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

shortchanged_2

moneyinmypocket wrote: »

Load the yoof up with debt I say.

Not very advantageous to your house prices only go up philosophy.

moneyinmypocket

You don't think? Saddle them with as much debt and then make them sell a kidney - better?

IveSeenTheLight

chucknorris wrote: »

I'm not sure where I stand on this issue. On one hand I tend to agree that those who read for a degree should pay (more) for it (rather than every tax payer). On the other hand I also think it is a high price to pay. (I don't necessarily agree that the cost is £100k but it is high).

Maybe they should have found a compromise by maintaining a subsidy but increasing the percentage that the student pays.

It is my intention that should my children aspire to go to university, I will fund them through their education.

I do not intend that they will have the burden of student debt.

I understand there will be some who think, "that's alright for you, but what about those who can't support their children".

To that I respond "I believe it's a parents responsibility to provide the best education and support through their childhood and into young adult life. To that end, I would do whatever is required to help fund their education."

IveSeenTheLight

PaulF81 wrote: »

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.

If you work abroad, you are still liable to pay tax, whether if it is in the domicile country or not.

The perception of tax free is because the company is paying the tax in the host country for you (some benefits for them).

There are opportunities for this, but usually after you have gained experience working in that industry / for that company.

ruggedtoast

IveSeenTheLight wrote: »

If you work abroad, you are still liable to pay tax, whether if it is in the domicile country or not.

The perception of tax free is because the company is paying the tax in the host country for you (some benefits for them).

There are opportunities for this, but usually after you have gained experience working in that industry / for that company.

Exactly. You'll be paying tax to fund the boomers wherever you are.

Americans have to pay income tax back to the US while they are overseas, on top of the tax they pay to the country they are living in.

grizzly1911

IveSeenTheLight wrote: »

It is my intention that should my children aspire to go to university, I will fund them through their education.

I do not intend that they will have the burden of student debt.

I understand there will be some who think, "that's alright for you, but what about those who can't support their children".

To that I respond "I believe it's a parents responsibility to provide the best education and support through their childhood and into young adult life. To that end, I would do whatever is required to help fund their education."

Good luck just hope the government, whichever one, don't move the goal posts several times before you get to that decision. I know funding is different north of the wall.

We planned like that but have now decided to use the money to help them with property when they need it. Just making sure they come out of it free of any personal debt.

ILW

moneyinmypocket wrote: »

You don't think? Saddle them with as much debt and then make them sell a kidney - better?

Sainsburys sell kidneys.

IveSeenTheLight

grizzly1911 wrote: »

Good luck just hope the government, whichever one, don't move the goal posts several times before you get to that decision. I know funding is different north of the wall.

We planned like that but have now decided to use the money to help them with property when they need it. Just making sure they come out of it free of any personal debt.

You can never pre-empt what the requirements will be in 15 - 20 years time, however you can make preperations now in an effort to be in a good position once the time comes, which is what we are doing.

I wonder if we are slowly moving towards an Americanised system, where parents put away money into a "college fund" for the further education system.

Out,_Vile_Jelly

ruggedtoast wrote: »

With a bachelors degree now the pre-requisite for a job filing in an office,

Can you link to some job ads for filing assistants that require a degree?

grizzly1911

IveSeenTheLight wrote: »

I wonder if we are slowly moving towards an Americanised system, where parents put away money into a "college fund" for the further education system.

Quite possibly, simply transferring the nominal debt, for x years, will Iam sure become a problem down the line for governments.

Knowing in advance what the magnitude of the objective is helps planning.