'Don't pay your kids tuition fees upfront' Discussion Area

Lokolo

setmefree2 wrote: »

Ummmm.....well it would appear the student loan system is becoming all about the "redistribution of wealth"...which is an extremely worrying turn of events for most people/students I would think.....

But isn't that all the UK is? The rich pay more, the poor pay less?

TBH I would worry about Labour's policys all the time, spend more and more money to get into power It even says in the quote that their option would be partly funded by higher rates for those over £65k, wheres the other part going to come from?

setmefree2

Lokolo wrote: »

But isn't that all the UK is? The rich pay more, the poor pay less?

TBH I would worry about Labour's policys all the time, spend more and more money to get into power It even says in the quote that their option would be partly funded by higher rates for those over £65k, wheres the other part going to come from?

Taxing the banks :cool: And guess who owns them? Oh yeah that'll be us (the tax payer)

setmefree2

But shadow business secretary John Denham told BBC News that a graduate tax still remains the party's long-term aspiration.

He also said that Labour's long-term aspiration was to introduce a graduate tax. "That is the direction we've said we always wanted to move in. A fairer system of payment for the degrees, for the contribution we ask graduates to make. This is something that can be done today."

http://www.bbc.co.uk/news/uk-15050334

Oldernotwiser

setmefree2 wrote: »

Ummmm.....well it would appear the student loan system is becoming all about the "redistribution of wealth"...which is an extremely worrying turn of events for most people/students I would think.....

The student loan system is designed so that those who get the most financial benefits from their degrees pay the most; not at all the same thing.

As David Cameron said at last year's Tory conference " it is right for the broadest shoulders to bear the heaviest load." As Conservative policy, it's hardly going to be about distribution of wealth, is it?

http://www.telegraph.co.uk/education/educationnews/8049300/Lord-Browne-review-student-debt-could-soar-to-80000.html

setmefree2

I like this response in the above BBC article

416.

jrperry 3 Hours ago

I have just gone through the calculation based on the current proposed loan repayment formula for FY12/13 and onwards. Whether a student's course fees are £6k p.a. or £9k p.a actually makes NO DIFFERENCE AT ALL to the loan repayments the student would have to make, until their salary is somewhat over £60,000!

It's difficult for people / voters to get their heads around this.... maybe ML made this post

tyllwyd

Oldernotwiser wrote: »

The student loan system is designed so that those who get the most financial benefits from their degrees pay the most; not at all the same thing.

But since students from poorer homes are charged reduced fees, the amount you pay back will also depend on how much your parents earned at the time when you went to university.

Oldernotwiser

tyllwyd wrote: »

But since students from poorer homes are charged reduced fees, the amount you pay back will also depend on how much your parents earned at the time when you went to university.

That is a factor, but a lesser one than what you yourself earn.

setmefree2

Oldernotwiser wrote: »

The student loan system is designed so that those who get the most financial benefits from their degrees pay the most; not at all the same thing.

or those who work the hardest get to pay for everybody else who can't be bothered to put in some effort.....:eek:

(That's me with my toungue in cheek - sort off)

setmefree2

Does anyone know what the Labour Party Graduate Tax policy means? Would it be retrospective? Would they just do away with all the student loans outstanding and tax all ex graduates or would the loan schemes run their course?

Taiko

I doubt even the Labour party know what it means.