Student Loans 2012

Lokolo

gadgetmind wrote: »

As someone who hires a loads of grads, particularly those we engage with at careers fairs, I disagree. However, I don't know how other companies work.

I went to the NEC Graduate Fair and it was a complete waste of time. All I got was some business cards on where to apply (which google could have done for me). Most of the recruiters there were HR so didn't know specifics about the individual areas as well.

And the movable subway was overpriced, we went to the services and got a Burger King instead

chaostheory

Data frm BBC

New figures obtained by the BBC show just how much some people owe to the Student Loans Company. Money Box reveals that the top 20 outstanding student debts add up to more than a million pounds.

:eek::eek::eek::eek::eek: and that's under the old system!!!!!

Lokolo

chaostheory wrote: »

Data frm BBC



:eek::eek::eek::eek::eek: and that's under the old system!!!!!

To be fair thats not surprising. A medicine course will take upto 7 years. In London you can get quite a lot of loans. All adds up.

wintersunshine

Ministers were today warned of a looming university funding crisis after Essex became the latest institution to announce flat rate tuition fees of £9,000.

http://www.telegraph.co.uk/education/educationnews/8398620/University-funding-warning-as-Essex-sets-9000-fees.html

I find it hard to believe that students will be willing to get into debt to the tune of £40k to £50k to go to the University of Essex. I guess we'll have to wait and see...:cool:

I know I wouldn't.

devildog

No quotes to show for it but on the news yesterday(or maybe day before!) it said that Manchester was also going to be charging £9,000 in fees with a third of it going towards helping 'poorer students'!!

dizzie

I am also frustrated about the whole university/tuition fee saga. Clearly, as many universities as possible are going to want to mark themselves out as being "exceptional". As some have said already - to charge less than the maximum £9k per annum may lead prospective students to conclude that the quality of their courses is not as high as other universities...so in reality, universities are going to charge the maximum becuase they can, and then hide behind marketing reasons for doing so.

I agree with posters who do not believe that the aim of sending 50% of people off to university to gain a degree is a sound one! This simply encourages the overprovision of certain degree courses which do not lend themselves to graduate jobs afterwards. Of course, those choosing to study such courses may eventually end up in unrelated, non-graduate jobs, earning less than the threshold of £21k per year. What does this say to the taxpayer and the student?

" If you want to do a degree for interest's sake, even though there is a good chance that this will not enhance your career prospects - don't worry about it - the taxpayer will give it to you for free!"

I believe what is needed is a review of the available numbers of courses which should be amended in line with the demands of our economy.

Of course the government has based all of their sums on an average annual tuition fee of £7.5k - and I suspect that the average will be much higher than this. Even on the sums of £7.5k, the saving made to the taxpayer of raising these fees by such astronomical amounts is marginal (because of the cost of government borrowing and the certainty of written off loans in the future). Now it looks as though the government are having to revise their calculations based on a higher average and I wonder if there is really any benefit to the taxpayer at all!

....Hence we see the delay in the white paper. Well, that is what happens when a policy is rushed through which involves change on such a monumental scale!

And another thing - I still think that the fee apartheid to the English is appalling. The EU have been quick to tell Scotland that if they charge EU nationals from outside of the UK more than they charge their own home students (which of course is nothing), they will be acting illegally. Yet because of the the wording of the law, the English have no such protection from the EU. I strongly believe that law should have its basis in a principal...and not on a technicality.

I am not against charging students something to study and indeed feel that this is sensible and demonstrates commitment on behalf of the student. But for the government to do something so swiftly and radical as this and then to still be fumbling around over the details of the white paper (because they realise all their sums are going rather pear-shaped) is frankly nothing short of a fiasco.

setmefree2

A little bit from an Article in the FT

Aston latest university to seek maximum fees

Officials at the business department say the average fee chargeable at many of these institutions will be well below the headline maximum price. Some courses will be cheaper and many institutions will offer large fee discounts.

Universities experience only weak competitive pressure. Because of the government’s need to control costs, the number of places available to each institution is capped. Each university is allocated a quota of places to fill, which suppresses competition. The quotas impede the ability of new providers to undercut existing universities and prevent popular courses from expanding at the expense of unpopular ones.
To combat this problem, the government will introduce measures to inject competition into the sector. Institutions will need to enter a contest to win their share of places – a system that could allow the government to take places away from universities offering lower returns on fees.

http://www.ft.com/cms/s/0/370d8722-5625-11e0-8de9-00144feab49a.html#axzz1HXHz9I6a

devildog

Going back to Manchester's announcement that they are going to charge the full £9,000 for tuition fees, The Guardian says
"
Manchester said "a large number" of its students would qualify for bursaries of £3,000 a year and would have fees waived for one of the three years of their degree course".
So those from a less well off background are going to be handed £3,000 ayear (£9,000 total) and only be charged 2 years tuition (£18,000) so they basically will have a tuition fee debt of £9,000! Not to mention the full entitlement to grants etc.
How is that fair? Equal my a**!!

dizzie

Interesting devildog....what a p*ss take! Maybe I ought to take a career break if my kids go to uni, earn diddly squat, let my kids claim all the grants/bursaries/reductions on offer, whilst I put my feet up for three years.;)

I'm beginning to think that working hard and being frugal today to do the responsible thing and save for one's retirement and help your family out if needs be is a bit of a mug's game when all that happens is that you are penalised for it.

If they all set fees at £9k, I wonder if they are all going to be fighting over poorer students to fill their quota?

arsenalbarnie

dizzie wrote: »

Interesting devildog....what a p*ss take! Maybe I ought to take a career break if my kids go to uni, earn diddly squat, let my kids claim all the grants/bursaries/reductions on offer, whilst I put my feet up for three years.;)

I'm beginning to think that working hard and being frugal today to do the responsible thing and save for one's retirement and help your family out if needs be is a bit of a mug's game when all that happens is that you are penalised for it.

If they all set fees at £9k, I wonder if they are all going to be fighting over poorer students to fill their quota?

I have been reading this with great interest. I have three kids left to go to uni, two already there now. I think I will bribe the three into going to uni at the same time, whilst like you will put my feet up for three years and let them claim every benefit, grant loan and bursary going. That's if there are any unis left that haven't gone bust by then due to falling numbers and reduced govt investment.:(