Student Loans 2012

setmefree2

Lokolo wrote: »

*sigh*

Yes *sigh* indeed.

If you think students ending up with loans that cost RPI plus 3% are getting a good deal then I give up.

The_One_Who

setmefree2 wrote: »

Yes *sigh* indeed.

If you think students ending up with loans that cost RPI plus 3% are getting a good deal then I give up.

What alternatives do the students have?

Lokolo

setmefree2 wrote: »

Yes *sigh* indeed.

If you think students ending up with loans that cost RPI plus 3% are getting a good deal then I give up.

could*

........

littlepinkstars44

setmefree2 wrote: »

Hi little pinks stars

It is not about luck. Some parents have a responsibilty to pay for their kids' maintenance. It's not optional.
This is from the Government website:-

http://www.direct.gov.uk/en/EducationAndLearning/UniversityAndHigherEducation/StudentFinance/Parentsandpartners/DG_171587

It's not luck, it's not optional - it's a parent's responsiblity. That is the system.

You say it is not optional - i like how you have copied the quote from the website but have took out the word *MAY* as in some parents may have to...not all, like you are suggesting.


When i filled out my student loan forms, there has never been any mention of parental support or contributions.

From the student loan company: "If your parents’ income is less than £24,275 a year, we will not expect them to make a contribution"

here: http://www.student-support-saas.gov.uk/_forms/info_guide_web_2010.pdf

And yes my mum earns much less than this figure a year, and i don't live with my dad so his salary isn't even taken into consideration. Just because you have the means to throw money at your kids doesn't always mean you should.

melancholly

setmefree2 wrote: »

I'm not saying students should or should not take the money. But people should be informed as to what the cost of these SLs really are over their life.

just as i'm saying that they should know all the aspects of the T&Cs that are very advantageous compared to other loans!

it's about the whole picture and hopefully all the opinions on here will contribute to that.

if the loan is the only way to get a degree and a degree is the only route in certain careers, i don't see what a discussion RPI plus or minus any percentage is going to achieve! this is what the system is. it isn't changing.

students in big debt is bad. that's a given. but it's unavoidable unless they have very wealthy parents (who are prepared to contribute to fees as well as maintenance, which isn't always the case!). the loan system isn't terrible when you consider the repayment terms (yes, it means you pay it for a long time, but it also means you're not crippled with massive repayments straight after graduation as it's a percentage of earnings..... again; it's the whole system that needs to be looked at, not just the totals)

i'd have liked a completely different way of HE funding, but this is what everyone has to work with..... maybe people who were negative at what students were protesting for (ignoring the rent a mob contingent and their behaviour) will now start to realise why this isn't the amazing deal that it was sold as! but it isn't a total disaster either. everything in government, at some point, ends up as an unhappy compromise it seems!

setmefree2

littlepinkstars44 wrote: »

You say it is not optional - i like how you have copied the quote from the website but have took out the word *MAY* as in some parents may have to...not all, like you are suggesting.


When i filled out my student loan forms, there has never been any mention of parental support or contributions.

From the student loan company: "If your parents’ income is less than £24,275 a year, we will not expect them to make a contribution"

here: http://www.student-support-saas.gov.uk/_forms/info_guide_web_2010.pdf

And yes my mum earns much less than this figure a year, and i don't live with my dad so his salary isn't even taken into consideration. Just because you have the means to throw money at your kids doesn't always mean you should.

Hi little pink stars

I think if you'd read the whole thread you would appreciate that I never said that all parents have to contribute. I am fully aware that some parents don't have to give their kids anything and that the kids of those parents receive the full complement of loans and also grants. My point was that it is not optional for some parents and that it is not optional for me, which is why I highlighted what I did.

So, what are you saying?

Are you saying that I shouldn't give my kids any money even though that is the system?

How do you expect my kids to live on £3k?

Why do you think that you should get £6k to live on and my kids only get £3K?

Do you think it's fair that I pay a lot of tax and then get asked to contribute to my kids education?

Do you think it's fair that I pay a lot of tax and then get attacked for contributing to my kids education?

setmefree2

melancholly wrote: »

just as i'm saying that they should know all the aspects of the T&Cs that are very advantageous compared to other loans!

Totally agree. Students and their parents should know the true cost of these loans and weigh up all factors.

Oldernotwiser

setmefree2 wrote: »

Many posters on this thread don't seem to be parents, so they may well have a VI (vested interest) in students taking on loans. I, for one, would be interested to know what those VIs are?

Considering that the people who disagree with you are students,academics and a retired careers adviser, it's hard to see which of us could have a vested interest in anybody doing anything!

You, on the other hand are an accountant who's advising students and their parents (if I've understood you correctly) to take on substantial commercial loans which will have to be repaid regardless of personal circumstances. You may not have a vested interest but it seems to me to be highly dubious advice from a finance professional.

Also, you still haven't addressed my points about student loans not needing to be repaid in changing circumstances where commercial loans would have to be paid regardless.

littlepinkstars44

setmefree2 wrote: »

Hi little pink stars


How do you expect my kids to live on £3k?

Why do you think that you should get £6k to live on and my kids only get £3K?

Do you think it's fair that I pay a lot of tax and then get asked to contribute to my kids education?

Do you think it's fair that I pay a lot of tax and then get attacked for contributing to my kids education?

£3k is easy to live on. uni is not for a full year, it is only 24 weeks! I don't live on £6k, my loan works out at just over £4k, and i work for anything extra i need. Tell your son to get a job if he needs extra cash.

The_One_Who

Setmefree, you still haven't answered what alternatives the students have. We all know the system isn't perfect, and it never will be.