Student Loan Mis-selling

owl_lover

Obviously if you drop out interest should start from then.
I completely understand that's it's a better interest rate than a commercial loan.
However, the earnings threshold combined with interest means that a large majority of loans are never paid off- this is funded by the tax payer anyway.
I guess the real problem for me is that I believe degrees should be more state funded. If you don't agree with me about this, you'll never agree about interest rates on student loans.

Pixie5740

I'd love tertiary education to be free or at least more state funded but there's too many people going to university now. It started when New Labour came into power in 1997. People who previously would have gone to polytechnics, colleges or apprenticeships were now suddenly at university. It used to be that you needed good A-levels or Highers to go off and become an electrician or some other tradesman. Now some of the people I see going to college look like total knuckle-draggers who previously would have worked in a factory screwing widgets on to things.

Herzlos

We have (mostly) free further education up in Scotland, I only had to pay back my student loan for living expenses and a graduate endowment (that got scrapped shortly afterwards), so I left uni with £2200 in loan + £2400 endowment. Still took me about 4 years to pay off though, so it really must suck for people being hammered for £7k/year.

I'm all for state funded further education; smarter people are better for society, though harder to manage by political overlords.
I do agree there should be more focus on vocational stuff (plumbing, joinery, etc) rather than theoritical.

Pixie5740 wrote: »

Sorry, I was replying to owl_lover's suggestion that interest only starts accruing after you graduate.

I was hoping I'd realised and edited it before anyone noticed :j

greensalad

Pixie5740 wrote: »

I'd love tertiary education to be free or at least more state funded but there's too many people going to university now. It started when New Labour came into power in 1997. People who previously would have gone to polytechnics, colleges or apprenticeships were now suddenly at university. It used to be that you needed good A-levels or Highers to go off and become an electrician or some other tradesman. Now some of the people I see going to college look like total knuckle-draggers who previously would have worked in a factory screwing widgets on to things.

Totally agree. I could probably have done my degree at a polytechnic, if such a place existed. But everyone is screaming "you must go to uni!" at you and you don't know what else to do... It's all so silly.

I consider my loan repayment more like a graduate tax.