£100,000 of student loan debt. Young crippled by debt burden

Wookster

Anyone suggesting that bankers be taxed more just doesn't understand the true quantum of the deficit.

Assuming a deficit of £120 billion, if that was filled from tax rises only it would mean an increase of VAT to 35%, or an increase of ~16% to NI.

These are truly vast sums.

Onto students, perhaps if university wasn't intended to appeal to 50% of the population (as Labour intended) then it would consist of genuinely valuable courses that led to an increase in skills that were valuable in the real economy rather than all the BS media studies courses that seem to be on offer now.

Of course Labour simply increased the targeted appeal of university to try and mask the problem of youth unemployment.

What needs to be done is reducing the university intake to approx 25% and really improving apprenticeship training. This is not happening either.

Wookster

Thrugelmir wrote: »

In engineering perhaps?

Engineering

Accounting

Law

IT & Programming

Sales

The list is endless.

sheffield_lad

Earn £22k per year repayment per month? £7.50 per month

No cash up front. Its not the repayments putting students off its nonsense spouted for political means which often means the message of how good the deal actually is does not get through.

chucknorris

ruggedtoast wrote: »

An apprenticeship or vocational course to do what?

We don't have children but if we did and we thought that they would do well on a degree course we would encourage them to do so. However if they didn't want to we would probably encourage them to do something like an electrical or gas fitting apprenticeship with a view to eventually starting off their own business, but of course at the end of the day it would be their choice.

When I was 28 (as an electrician) I decided to go and do a degree, which proved to be very lucrative but I think I might have done equally good starting up my own electrical contracting business too.

A._Badger

Wookster wrote: »

courses that seem to be on offer now.

Of course Labour simply increased the targeted appeal of university to try and mask the problem of youth unemployment.
.

Not to mention that oh, so important three years of further political indoctrination from humanities departments.

grizzly1911

Yes it is burden on the young to repay (extra tax) student loans.

I have one on the old scheme and one just about to start the new one. They are/will be doing "real" degrees not golf management or such like.

I think they will be able to manage the "debt" but it will take consumption out of the future economy. If the best part of 350 000 of them are doing this year on year it will mean a the economy suffering progressively.

Additionally I predict that a good proportion of these loans will simply not get repaid over the 30 years (in the case of the new ones) and the Goveernment is just building a problem down the down the road.

Too many people are doing degrees, where alternative educational and training course would be more appropriate. It bis time the length of course are revised - especially in this technological age with the media links that are available. On my sons course many of the lectures are available to down load and utilise /consume in other ways. Why do they need to be 3 years with thin contact ours , why not 18 months /2years?

grizzly1911

Thrugelmir wrote: »

I'm sure many graduates became bankers as that's where the money was to be made. Rather than lower paid professions.

I doubt they will be recruiting in droves for the foreseeable future.

grizzly1911

Thrugelmir wrote: »

In engineering perhaps?

There are too few real engineering companies out there to be able to offer them. Few prospects even if they can find one.

Many end up being glorified technicians, trained to do a basic subset of tasks Real apprenticeships used to be 6 years for a meaningful qualification and level of experience. Now the term is used to cover anything from grease monkey, to retail shelf stacking to filing/answering the phone over 12 months.Experience that use to be known as YTS.

PaulF81

study here and emigrate. laugh from abroad whilst the boomers get their pensions cut as no tax is coming in, whilst writing off your student debt whilst recieving a tax free salary.

moneyinmypocket

Load the yoof up with debt I say.