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MSE News: Students still confused by new loans system
Former_MSE_Helen
Posts: 2,382 Forumite
"Students are stumped by the new university tuition fees and loans system coming in this month, new research shows ..."
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TBH I think it's stupid questioning 14-16 year olds on Student Finance.
When I was 14 why on earth would I be thinking about university?? I hadn't even chosen by GCSEs by then!!
Do the same questionnaire on students that are in sixth form/college onwards, then we can see.0 -
It's hardly surprising they're confused when they're being thoroughly misled.
Their constantly being told about the amount they're borrowing and they don't have to pay it back until they earn over xyz and it'll only be this small amount a month.
But in reality some of them are going to be paying huge amounts back - the MSE table shows that someone earning 40K is going to be paying 100K+ for their degree.
It's not what people are borrowing that counts it's what they have to pay back and students need to start rocking up to university and start asking "what am I going to get for my 100K"0 -
There's a lot of good information out there on the repayments side of things though, and the context of which awards are given hasn't really changed at all compared to previous years.
Unfortunately, some side seem to have a desire to scaremonger, and that will be what causes the confusion.0 -
Andy_Davies wrote: »It's not what people are borrowing that counts it's what they have to pay back and students need to start rocking up to university and start asking "what am I going to get for my 100K"
Not quite sure why people would think that...
If I buy a house for £150k on a 25 year mortgage at 5%, I would pay back £226k.... not sure I would ever be thinking "Oh I wonder if its worth £226k"...
I agree £100k is a lot of money now, but in 30 years £100k would be the price of an apple.0 -
Andy_Davies wrote: »It's hardly surprising they're confused when they're being thoroughly misled.
Their constantly being told about the amount they're borrowing and they don't have to pay it back until they earn over xyz and it'll only be this small amount a month.
But in reality some of them are going to be paying huge amounts back - the MSE table shows that someone earning 40K is going to be paying 100K+ for their degree.
It's not what people are borrowing that counts it's what they have to pay back and students need to start rocking up to university and start asking "what am I going to get for my 100K"
Think of all the money and effort they could save by just buying a degree on the internet.;)0 -
"Whether you support the changes or not".
We are now one of the lowest contributors in the OECD to tertiary education from public money. And the blog shows that people have been put off Uni by the changes. And I agree that they will often be those from "non-traditional" backgrounds.
So how can people still support the changes? This is a tragedy.0 -
PlasticMan wrote: »"Whether you support the changes or not".
We are now one of the lowest contributors in the OECD to tertiary education from public money. And the blog shows that people have been put off Uni by the changes. And I agree that they will often be those from "non-traditional" backgrounds.
So how can people still support the changes? This is a tragedy.
The tragedy is that we're aiming at having such a high percentage of young people going into HE. If we restricted the numbers of students attending university, not only would standards rise but there would be a better chance of supporting those who do go.
And, by the way, higher education is not the same thing as tertiary education so your reference is irrelevant. The poor funding of tertiary education is indeed a scandal but a totally separate question from that which is being discussed here..0 -
"61% of 14-18 year-olds admitted the changes had made them think harder about whether to go to university"
So 39% of 14-18 year-olds are morons. How does it not even make them think about it?0 -
"I never went to university, I don't know what they do there, but I hear graduates make good money, so I will sell my house to send my children there, even if they are mediocre at school and have no interest in anything, except shopping and hanging out."
Stop pandering to the moaning me-too aspirations. Create more scholarships, and help those who deserve help because they demonstrate ability and inclination. The rich can afford it regardless.
You can give every hot dog stand a Michelin star, it's still gristle and starch, but now you have to pay £9,000 a year for the Michelin star.0 -
They aren't confused - they are ignorant. Big difference. (Though as said, at that age they shouldn't really be expected to know anyway).
The way the student loans work have been explained perfectly, and there are numerous websites detailing how they work in very simple terms (including this one). I'm personally far more concerned that the supposed bright children who will be our future leaders/CEOs etc. are so indifferent to the 3 years that will probably shape their entire life to come they can't even be bothered to do a simple Google search on the topic than the system itself being too confusing!PlasticMan wrote: »"Whether you support the changes or not".
We are now one of the lowest contributors in the OECD to tertiary education from public money. And the blog shows that people have been put off Uni by the changes. And I agree that they will often be those from "non-traditional" backgrounds.
So how can people still support the changes? This is a tragedy.
If higher fees are enough to put you off from attending university then, in my opinion, you shouldn't really be going at all anyway. If £16.5k of easily repayable debt that you only have to pay when you have a decent wage is enough to make you scrap your entire career plans and drop out, would you have been motivated to survive 3 years of intensive study anyway? I don't see how it's remotely a tragedy."61% of 14-18 year-olds admitted the changes had made them think harder about whether to go to university"
So 39% of 14-18 year-olds are morons. How does it not even make them think about it?
How does that make them morons? I wouldn't think twice about the fees going up from £3k to £9k - my career choice requires a degree, so I will be getting a degree, end of. (Until we get to the silly American prices of £30k+ of course!)"I never went to university, I don't know what they do there, but I hear graduates make good money, so I will sell my house to send my children there, even if they are mediocre at school and have no interest in anything, except shopping and hanging out."
Stop pandering to the moaning me-too aspirations. Create more scholarships, and help those who deserve help because they demonstrate ability and inclination. The rich can afford it regardless.
You can give every hot dog stand a Michelin star, it's still gristle and starch, but now you have to pay £9,000 a year for the Michelin star.
The poor can afford it regardless. I went to university without a penny to my name (infact, I was £1000 in debt) and I survived on government grants and loans. Those loans and grants have actually become more generous with the new fees, making it even easier for the poorest to attend. Ironically, much of the problems with poor students are students from reasonably well-off families who get reduced government support but very little from their parents.0
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