| Govt plans to lower student loan repayment threshold 19:39 - Nov 13 with 4547 views | tractordownsouth |
potentially as low as 22k. This is a ridiculous decision. As someone who will (hopefully) graduate next year, I think it's fair to expect people to repay their loans (because higher education is a choice at the end of the day) but only once we reach an average income level - 27k is about right. As a generation, younger people already spend a much higher percentage of income on essentials (often paying someone else's mortgage in the form of rent), so to ask those who earn little more than the living wage to potentially stump up an extra £200-450 per year on top of the National Insurance increase is massively unfair. I shouldn't be surprised because it's yet another example of Johnson unilaterally trying to change the terms of an agreement.
It's blindingly obvious that as with the National Insurance rise, the government are getting the young working poor to foot the bill for the older generations, purely because they're the ones that vote for them. It's really not how a country should be governed.
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| Govt plans to lower student loan repayment threshold on 21:11 - Nov 13 with 2554 views | tractordownsouth |
Indeed. I think that was wrong too - the total fees were lower then but 19k is still not right IMO. [Post edited 13 Nov 2021 21:11]
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| Govt plans to lower student loan repayment threshold on 21:16 - Nov 13 with 2535 views | WD19 |
| Govt plans to lower student loan repayment threshold on 21:11 - Nov 13 by tractordownsouth |
Indeed. I think that was wrong too - the total fees were lower then but 19k is still not right IMO. [Post edited 13 Nov 2021 21:11]
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As things currently stand the majority of students will never actually pay off the loan before it is wiped from the record aged 60 or whatever. The interest rate is the real kicker and presumably that will go sky high over the next few years!? |  | | |
| Govt plans to lower student loan repayment threshold on 21:18 - Nov 13 with 2528 views | tractordownsouth |
| Govt plans to lower student loan repayment threshold on 21:16 - Nov 13 by WD19 |
As things currently stand the majority of students will never actually pay off the loan before it is wiped from the record aged 60 or whatever. The interest rate is the real kicker and presumably that will go sky high over the next few years!? |
The article says interest might be going down on the loans which is good but doesn’t compensate for the fact that many more low income workers will have to pay. | |
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| Govt plans to lower student loan repayment threshold on 21:21 - Nov 13 with 2514 views | Pinewoodblue |
This is a good read to fully understand the cost impact of student loans.
https://www.moneysavingexpert.com/students/student-loans-tuition-fees-changes/
To my mind the biggest problem isn’t the level after which you start making repayment. The biggest problem is that the rate of interest is too high. Currently it is RPI plus @ further % on top of that. It should’ve be plain and simple RPI with nothing added. |  |
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| Govt plans to lower student loan repayment threshold on 21:49 - Nov 13 with 2466 views | XYZ |
A 2% graduate tax paid by all graduates (i.e including us old fogies who had no fees, a grant and the dole in the holidays) would raise about the same and be much fairer. |  | | |
| Govt plans to lower student loan repayment threshold on 22:41 - Nov 13 with 2402 views | factual_blue |
| Govt plans to lower student loan repayment threshold on 21:49 - Nov 13 by XYZ |
A 2% graduate tax paid by all graduates (i.e including us old fogies who had no fees, a grant and the dole in the holidays) would raise about the same and be much fairer. |
I had to struggle on £485 for the year as a student in 1973.
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| Govt plans to lower student loan repayment threshold on 23:16 - Nov 13 with 2356 views | ArnoldMoorhen |
| Govt plans to lower student loan repayment threshold on 22:41 - Nov 13 by factual_blue |
I had to struggle on £485 for the year as a student in 1973.
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And you got Housing Benefit, and you qualified for Unemployment Benefit during the Summer if you didn't have a holiday job, and you paid no tuition fees.
And you are part of the generation which has seen a huge increase in house prices work to your favour.
So excuse me whilst I finish this concerto on my tiniest violin for you. | | | |
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| Govt plans to lower student loan repayment threshold on 23:21 - Nov 13 with 2326 views | footers |
Education of any kind, and at any level, should be free.
That is all. |  |
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| Govt plans to lower student loan repayment threshold on 23:22 - Nov 13 with 2324 views | footers |
| Govt plans to lower student loan repayment threshold on 23:16 - Nov 13 by ArnoldMoorhen |
And you got Housing Benefit, and you qualified for Unemployment Benefit during the Summer if you didn't have a holiday job, and you paid no tuition fees.
And you are part of the generation which has seen a huge increase in house prices work to your favour.
