Student loan is trechearous

Devon_Sailor

In fact, here you go - Martin's SL 2012 Fact Sheet.

You would potentially even be £540 per year BETTER OFF under the new scheme.....

http://www.moneysavingexpert.com/students/student-loans-tuition-fees-changes

Have a read and a think, and then go off to university and enjoy yourself!

But definitely try and bin the "cant do/will never happen" attitude. The high paying jobs are still there but you 1) have to look harder for them and 2) scrap like heck to get them. Giving up before you have even started is ridiculous!

D_S

tyllwyd

Valentas wrote: »

... One-time rise in inflation will cause student debt to be unpaid by any means. ...

I think you are getting too stressed about repaying the loan completely. If you take out a student loan, you have to be resigned to being in the system making repayments for 30 years, at the end of which the debt will be wiped. As you have said, the repayments are set so low, that for many people they won't be able to pay the entire debt including interest before the 30 years are up.

Valentas

Thank you for constructive answers, people. I do not say I am scared off of this loan but i just could not believe that I would not pay back my loan while working because it will grow even more. That just made me feel angry because it sounds: "Government: You will start to RE-PAY" but in reality repayments are lower than interest lol. Well, I am biochemistry student and there are very few jobs that offer even 30k/year thus I am a bit nervous that I will grow that loan even after graduating because I will pursue PhD which is a necessity for better positions. I hope that this "30-year law" will still be genuine after say 20 years...I am strategic thinker thus I may sometimes over-think everything.

CLAPTON

Valentas wrote: »

Thank you for constructive answers, people. I do not say I am scared off of this loan but i just could not believe that I would not pay back my loan while working because it will grow even more. That just made me feel angry because it sounds: "Government: You will start to RE-PAY" but in reality repayments are lower than interest lol. Well, I am biochemistry student and there are very few jobs that offer even 30k/year thus I am a bit nervous that I will grow that loan even after graduating because I will pursue PhD which is a necessity for better positions. I hope that this "30-year law" will still be genuine after say 20 years...I am strategic thinker thus I may sometimes over-think everything.

Once you start work there is of course, nothing to stop you paying sufficient to ensure the debt decreases year on year.

mynameistallulah

Valentas wrote: »

Thank you for constructive answers, people. I do not say I am scared off of this loan but i just could not believe that I would not pay back my loan while working because it will grow even more. That just made me feel angry because it sounds: "Government: You will start to RE-PAY" but in reality repayments are lower than interest lol. Well, I am biochemistry student and there are very few jobs that offer even 30k/year thus I am a bit nervous that I will grow that loan even after graduating because I will pursue PhD which is a necessity for better positions. I hope that this "30-year law" will still be genuine after say 20 years...I am strategic thinker thus I may sometimes over-think everything.

Before you even think of postgraduate education, or even undergrad for that matter, please work on your English!

Do people like this actually get accepted for degrees?