990.html

http://www.dailymail.co.uk/news/article-2718542/Universities-struggle-courses-Falling-A-Level-grades-shift-away-traditional-exams-mean-thousands-places-not-filled.html

https://www.telegraph.co.uk/education/educationnews/11801902/Clearing-Top-British-universities-dropping-grades-as-they-struggle-to-fill-places.html

To put it bluntly, those students being put off do not deserve to go to university if they do not fully understand the financial implications. It really is not much of a burden at all as I have previously explained.

Also, the US university tuition fees are far higher than ours.

OMG Anna, can you please stop talking rubbish. If you are going to give an opinion, then at least not misrepresent the truth.

 

You inference that the cost of a university degree is £50,000 in the form of a student loan is fundamental false. It is NOT a cost. It is not a debt like all other debts. It is specifically structured to be operated as a form of graduate tax by the following:

 

You don’t pay anything towards it unless you earn over £25,000. Even if you earn £40,000 you only payback £112/month. Let’s be honest, if you’re earning £40,000 a year, you won’t be missing £112 a month.

 

The debt is written off after 25 years if any amount is outstanding.

 

Most crucially of all, it DOES NOT affect your credit rating in anyway. It will not show up on any report whatsoever. So it will not adversely affect mortgage or loan applications.

 

The student loan does not need to be paid off and the payments are absolutely tiny compared to your salary as to be inconsequential.

 

Once again Anna, speaking with no idea whatsoever.

£25000 is only post 2012 intake. I feel if you are going to accuse others of misrepresenting truth get the facts straight.

---------- Post added 22-08-2018 at 07:19 ----------

To put it bluntly, those students being put off do not deserve to go to university if they do not fully understand the financial implications. It really is not much of a burden at all as I have previously explained.

 

Also, the US university tuition fees are far higher than ours.

£120 off paypacket with all other stoppages plus travel isn't much of a burden??? Sure about that.

---------- Post added 22-08-2018 at 07:24 ----------

I've already said there are exceptions, and of course medicine is one of them.

 

But a lot of degrees are not that rigorous, and do not all attract 'the brightest and the best.' Kids go in for them not knowing what they will do with them, but think it will help them get a job. (At a cost of £50,000 average, it's a lot of money to end up in a call centre.) Those that do succeed in getting a 'graduate job' might end up in things like the Civil Service or management roles.

 

Kids who do know what they want to do might be as well going straight into their desired business with an apprenticeship. But I also regret the passing of being able to work your way up the career ladder from the 'shop floor,' especially in things like the police. Experience cannot be learned in a classroom.

Agree 100%, too many degrees at middling to poor institutions & most aren't worth the fees & simply do not enhance career prospects.

There's too much widening of uni places for profit per head. Instead the government should be looking at a range of education options including technical apprenticeship,vocational & professional degree linked to industry.

£25000 is only post 2012 intake. I feel if you are going to accuse others of misrepresenting truth get the facts straight.

Yes because it will not apply to all the prospective students going to university now right?

If you’re going to jump into a conversation, then at least understand what is being talked about. Thanks.

Yes because it will not apply to all the prospective students going to university now right?

 

If you’re going to jump into a conversation, then at least understand what is being talked about. Thanks.

So what about the millions of students lumbered with debt on £18000 threshold?? It doesn't automatically jump to 25 grand.

---------- Post added 22-08-2018 at 07:39 ----------

And do you know how high interest rates are? Guessing probably not.

So what about the millions of students lumbered with debt on £18000 threshold?? It doesn't automatically jump to 25 grand.

 

---------- Post added 22-08-2018 at 07:39 ----------

 

And do you know how high interest rates are? Guessing probably not.

You obviously don’t know how student loans work. Interest rates are not relevant if there is no requirement to repay the whole loan and the payments are linked to your salary. It’s fundamentally a graduate tax and nothing more.

You obviously don’t know how student loans work. Interest rates are not relevant if there is no requirement to repay the whole loan and the payments are linked to your salary. It’s fundamentally a graduate tax and nothing more.

Yeah I do, the student is basically in debt over life time as interest rates are so high. You wrongly seem to think its not a debt that is repaid.

---------- Post added 22-08-2018 at 09:07 ----------

The vast majority aren't even on 25000 threshold plan. Millions been paying back at 15000 then 18000, it recently went up to 19000 summat.

---------- Post added 22-08-2018 at 09:08 ----------

The only reasons debt doesn't get repaid 100% of applicants is wages are so low & humans simply run out of working life!!!

---------- Post added 22-08-2018 at 09:17 ----------

Simple maths test: Student graduates 2018.On a £30000 average salary with a £50000 student debt @ 7% interest.

a) how much loan is the student paying back every year net?

b) how many years will it take to pay back loan?

Call it a debt or call it a tax, it operates in much the same way, it's written off at 55 unlike most debts and there's a minimum earning threshold below which you won't repay anything unlike other debts.

They don't run out of working life, it gets written off.

You are correct that many students at university now will simply never pay off the student loan and it will be written off.

(The specifics vary depending on when the loan was taken)

https://blog.moneysavingexpert.com/2017/05/will-student-loan-written-off/

Yeah I do, the student is basically in debt over life time as interest rates are so high. You wrongly seem to think its not a debt that is repaid.

 

---------- Post added 22-08-2018 at 09:07 ----------

 

The vast majority aren't even on 25000 threshold plan. Millions been paying back at 15000 then 18000, it recently went up to 19000 summat.

 

---------- Post added 22-08-2018 at 09:08 ----------

 

The only reasons debt doesn't get repaid 100% of applicants is wages are so low & humans simply run out of working life!!!

 

---------- Post added 22-08-2018 at 09:17 ----------

 

Simple maths test: Student graduates 2018.On a £30000 average salary with a £50000 student debt @ 7% interest.

a) how much loan is the student paying back every year net?

b) how many years will it take to pay back loan?

a) 37x12= £444

b) it doesn’t get repaid back it gets written off after 25 years.

So you only pay back £11k on a £50k loan plus interest. What exactly is the problem?

So £37 a month in repayments is too much for a salary of £30k. Ok