MSE News: Martin Lewis to head new student finance taskforce

in Student Money Saving
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This is the discussion thread for the following MSE News Story:

"The Independent Taskforce on Student Finance Information has the full support of Universities Minister David Willetts ..."
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  • Many will NEVER pay it all back. Many starting even on £25,000 salaries won't repay all owed within the 30 years, meaning you repay for much of your working life. The slight silver lining is it means for many there's no increased total cost by doing a £9k course than a £6k course.

    Where's the silver lining?

    If someone goes to university and does a worthwhile course that means they'll repay their loans and that's great. On the other hand someone doing a Mickey Mouse course might never repay their debt - who pays off the loan I wonder?

    Seems an odd situation where the taxpayer funds degrees with no value but not worthwhile degrees.

    I hope this is covered by the taskforce and that the financial value of university education is considered by students so they don't leave education bemused that employers don't seem to value their qualifications in the same way.
  • I have two academic sons in their teens contemplating university. I am looking at Europe for them where the fees are miniscule, the teaching is in English and they could come out with a good qualification and minor debt. I work with families where poverty is an issue. These kids are rightly afraid of debt and those who might once have gone on a full grant and no fees payable will now not go. What parent wants to encourage their children into taking on debt? What is this policy costing our country's future?
  • I think we just have to accept that this policy is happening. Yes we know what is bad about it and yes we can argue about it but unfortunately its here.

    Its good that Martin and co are basically here to explain the effects of this. I think its now time to work out how to deal with whats been forced upon students. I am a lucky one in that I started 2009 so my tution fees were 2k. I do feel very sorry for those whose fees are in reality going to be over 4x my fees. I do however think some students are at university for the alcohol and the fun, this is true, I know it I live in Leeds I see it every day! Perhaps this will sift through those who are there studying to get a good job that requires qualifications, to those who are studying a micky mouse degree.

    I do think university is a good experience for those who use it as a tool to grow up and learn how to live away from parents but I also think that going into work or some other form of training after a levels or GCSES can be just as good as a tool!
    Money money money.

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  • gadgetmindgadgetmind Forumite
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    I do however think some students are at university for the alcohol and the fun, this is true, I know it I live in Leeds I see it every day!

    I reckon they wouldn't need a loan if they redirected their booze and fancy dress budget into fees!
    I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.

    Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.
  • ampersandampersand Forumite
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    I applaud Martin for taking the lead in this and setting out the essential points in a cool, lucid and politically inert manner[leftie that I am].

    The aim of achieving a literate, articulate and numerate population[with innate courtesy as a given, a natural by-product]is the ultimate, but also the only route to a decent world.

    Thankyou Martin, in advance.
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  • pearl123pearl123 Forumite
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    ampersand wrote: »
    Thankyou Martin, in advance.
    Pleased that someone is going to take up the cause !
  • ampersand wrote: »
    I applaud Martin for taking the lead in this and setting out the essential points in a cool, lucid and politically inert manner[leftie that I am].

    The aim of achieving a literate, articulate and numerate population[with innate courtesy as a given, a natural by-product]is the ultimate, but also the only route to a decent world.

    Thankyou Martin, in advance.

    Would this not be better from someone who has actual financial qualifications (recognised) and someone who is truly un-bias (ref martins click and referral system?)
  • jamesdjamesd Forumite
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    Good luck with what's inevitably going to involve some unpleasant political strife along the way.
  • SobraonSobraon Forumite
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    Well I guess number one action for the taskforce is to ensure that high quality European universities who teach in English should be allowed to use the UCAS system. This will ensure that English students can move to Europe seamlessly and enjoy the low/zero cost of fees there.

    As Martin and the MSE site are both "dedicated to saving you money on anything & everything by finding the best deals and beating the system" then MSE's "ethical stance" legitimises study in Europe if the same quality of education can be purchased at a lower price.

    I look forward then, to a timely feature on the main site encouraging students to look overseas and exploring the costs and issues associated with such a choice. This needs the full weight of the MSE researchers now as students and their families will be making choices for 2012 very soon.
  • FATBALLZFATBALLZ Forumite
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    Deputy Head Wes Streeting? Isn't he the complete pillock who endorsed and welcomed the governments decision to break the link with inflation in student loans when we were experiencing deflation?
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