Student Loan - How much debt after uni?

mglover070588 said:
What age does the loan get wiped off at?
I can't imagine it being before you are 40, as then the government has a SERIOUS money issue on their hands as people won't be paying it back.
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depending on when you started your course, it gets wiped after twenty years*, or when you retire.
*iirc
 
I'll have a positive net worth when I leave uni, £16,800 loan of which £7,800 in savings accounts and £3,600 of grants also. Plus money from other sources. :p
 
The government paid everyones uni fees until any of retard could go to a University (I mean A uni, not a good one), and now they can't pay for everyone.

So Mr Example from the below average intelligence family goes to uni, does an easy degree in something like marketing or history or maybe handbag making with scrotal studies. He gets a grant each year worth 3-4k because his parents earn a small amount. At the of the degree, when he can't find a job he says 'Oh degrees aren't what they used to be!'. He works at ASDA full time, which is exactly what he would have done if he hadn't gone to uni, and he earns 12k and doesn't pay his maintenance loan back.....ever.

Where as Mr Dentist-student-from-a-nice-area's parents pay a lot of tax, then have to find the money to help their son through University. So his parents pay for him to go, then out their tax pay for someone else to go to study binge drinking at Derby uni.

Mr Dentist gets no grants, and at the end of his degree has lots of loan paying off to look forward too.

That is the reason many of us, who do courses that actually involve hard work get shafted for uni fees:(

EDIT: for sp:)
 
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My student loan is coming off at about £100 per month, it just automatically got set up but I think you can defer it even further if you need too.

If I have enough spare cash built up next year I think I will just pay it off and be done with it, it was 4ks worth so is probably down to <3k now.
 
mglover070588 said:
The government paid everyones uni fees until any of retard could go to a University (I mean A uni, not a good one), and now they can't pay for everyone.

So Mr Example from the below average intelligence family goes to uni, does an easy degree in something like marketing or history or maybe handbag making with scrotal studies. He gets a grant each year worth 3-4k because his parents earn a small amount. At the of the degree, when he can't find a job he says 'Oh degrees aren't what they used to be!'. He works at ASDA full time, which is exactly what he would have done if he hadn't gone to uni, and he earns 12k and doesn't pay his maintenance loan back.....ever.

Where as Mr Dentist-student-from-a-nice-area's parents pay a lot of tax, then have to find the money to help their son through University. So his parents pay for him to go, then out their tax pay for someone else to go to study binge drinking at Derby uni.

Mr Dentist gets no grants, and at the end of his degree has lots of loan paying off to look forward too.

That is the reason many of us, who do courses that actually involve hard work get shafted for uni fees:(

EDIT: for sp:)
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I like that example.
 
mglover070588 said:
T
So Mr Example from the below average intelligence family goes to uni, does an easy degree in something like marketing or history
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Sorry, when was history an unrespected or easy degree?

Edit: The irony of your post is that i'd expect that sort of thing comming from someone from a 'below average intelligence' family.
 
History tends to lead neatly to Masters in International Relations/Politics and similar, or alternatively into law conversion courses. Of course, a 2:1 degree in history from any of the Russell Group universities will also qualify you for most of the graduate training schemes of a lot of top companies.
 
I had the full amount of loan, couldn't have gone to uni else. And I worked the day after term finished right up until the day before term started every time.

I have about 9k outstanding now, it'll be paid off in a few years, I have a mortgage and they didn't care about the student loan debt.

Personally I wouldn't really worry about it, once you're earning it'll come down. Yeah it's annoying coming out of your pay each month, but as it does depend on what you earn it shouldn't be too harsh a hit. Although I cried when I did a stint contracting and saw how much they were taking off me a week :(
 
DampCat said:
My girlfriend graduated with 0 debt. She worked her whole way through, but lived at home.
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If I'd have been living at home I'd have been ok, pretty much all the loan money went on accomodation fees with all my other spending money being made from working. As well as working everyday in holidays also had a job whilst at uni. It wasn't much but the money from it paid for all my food for the week with a little left over.

Although the job did me and my wife good, we now never have to pay to go to any gigs at the uni (and we left over 5 years ago now) which saves a few quid :) Got Razorlight and Feeder this week, that's almost 50 quid each we'll not be spending.
 
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