Remember when the government raised tuition fees to £9k a year?

scorza

scorza

scorza

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http://www.theguardian.com/education/2014/mar/21/student-fees-policy-costing-more

The proportion of graduates failing to pay back student loans is increasing at such a rate that the Treasury is approaching the point at which it will get zero financial reward from the government's policy of tripling tuition fees to £9,000 a year.

New official forecasts suggest the write-off costs have reached 45% of the £10bn in student loans made each year, all but nullifying any savings to the public purse made following the introduction of the new fee system.
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I remember saying at the time that I didn't think the government's sums added up, and they'd have to change the Ts&Cs in the near future. Any 15 & 16 year olds wanting to go to university should prepare for harsher student loan terms in future.
 
Yep, it was obvious to a blind wombat that all they were doing was moving numbers from one column to another and the actual recovered value wasn't going to change.
 
Big surprise.

The only thing it did was effectively price people out of going for further education.

A CDL of 10k could cover fees and living expenses before. Up the fees to 9k and well, it's easy to see where the problem is.

Social mobility my arse.
 
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To be honest, it would be more effective to ditch tuition fees and have a say, 5% graduate tax whilst you earn above £20k or something. Only problem is the media would catch on about it being a real tax - as opposed to the not-a-tax-but-basically-a-tax we currently have
 
Well they have it easy! My repayments at £106pm and i'm just on 30K

The system is better for them compared to us why are they moaning:rolleyes:

If there not working for more than 21k (not repaying) than thats current job markets fault / the degree choice.

They have to 55?(i think) to repay the loan, how can 45% default on whole amount their maths is wrong, just because their not earning now doesn't mean they wont in future.

I'm for free education but that article aload tosh, With a tax your always paying it.

least with a loan you have choice to work hard pay it off quicker. Im sure 5% to retirement is worse than 9% over 15-25 years repayment

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Well blow me down with a feather, I'd never have expected that!

/sarcasm

Pretty obvious that if you aim for 50% of people going to University, it isn't physically possible for all those 50% of the population to be on £30-40K+ a year jobs, in order to be able to afford to pay back their student loans.

At the moment it looks like I'll just about pay it back if things stay on track, but if interest rates start to climb again then I'll be facing the same never-ending circle of my annual payments only clearing that years' interest payments, and leaving my moderate £16k debt intact. Which I quite frankly, couldn't give 2 hoots about!
 
wkingsnorth said:
To be honest, it would be more effective to ditch tuition fees and have a say, 5% graduate tax whilst you earn above £20k or something. Only problem is the media would catch on about it being a real tax - as opposed to the not-a-tax-but-basically-a-tax we currently have
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That penalises everyone who at the moment will be paying back their loan in full.
 
I'm looking forward to being told I can pay back a student loan and pay an extra graduate tax at the same time. That'll be great.
 
this is retarded surely. the effect of this change wont be realised for many many many many many more years. iirc it took what 1/2 years for this to have come into effect so lets say those who went to uni in 2012 were the first to have the higher uni fees. those people are still in uni.
 
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They probably only did it to create more places for overseas students anyway, Brits can just work in poundland for their Jobseekers allowance to boost the economy.
 
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Student loloan, I don't even read the letters for mine. The shredder munches them up. Gets paid off slowly each month automatically
 
So the government gives you loads of cheap money.

If you get a decent job you pay it back slowly. If you don't get a decent job then it was just free money.

And people actually want to complain about this?
 
Skeeter said:
So the government gives you loads of cheap money.

If you get a decent job you pay it back slowly. If you don't get a decent job then it was just free money.

And people actually want to complain about this?
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You mean if you don't pay it back you get a free education. Something everyone should have a right too anyway.
 
Skeeter said:
So the government gives you loads of cheap money.

If you get a decent job you pay it back slowly. If you don't get a decent job then it was just free money.

And people actually want to complain about this?
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So it's more of successfully student tax. Don't they already pay tax at a marginal rate?

If it's a good idea, and a tax on graduates, why not apply it retrospectively. Everyone who graduated after 1945, and earns over £21k pays in at the same rate until they've paid £9k a year for their studies?

Seems much fairer to me.
 
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"andy" said:
You mean if you don't pay it back you get a free education. Something everyone should have a right too anyway.
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Everyone does get a free education up to the age of 18. Education is a right, further education is a privilege.

Unfortunately the entitled masses believe that everyone should automatically be allowed to go to university without paying a penny for the privilege because they've been told that they can get a degree and will do far better afterwards. However all this does is increase the number of '2nd rate' qualifications and diminish the value of having a degree in the job market. And because more people go to university it has to be funded more by the individual, leaving large numbers of young people with poor degrees and masses of debt.
 
I'm waiting on the tories/lib dems wriggling out of this one. I'm sure I heard several of their own MPs raising this concern at the time now I think about it!
 
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