So excuse me whilst I finish this concerto on my tiniest violin for you. |
That was facters' mature course. He graduated about a hundred years before that. | |
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| Govt plans to lower student loan repayment threshold on 00:31 - Nov 14 with 2270 views | factual_blue |
| Govt plans to lower student loan repayment threshold on 23:16 - Nov 13 by ArnoldMoorhen |
And you got Housing Benefit, and you qualified for Unemployment Benefit during the Summer if you didn't have a holiday job, and you paid no tuition fees.
And you are part of the generation which has seen a huge increase in house prices work to your favour.
So excuse me whilst I finish this concerto on my tiniest violin for you. |
1. Housing Benefit didn't come into existence until 1982.
2. Unemployment Benefit was only payable if you had a contribution record. You could, however, get Supplementary Benefit if you didn't have a holiday job.
3. You're right on your last point though.
4. One out of three is pretty poor though.
5. Which violin concerto are you playing? Mozart's Violin Concerto No. 3 in G major (K.216) is a favourite of mine. | |
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| Govt plans to lower student loan repayment threshold on 00:32 - Nov 14 with 2267 views | factual_blue |
| Govt plans to lower student loan repayment threshold on 23:22 - Nov 13 by footers |
That was facters' mature course. He graduated about a hundred years before that. |
Have you ever matriculated? Or do you always walk like that? | |
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| Govt plans to lower student loan repayment threshold on 01:11 - Nov 14 with 2247 views | thelingting |
| Govt plans to lower student loan repayment threshold on 22:41 - Nov 13 by factual_blue |
I had to struggle on £485 for the year as a student in 1973.
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That's equivalent to £6000 now adjusted for inflation, which is very similar if not more than a lot of students receive these days as well as being charged £9250 a year on top with ridiculous interest fees on them resulting in most cases, a 9% additional tax on their income for the next 30 years.
Not to mention the cost of living has increased at a higher rate than income has probably means you were actually better off then you think and students today are often the opposite with much worse outcomes after they graduate. | | | |
| Govt plans to lower student loan repayment threshold on 02:09 - Nov 14 with 2221 views | XYZ |
| Govt plans to lower student loan repayment threshold on 00:31 - Nov 14 by factual_blue |
1. Housing Benefit didn't come into existence until 1982.
2. Unemployment Benefit was only payable if you had a contribution record. You could, however, get Supplementary Benefit if you didn't have a holiday job.
3. You're right on your last point though.
4. One out of three is pretty poor though.
5. Which violin concerto are you playing? Mozart's Violin Concerto No. 3 in G major (K.216) is a favourite of mine. |
"4. One out of three is pretty poor though."
You did well becoming a civil servant rather than pursuing a career writing songs for Meatloaf. [Post edited 14 Nov 2021 2:10]
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| Govt plans to lower student loan repayment threshold on 07:32 - Nov 14 with 2124 views | itfcjoe |
It’s all a bit of a mess, when I went to Uni in early 2000s the loan ended up about £3k a year and you had to pay it off when earning over £15k at 11% of earnings over that threshold - so most of my friends have paid them off and did so relatively quickly.
The loans when from £3k a year to £9k a year, but thresholds went up and end points came down so it’s now almost impossible to pay them off. Even changing this makes no difference to the fact no one will pay it off so it ends up a political football and those with them are always going to be in a weak position.
I think they should be paid off at a lower level, but that the amounts of the loans should be much lower - there should be a realistic chance to pay them off |  |
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| Govt plans to lower student loan repayment threshold on 08:28 - Nov 14 with 1964 views | C_HealyIsAPleasure |
| Govt plans to lower student loan repayment threshold on 23:21 - Nov 13 by footers |
Education of any kind, and at any level, should be free.
That is all. |
If you say so Van Wilder |  |
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| Govt plans to lower student loan repayment threshold on 08:53 - Nov 14 with 1913 views | chicoazul |
Well if everyone is going to go to Uni then it needs to be paid for somehow. I think the current structure is about right; it’s not in any way like a traditional debt.
There should be some bearing down on accommodation costs and it certainly doesn’t seem fair for students to be paying 100% of fees for lectures delivered remotely. YouTube isn’t university. |  |
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| Govt plans to lower student loan repayment threshold on 09:03 - Nov 14 with 1910 views | Plums |
| Govt plans to lower student loan repayment threshold on 08:53 - Nov 14 by chicoazul |
Well if everyone is going to go to Uni then it needs to be paid for somehow. I think the current structure is about right; it’s not in any way like a traditional debt.
There should be some bearing down on accommodation costs and it certainly doesn’t seem fair for students to be paying 100% of fees for lectures delivered remotely. YouTube isn’t university. |
‘YouTube isn’t university’. Correct but the remote learning provided by universities isn’t YouTube either. It costs more in time and cash terms to deliver online learning than in person but that doesn’t fit the “HE is bad’ media narrative so is ignored.
