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Student loan petition - please sign!
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kr15snw
Posts: 2,264 Forumite
Found this over on the freebies board and thought it may get some more signatures over here. Its to stop the interest rates going up dramatically.
http://forums.moneysavingexpert.com/showthread.html?t=489489
Enjoy!
http://forums.moneysavingexpert.com/showthread.html?t=489489
Enjoy!
Green and White Barmy Army!
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Comments
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well they're tied to inflation and you agreed to it and as these petitions serve little purpose and do little good I think you're wasting your time.0
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We agreed not knowing/realising/thinking about how high they could go. And todays news (that i posted in another post) about interest rates going as high as standard bank rates is rather disturbing and worrying![FONT=Arial, Helvetica, sans-serif]"The internet is a great way to get on the net."
- Bob Dole, Republican presidential candidate[/FONT]0 -
Is this rise in interest rates not a GOOD thing? Maybe im being abit blind towards something but as the economy stands this rise in interest rates should be beneficial:
- You do not start making larger payments. You still pay 9% of your income above £15000.
- Interest on savings is still higher than the new loan rate and is likely to increase further if inflation remains high. Therefore the longer you have a student loan the longer you will be making a profit by saving your money instead of overpaying.
- As the total amount of loan will increase for many students, they are more likely not to have paid off the full loan within 15 years so the loan will be written off and will not have to be repaid for some!They say you can't put a value on life... but I live it at half price!0 -
MercilessKiller wrote: »No one knew the exact details at the time of going to uni... (no one I knew anyway).....
I've not even started Uni yet and I already have a 5 year financial plan for my portfolio!
:rotfl: :rotfl: What this site does to you... :rotfl: :rotfl:They say you can't put a value on life... but I live it at half price!0 -
LOL u serious? Jeeeeez.
well I didn't learn about this site till I was at uni (i think!) Or at least not long before.
Thing is, us students get told NOTHING about student loans except "fill in these forms" from the head of year![FONT=Arial, Helvetica, sans-serif]"The internet is a great way to get on the net."
- Bob Dole, Republican presidential candidate[/FONT]0 -
Perhaps they assume that people going to university are intelligent and have enquiring minds?0
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You'll be happy to know indeed I'm not doing history or ecomonics. Network Computing is my speciality.
Out of interest why are you talking about inflation figures? I was talking about student loan interest rates when I started at University...
I agree not making payments till your income reaches £15k is an advantage.
A news article today mentioned how the interest rates, rather than follow current inflation on the current student rate, will "jump" to the bank rates and start going by that instead.... :x
So more interest, more to pay back, poorer students...[FONT=Arial, Helvetica, sans-serif]"The internet is a great way to get on the net."
- Bob Dole, Republican presidential candidate[/FONT]0 -
MercilessKiller wrote: »
Out of interest why are you talking about inflation figures? I was talking about student loan interest rates when I started at University...
Interest rates for student loans are based on the rate of inflation; didn't you know that?
"These loans accrue interest at the rate of inflation, which means that the amount repaid has the same value as the amount borrowed."(SLC)
Recently inflation rates have been very low, but they're now creeping up; I think that my comments about the rate of inflation in the not too distant past are quite relevant to the debate.0 -
nono I do know that it goes up with inflation yes...
what i'm debating is the NEW talks and discussions where they're going to "jump" the interest rates to standard bank rates, and then follow inflation.. get me? In other words moving up the interest rate in no relation to inflation...
Thats what I disagree with.[FONT=Arial, Helvetica, sans-serif]"The internet is a great way to get on the net."
- Bob Dole, Republican presidential candidate[/FONT]0 -
MercilessKiller wrote: »nono I do know that it goes up with inflation yes...
what i'm debating is the NEW talks and discussions where they're going to "jump" the interest rates to standard bank rates, and then follow inflation.. get me? In other words moving up the interest rate in no relation to inflation...
Thats what I disagree with.
They're not 'jumping to standard bank rates'. They are using the RPI measure of inflation instead of the CPI. Basically the government is admitting they are fudging CPI and RPI is the truer reflection of inflation.0
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