MSE News: Tuition fees to hit £9,000 as Government wins vote

gauly

setmefree2 wrote: »

OMG - imagine not being able to pay back £18k in 30 years. See my signature

Well, the debt isn't just £18k it also includes living costs of £5k or so a year, so £33k minimum. Also, this computation was based upon paying 9% a year on earnings over £21k. Obviously it is possible to pay it back quicker but there is going to be some kind of penalty for doing so. And it will have a real rate of interest too - I think RPI + 3% at its worst.

According to a study based on the pay of current graduates done by the Department for Business, Innovation and Skills only the top 33% of earners will pay back their loans in 30 years.

alja

hmm, not impressed, thankfully I graduated this year...however I'm yet to hear about whether the interest rates will go up for me..

can I just say, that not ALL students actually go wasting their student money on drinking every night etc and splashing their loaned cash on crap...I lived at home whilst at uni to save money & do the course I wanted at a uni near me, and did not live the 'university lifestyle' of partying every night...I had the odd night out once in a while with non-student friends, and some students just aren't into all that partying and expensive things! so please don't just put all students into one box! we are not all 'wasters', some actually aspire to be great people for this country!

£21,000 is now when you start paying back these loans, terrible! the average wage is about £25,000....surely they should start paying it back when these students start actually earning a 'good' wage that they will 'apparently' get to earn at some point in their lifetime due to being graduates...not when they're still on below average wages?!.......whilst trying to save for mortgages, etc?!...

I'm thankful of graduating this year & being someone who is very very careful with their money! Hoping to not feel the pinch too much when I try to get a mortgage one day! shall wait and see...I don't hold my breath...

GeneHunt_2

harryhillys wrote: »

That would have been an option, however it would have cost money as the government would have to invest money in areas it knows it wouldn't get the money back...to employers. This whole fees thing is a very clever move by government as despite putting in the resource upfront it has a guaranteed repayment for years to come from students to balance this out. Make no mistake this is a long term tax on a large proportion of an upcoming generation.....a tax by stealth, and I personally believe this is to help offset the upcoming explosion of funding an ageing society.

Yup the Babyboomers expect everyone else to pay for them as usual...:cool:

[Deleted User]

Anyone have any idea how this will affect MA Social Work courses? One of the uni's I have applied to have offered to consider me for 2011 instead of 2012 but had no idea how the changes would effect the fees and funding.