Student Loans 2012

setmefree2

At A Glance : The White Paper

http://www.bbc.co.uk/news/education-13939525

setmefree2

From the Independent re overpaying

Under today's reforms graduates would be allowed to pay back their loans early, but the Government said it will consult on how to do this.

!!!!!! how long do you have to wait to get a straight answer from these people?!

Lokolo

I do not understand how they are going to get information about graduates.

I worked for my university in second year doing the "National Student Survey", where we contacted by phone, email or letter to ask them questions about post education, whether they were in employment, in education or unemployed through choice or unemployed through not choice and other questions, basically what the white paper is wanting on student information. The response was around 30%! People obviously do want to say if they are unemployed, people don't want to tell salaries a lot of the time.

Lokolo

setmefree2 wrote: »

From the Independent re overpaying

!!!!!! how long do you have to wait to get a straight answer from these people?!

It's odd that. The current repayment system is pretty easy to over pay so not sure how "not sure how to do it" is the answer, seems like they are trying to think of a way to do it without making the obvious route of, leave it how it is now.

melancholly

setmefree2 wrote: »

!!!!!! how long do you have to wait to get a straight answer from these people?!

well they'd better come up with an answer so that people know the system before they have to apply.... madness that it isn't included...... it has to be time for the minister to go. just when i think they can't faff around any longer, they do. it just can't continue like this.

although i'm half surprised they didn't release the white paper on Thursday...

kayr_2

Just been reading the consultation document on http://www.scribd.com/doc/58881540/11-1047-Consultation-on-Early-Repayment as this is something I am very interested in (mostly because I am totally against penalties for early repayment). I shall be sending in my thoughts soon but we have until September 20. There is an opportunity to comment on the general strategy (until Sep 20 as well) and also on specific bits of it.

I suspect they are aware that there will be a lot of opposition to mortgage style penalties so are trying to gauge opinion before shooting themselves in the foot politically. Even more than they have done already.

setmefree2

kayr wrote: »

Just been reading the consultation document on http://www.scribd.com/doc/58881540/11-1047-Consultation-on-Early-Repayment

Thanks for that.

Under the new system, which will be a form of graduate tax,

The case against a more progressive mechanism is that:

It would impose an additional administrative burden on the SLC

What a stupid waste of money this whole sudent loan thing is - could their be a more expensive way to collect a "tax"

It adds complexity for borrowers and their families

A mechanism that discourages and significantly reduces early repayment could negatively impact on Government’s ability to monetise the student loan book.

and we wouldn't want that would we

setmefree2

kayr wrote: »

Just been reading the consultation document on http://www.scribd.com/doc/58881540/11-1047-Consultation-on-Early-Repayment as this is something I am very interested in (mostly because I am totally against penalties for early repayment). I shall be sending in my thoughts soon but we have until September 20. There is an opportunity to comment on the general strategy (until Sep 20 as well) and also on specific bits of it.

I suspect they are aware that there will be a lot of opposition to mortgage style penalties so are trying to gauge opinion before shooting themselves in the foot politically. Even more than they have done already.

Well I'm thoroughly depressed after reading that, I really am.

The amount of effort and thought that has gone into stiching these kids up is so dispiriting....:o

setmefree2

This bit is confirmed too

Partial grants that currently go to families with incomes of £50,000 will now go only to those on up to £42,600, it was confirmed yesterday. Those students will have to take out loans instead.

kayr_2

setmefree2 wrote: »

Well I'm thoroughly depressed after reading that, I really am.

So was I, but thought I'd give it a couple of days to sink in, in case I was still depressed after the OCR debacle. Don't think I'm going to cheer up really. All the more reason to send them some well argued comments.