Cyclone Posted February 20, 2018 Share Posted February 20, 2018 That is kind of what already happens. Under the new fee system, the more you earn the higher percentage interest you pay on your student loans. It is the rich subsidising the education of the poor. Where is that interest going? Aren't these loans to be sold off to private companies, so it's the 'moderate income' (not rich) paying more towards corporate profits, at a disproportionately high interest rate. Link to comment Share on other sites More sharing options...
ENG601PM Posted February 20, 2018 Author Share Posted February 20, 2018 disproportionately high interest rate. Disproportionate to what? Link to comment Share on other sites More sharing options...
Obelix Posted February 20, 2018 Share Posted February 20, 2018 The argument is presumably that the education is what allows them to earn more. The fact is that higher earners already pay more in tax though, we have a (relatively) progressive system of taxation, so there is no reason to add an additional burden onto graduates IMO. It makes a move to means testing for a service, which to my mind is a step too far. Fundamentally a university course is a service thats bought and should be priced at cost likie any other commodity. You would end up with people paying more in petrol duty because they earn more or pay more to access dental services if you followed this route down... Ultimately it's not treated the same way as revenue from taxation nor should it be. How to fund it though - I should say rather than poke holes in the system... We need graduates for UK PLC to survive and propser. As such the funding for that should be met from central Govt - why this is different to compulsory education I have no idea... Funding for the course (not living costs) is provided from central govt backed by taxes. We all benefit. If the Govt is negotiating fees then hopefully it can get a better deal than individual students. Once the Govt has bought the seats it can offer them out to the populance en masse who can choose which ones they want and there you go. If a course is full or over subscribed then they can defer to the next year if desired and they will get first place in the one they want. Living costs are funded not through a loan scheme as now, but an attachment to the NI number so you can pay it down through income tax adjustments. Done at cost, you can draw whats needed. Govt can choose to fund people from disadvanged backgrounds by removal or reduction of the defeict on the account. Link to comment Share on other sites More sharing options...
ENG601PM Posted February 20, 2018 Author Share Posted February 20, 2018 You don't care because you're right wing and wish the NHS to fail through underfunding so that it can be sold off. You do talk some rubbish. An all encompassing NHS free at the point of use is a superb concept which deserves better. I also happen to think that will be best delivered by the private sector within a regulatory and delivery framework set down by central government which is in turn monitored and administered by the private sector. But you haven't thought about it that hard have you. I could go on but I fear that you are already dribbling furious sweat beads onto your keyboard. Link to comment Share on other sites More sharing options...
truman Posted February 20, 2018 Share Posted February 20, 2018 It makes a move to means testing for a service, which to my mind is a step too far. Fundamentally a university course is a service thats bought and should be priced at cost likie any other commodity. You would end up with people paying more in petrol duty because they earn more or pay more to access dental services if you followed this route down... Ultimately it's not treated the same way as revenue from taxation nor should it be. How to fund it though - I should say rather than poke holes in the system... We need graduates for UK PLC to survive and propser. As such the funding for that should be met from central Govt - why this is different to compulsory education I have no idea... Funding for the course (not living costs) is provided from central govt backed by taxes. We all benefit. If the Govt is negotiating fees then hopefully it can get a better deal than individual students. Once the Govt has bought the seats it can offer them out to the populance en masse who can choose which ones they want and there you go. If a course is full or over subscribed then they can defer to the next year if desired and they will get first place in the one they want. Living costs are funded not through a loan scheme as now, but an attachment to the NI number so you can pay it down through income tax adjustments. Done at cost, you can draw whats needed. Govt can choose to fund people from disadvanged backgrounds by removal or reduction of the defeict on the account. Although,to play DA,if education is a commodity aren't the educated a commodity also? If that's the case then why pay to "grow our own" when we can import the ones we need? Link to comment Share on other sites More sharing options...
Anna B Posted February 20, 2018 Share Posted February 20, 2018 That is kind of what already happens. Under the new fee system, the more you earn the higher percentage interest you pay on your student loans. It is the rich subsidising the education of the poor. Re: your post in the 'Labour party' thread.. An educated population is to the benefit of everyone surely? Greater income means greater tax imput which also benefits everyone, and the poor (and middle income earners) are not burdened with thousands of poundsworth of debt. Link to comment Share on other sites More sharing options...
ENG601PM Posted February 20, 2018 Author Share Posted February 20, 2018 Re: your post in the 'Labour party' thread.. An educated population is to the benefit of everyone surely? Greater income means greater tax imput which also benefits everyone, and the poor (and middle income earners) are not burdened with thousands of poundsworth of debt. Yet your 19 year old ditch digger is still paying for the 19 year old's good time at uni and their higher future earnings. * * excluding sports science and artists Link to comment Share on other sites More sharing options...
truman Posted February 20, 2018 Share Posted February 20, 2018 Yet your 19 year old ditch digger is still paying for the 19 year old's good time at uni and their higher future earnings. * * excluding sports science and artists If said ditch digger shoves his spade into his foot he'll be glad that he's helped pay for the surgeon's course won't he? Link to comment Share on other sites More sharing options...
I1L2T3 Posted February 20, 2018 Share Posted February 20, 2018 Why should someone earning more than someone else pay more for the education? You wouldnt expect them to pay more for a can of beans, or a textbook, or a car or a house now would you? It also is unreasonable for those who start doing a degree later in life, or those who are retired or those who are not intending to work again, or have independant means... I can't really think of any worse way to collect it TBH. Whilst the current loan scheme has problems it is at least as fair as possible. It just need an internal market among the universities to develop. However whilst there are always more students than places they will just charge maximum fees as they can always fill the spaces. ---------- Post added 20-02-2018 at 11:02 ---------- There will also be a large disparity for those in and out of state - fees at CalTech for example are much lower for those resident in California.... They will have had more education, and more chance of earning a higher salary off the back of that. Seems fair to me, and it smooths the costs to the government of providing that education with guaranteed and highly predictable additional revenue for decades. Link to comment Share on other sites More sharing options...
ENG601PM Posted February 20, 2018 Author Share Posted February 20, 2018 If said ditch digger shoves his spade into his foot he'll be glad that he's helped pay for the surgeon's course won't he? Yes sahib, most grateful, very glad to be helping you in your day, may I go now sahib, I have memsahib's shoes to be cleaning. Link to comment Share on other sites More sharing options...
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