Student Loan Interest Rate Discussion



  • harryhound
    harryhound Posts: 2,662 Forumite
    edited 10 August 2009 at 12:20PM
    There are two types of people making money out of this situation. They are the sell to rent people who can buy cheaper houses, especially if they have no debts, a big deposit and can get a mortgage, that in part reflects the near zero base rate.

    The other type of people are the bankers who are borrowing very cheaply ( An elderly relative of mine was getting 0.5% on his large nest egg from a big bank) Bankers need the money because they have managed to destroy wealth on an unprecedented scale.

    The rest of us are seriously worse off as the real wealth of a country is represented by the value added by the industry of its citizens.
    As the number of employed citizens is dropping rapidly, I would not expect the value of the nation's output to be increasing, even in terms of the GBP fiat currency we use, which itself has been devalued by (say) 20% against a trade weighted average of our trading partners.

    If I were you I would concentrate on what you are going to do when the result of the next election signals the end to the current false economy.
    Are you ready to pay more tax and receive less in benefits?

    (Rant over for now:D).
  • surfsister
    surfsister Posts: 7,527 Forumite
    I've been Money Tipped!
    "We the undersigned petition the Prime Minister to pressure the treasury to honour its previous promise that student loans taken out after '98 will follow inflation."

    14,983 signatures keep 'em coming!
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