The Alvin Hall Fan Club

mirko

seabright wrote: »

The only thing I wasn't sure about was his suggestion that a student's education related debt was "an investment in their future". I can sort of see what he's saying, plus I think he has an American point of view on it, but I've been saving £100 per month for my daughter's univeristy education, so she can (hopefully) graduate without debt.

I am 30 and paid off my 12k student debt in January of this year (graduated at 21). I have a Computer Science degree and work in software so my degree was certainly an investment in my future. (It was worth 12k)

The thing with student debt is that even if you were to save £100 a year she'd still be better off getting all the student loans she could - and then put them in a savings account as the interest on the student loan is currently 0%.

I still don't agree that students should leave university with such high levels of debt, but the truth is, as it comes out at source from your payroll, when you earn over a threshold - think it's 15k? - you don't really notice it too much.

The student debt you have is different to "normal debt" as you only have to pay it back when you can afford to.

Most important (to pay off now!) debts:
1. Store/Credit card
2. Car loan
3. Mortagage
4. Student debt

It's very, very nice when you pay it off though!

Topher

The exact interest rate you pay depends on when you started university.
Old Style Mortgage type:
Who's got them? Anyone who started higher education between 1990 and 1997.
Current interest rate? -0.4%
Interest rate from 1 Sept? It's likely to be 4.4%


New "Income" Type:
Who's got them? Current students and anyone who started during or after 1998.
Current interest rate? 0%
Interest rate from 1 Sept? It should be the Bank of England base rate + 1% point, or 4.4%; whichever is the lower of the two. If base rate stays at what it is now, it'll revert to 1.5%.

Francesanne

I love Alvin & he's been my money saving hero for many years.

mirko

Topher wrote: »

The exact interest rate you pay depends on when you started university.
Old Style Mortgage type:
Who's got them? Anyone who started higher education between 1990 and 1997.
Current interest rate? -0.4%
Interest rate from 1 Sept? It's likely to be 4.4%


New "Income" Type:
Who's got them? Current students and anyone who started during or after 1998.
Current interest rate? 0%
Interest rate from 1 Sept? It should be the Bank of England base rate + 1% point, or 4.4%; whichever is the lower of the two. If base rate stays at what it is now, it'll revert to 1.5%.

That's a good point. I started in '98. The year that grants were scrapped I believe! I like the look of -0.4%

The_Thrilla

Penelope_Penguin wrote: »

Please can someone point me to the podcast, I can't find it on the R4 website

Go to

http://www.bbc.co.uk/radio4/programmes/a-z/player


Go down the A-Z list till you find "Alvin Hall's Generations of Money." (under A not H) Click on the blue title, then click on where it says "Listen Now."

The_Thrilla

Regarding the Canadian programme, there are some episodes on YouTube.

The title is Til Debt Do Us Part, with only one L. Two Ls is a comedy show.

I'm watching Til Debt now.

The lady who presents the show, Gail Vaz-Oxlade, has a website:

http://www.gailvazoxlade.com/