Tuition fee increase

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OpenToSuggestions

OpenToSuggestions

Soldato
Joined
5 Aug 2006
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11,433
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Derbyshire
I started my undergraduate degree the first year of the £3000 per year tuition fees came in (2006). The repayment is 9% over £15,000.
The 2012 onwards fees of £9000 you only pay back 9% over £21,000.

Firstly, what a stupid move by the government - Massive debts and less people will pay back any money and those who do pay it back will pay back far less before it is written off. This is going to result in a catastrophic hole in funds in the future.

It won't stop people from studying crap and even those on good courses are unlikely to pay it back due to the 30 year loan write-off.

Why on earth are people complaining about these new fees when you pay far less back?! University students will be far better off.
 
Well, given all the catastrophic problems caused over the past decade by excessive levels of debt, on both an individual and national level, I would rather not take the chance to see what this will mean in twenty years.
 
Its either a hole in fund or a hole in educated people, frankly the latter is more important.

More educated people usually means more taxes down the road, whether it be VAT or whatever.

If anything the only thing they did wrong was having no plan to support the private sector more, thus jobs being available for the new graduates to pay back their fees.

TL;DR. OP is a silly boy.
 
I'm considering jacking my job in a going to uni once I have bought my house and got that under control (inheritance, no mortgage required). I was going to go this year alongside my full time employment but my employer decided to go back on the deal, and with my father dying this year and inheriting a load of **** (incredibly disorganised man, died in sri lanka, nightmare family etc.) it's all been a bit much to consider uni. Next year mean mahooooooosive fees but I'm hoping my financial situation will be favourable for he cause.

The only thing is, what to study? I had my heart set on engineering but frankly I just don't think I'm up to it, my maths is appalling - I struggled with A level physics.

With regard to the student loans, I think that Naffa is correct in thinking that less people will go due to the potential of £30k + debt.
 
shoes said:
snip.
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I got a C in maths and a D in physics at Alevel.
I am now doing a PhD in engineering. Don't let your maths or physics put you off. They are important, but engineering is not hardcore maths.
My only advice is that it is better to do a foundation year if you need to before the degree. You will get into somewhere crap with very poor grades but the extra year to get in somewhere good is worth it.
 
The fact that the new deal is actually better for graduates than the current one seems to escape so many, I have to wonder if they are intelligent enough for uni at all...
 
Dolph said:
The fact that the new deal is actually better for graduates than the current one seems to escape so many, I have to wonder if they are intelligent enough for uni at all...
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Exactly this.

There's probably a thread on this in Speaker's corner that sums up all the arguments well :p

kd
 
UK-AL05 said:
Its not so good if you end up earning a lot, its better if you don't earn that much...
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Even if you started on mid 20s and moved up to mid 50s when you were 40, you still wouldn't pay it back.
Basically unless you are some a similar wage to a Medical Doctor, you won't pay the whole lot back.

It completely defies the point of the fee increase.
 
Dolph said:
The fact that the new deal is actually better for graduates than the current one seems to escape so many, I have to wonder if they are intelligent enough for uni at all...
Click to expand...

Beings as someone I know who really isn't the sharpest did a degree in Sociology at Staffordshire without even having Alevels, it proves any old 'tard can get some form of degree. Whether it is worth anything though is a whole different matter.
 
mglover070588 said:
I started my undergraduate degree the first year of the £3000 per year tuition fees came in (2006). The repayment is 9% over £15,000.
The 2012 onwards fees of £9000 you only pay back 9% over £21,000.

Firstly, what a stupid move by the government - Massive debts and less people will pay back any money and those who do pay it back will pay back far less before it is written off. This is going to result in a catastrophic hole in funds in the future.

It won't stop people from studying crap and even those on good courses are unlikely to pay it back due to the 30 year loan write-off.

Why on earth are people complaining about these new fees when you pay far less back?! University students will be far better off.
Click to expand...

Yes, poorer people will pay less back, rich people will pay MORE back, 9% of 21k is more than 9% of 15k, I went to uni and didn't break 15k in loans, more people will have loans of more than 21k now.

Previously uni's were HEAVILY subsidised by governments, the unis are basically getting no less or more than before, but more is coming from loans, for which the repayments from students will fund them, rather than government funding over the long term, its not stupid.

Rich pay more, poor pay less, people that don't go don't pay anything.

Currently, everyone pays even if you don't go, people who do go get loans and pay a bit more, but not that much and rich people who end up with superb jobs don't really end up paying that much more money back than poorer people.

Its pretty much a great system, as I've said from the start, great move, horrible horrible PR as most people just don't understand whats going on at all.
 
drunkenmaster said:
Yes, poorer people will pay less back, rich people will pay MORE back, 9% of 21k is more than 9% of 15k, I went to uni and didn't break 15k in loans, more people will have loans of more than 21k now.
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You massively missed the point.
The numbers I quoted are salaries before payback occurs, not the loan size.

Paying back 9% over 21k is much less than 9% over 15k.
 
mglover070588 said:
You massively missed the point.
The numbers I quoted are salaries before payback occurs, not the loan size.

Paying back 9% over 21k is much less than 9% over 15k.
Click to expand...

You didn't say wages anywhere in there, and I didn't bother to check the numbers, the rest stands, poorer people pay less back, rich people pay back a lot more than they would now, people who don't go to uni aren't subsidising those that do, at least anywhere near as dramatically.

The reasoning for paying back on a bigger wage is again to help poor people and increase subsidising by rich people, with 15k the baseline paying 10% of your wage back leaves you with embarassingly little to live on, its not like its hugely more at 21k but plenty of students do end up in crap jobs after uni, at least for a while, and it will make life much easier for those who can't find decent jobs, or those who take up almost intern like positions where they are craply paid to help them get to the job they actually want, rather than take whatever they can get because they have so little money to live on.

If you left uni previously and could only get an 18k a year job, you'd be making quite a bit below the average wage, and losing almost 1.8k of your pay to paying back loans. you'd be almost 2k better off under the new system if you end up in a very low paying job....... so helping poor people.

Probably the worst situation for people who want to enter education are people from very poor families, who then end up in a crap job after uni, now those people are the group who gain the most from the new system.
 
drunkenmaster said:
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It was in-your-face obvious that I was on about salaries. I wish I could sell common sense and make myself a few quid :p.

It should be mandatory for all students to pay back their University fees. It is a loan. You should not be able to rack up a debt with the intention of spending all of it and paying back none of it. If everyone paid back their loans then there would be much more money in the University system.

This 'hurts the poor' crap needs to stop. If you come from a bad background you are showered in several thousand pounds of free money every single year that you are at University.

My gripe is you go to University to then work on a checkout at Tesco then you have really missed the point, wasted your time and wasted thousands upon thousands of tax payer's money.
It should be 10% of anything over £10k salary in goes back in loans, to force people to think twice before they go and study 'event management' at Sheffield Hallam.
 
Check out this calculator

http://www.bbc.co.uk/news/education-14785676

For some at Imperial College like me £9k pa fees + 7.6k maintainance loan = 16.7k pa

For a 4 year course that is going to cost ~ £70k

Apart from medicine (which would be a 6 year course not 4) , theres nothing I can do which will result in me paying it back. I've tried all options.

So what are they thinking? How many people going to uni will get top jobs to actually pay it back.
 
AFAIK when people refer to poor people paying more than rich people they are talking about the life of the loan, which is correct - if you average 30k over your life you will pay more for your education than someone who averages 60k over their life because although the latter pays a greater amount of their income, they correspondingly pay off their loan faster.
 
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