My son is currently looking at universities and the cost of accommodation is high and the means tested maintenance top up required from parents is largely hidden and comes as a surprise to many. What that actually means is that a lot of 18 undergrads aren’t bearing the full cost of it anyway. |  |
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| Govt plans to lower student loan repayment threshold on 09:05 - Nov 14 with 1905 views | tractordownsouth |
| Govt plans to lower student loan repayment threshold on 08:53 - Nov 14 by chicoazul |
Well if everyone is going to go to Uni then it needs to be paid for somehow. I think the current structure is about right; it’s not in any way like a traditional debt.
There should be some bearing down on accommodation costs and it certainly doesn’t seem fair for students to be paying 100% of fees for lectures delivered remotely. YouTube isn’t university. |
I’m happy to pay it back above a reasonable income level, but 22k on top of the NI hikes, on top of the fact that I’ll probably never own a house, is making generational inequality worse and worse. | |
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| Govt plans to lower student loan repayment threshold on 09:08 - Nov 14 with 1893 views | tractordownsouth |
| Govt plans to lower student loan repayment threshold on 23:21 - Nov 13 by footers |
Education of any kind, and at any level, should be free.
That is all. |
It would be nice, but I don’t see it as a progressive idea. Higher education is a choice so I think it’s fair for students to pay their loan back once they’re financially stable. Removing fees altogether would only benefit those who will pay off the majority of their loans, who are those on the highest incomes. It would effectively become a middle class tax subsidy.
Healthcare is different obviously because it’s not a choice to need it. | |
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| Govt plans to lower student loan repayment threshold on 09:10 - Nov 14 with 1872 views | chicoazul |
| Govt plans to lower student loan repayment threshold on 09:05 - Nov 14 by tractordownsouth |
I’m happy to pay it back above a reasonable income level, but 22k on top of the NI hikes, on top of the fact that I’ll probably never own a house, is making generational inequality worse and worse. |
Hoping to not sound patronising but I do feel your pain brother. Young people have it very hard now, it’s always been difficult but these are now pure existential problems. If you can’t even think about doing the basics of life in the UK like having a stable home (owned or council) getting married starting a family - all things Boomers and Gen X have pretty much taken for granted - then what’s the point in going to uni anyway? | |
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| Govt plans to lower student loan repayment threshold on 09:28 - Nov 14 with 1847 views | Oldboy |
I think it should be repaid as soon as they are in employment. If a non student gets a loan for a car (needed to get to work etc.) they will start repayment straight away. They choose to go to University for a better way of life, so shouldn't be treated differently. |  | | |
| Govt plans to lower student loan repayment threshold on 09:47 - Nov 14 with 1817 views | Plums |
| Govt plans to lower student loan repayment threshold on 09:28 - Nov 14 by Oldboy |
I think it should be repaid as soon as they are in employment. If a non student gets a loan for a car (needed to get to work etc.) they will start repayment straight away. They choose to go to University for a better way of life, so shouldn't be treated differently. |
It seems a fair point but isn’t really. A graduate is likely to need a loan for a car etc too which will start immediately. Banks offer graduate loans to get you started in the workplace. Mine needed to be paid off long before I’d made much of a dent in my actual student loan. [Post edited 14 Nov 2021 13:01]
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| Govt plans to lower student loan repayment threshold on 10:05 - Nov 14 with 1747 views | WD19 |
| Govt plans to lower student loan repayment threshold on 09:47 - Nov 14 by Plums |
It seems a fair point but isn’t really. A graduate is likely to need a loan for a car etc too which will start immediately. Banks offer graduate loans to get you started in the workplace. Mine needed to be paid off long before I’d made much of a dent in my actual student loan. [Post edited 14 Nov 2021 13:01]
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The whole setup is a hot mess. Universities are now businesses first and seats of education second. My eldest is currently visiting potential institutions and I have seen some that are ripping out perfectly serviceable (and relatively new) facilities and replacing them (again) purely to appeal to new customers. There is no educational merit in the changes.
In a similar vein, finding student accommodation was hard in my day. These days there are providers falling over themselves to provide shiny new accommodation to students because they see the opportunity. Given that the majority of loans will never be paid back what we are seeing is effectively the taxpayer funding a building and commercial lets business. | | | |
| Govt plans to lower student loan repayment threshold on 10:23 - Nov 14 with 1693 views | Geomorph |
| Govt plans to lower student loan repayment threshold on 21:49 - Nov 13 by XYZ |
A 2% graduate tax paid by all graduates (i.e including us old fogies who had no fees, a grant and the dole in the holidays) would raise about the same and be much fairer. |
Summer dole dosh was nice I must admit |  | | |
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