MSE News: Student loan repayment costs to rise

edited 30 November -1 at 1:00AM in Student Money Saving
17 replies 3.4K views
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  • I think a lot of this is to discourage students taking up courses where the degree isn't of much use. I hear rumours of degree courses in Jordan.

    And if you're thinking the place or in the place NO I mean Jordan the television former large breasted nude model Katie Price.

    Don't laugh in a society where a B&B owner can no longer bar non married couples because it's against their religion or where an asylum seeker can claim £120,000 a year in benefits - anything is possible.

    So many people are going to university these days that it is getting to the point where you need a degree to flip burgers in McDonalds.

    No one is being forced to go to University but if you do perhaps a course that has some direct use with the career you want might get you a wage where the loan would be paid back in the first 2 years.

  • tyler80tyler80 Forumite
    364 Posts
    With the introduction of the new fee structure has anyone heard whether the repayment threshold for existing post-1998 loans will remain at 15k?
  • melanchollymelancholly Forumite
    7.5K Posts
    tyler80 wrote: »
    With the introduction of the new fee structure has anyone heard whether the repayment threshold for existing post-1998 loans will remain at 15k?
    nothing about the new system for new students will change the details for those already with loans.
    :happyhear
  • melanchollymelancholly Forumite
    7.5K Posts
    rickbonar wrote: »
    I think a lot of this is to discourage students taking up courses where the degree isn't of much use. I hear rumours of degree courses in Jordan.

    And if you're thinking the place or in the place NO I mean Jordan the television former large breasted nude model Katie Price.

    Don't laugh in a society where a B&B owner can no longer bar non married couples because it's against their religion or where an asylum seeker can claim £120,000 a year in benefits - anything is possible.

    So many people are going to university these days that it is getting to the point where you need a degree to flip burgers in McDonalds.

    No one is being forced to go to University but if you do perhaps a course that has some direct use with the career you want might get you a wage where the loan would be paid back in the first 2 years.
    so many things i want to write at the same time...

    a country where a B&B owner isn't allowed to have a business which is inherently discriminative? that's a good thing in most people's eyes.

    asylum seekers cannot claim JSA, income support or housing benefit (but why let facts get in the way of a bit of xenophobia)

    the point of university isn't about getting into a highly paid job... believe it or not, it can be a good thing to study things further just for the love of the subject..... not everything is about money (thank goodness, or we wouldn't have social workers, teachers, firemen, volunteers, nurses etc - or even researchers into medical research!)

    there are almost no jobs where students will be able to pay back £60K (as the loans may well be under the new system) in under two years. it's completely impractical and nonsensical - and since the government is pondering early repayment charges, could be a very expensive idea.

    the facts about what uni courses include, what students do and how student finance works (or indeed the benefit system!) are not best found in the daily mail!
    :happyhear
  • tyler80tyler80 Forumite
    364 Posts
    nothing about the new system for new students will change the details for those already with loans

    That's a shame, I was hoping for a higher threshold. It's already been moved once, so I thought it was a possibility it might rise again. I don't know if there's any criteria set out for when the threshold is moved. Surely in 30 years time it's not still going to be at 15k?
  • JoodleJoodle Forumite
    16 Posts
    If I were to consider extra repayments on my student loan - how would I go about setting this up for post-1998 loan?
    Thanks,
  • How come all public servants pensions are in the process of having their pensions increases linked by the CPI rate (lower than the RPI rate), when money that earns interest to the government is calculated by the RPI. My son has finished his 4 year degree this year with a loan debt of around 19,000 pounds. These interest rate figures increase will mean that if the government wishes young people to pay in to a pension earlier, buy a house, spend money so the country can prosper is laughing. A 5% interest rate will mean roughly 1000 pounds a year increase, if he fails to get a job above 15,000 pounds the intrest accumulates. Just over 15,000 and the repayment is 1350 pounds, meaning he will essentially pay off 350 pounds. It a rip off. All the MP's who voted for this bill had free education, they are using these fees to keep the masses from becoming educated as they did at no cost to themselves.
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