The new WAGs - Worried And Guilty

kidmugsy

Brynsam wrote: »

The facts (as opposed to the misunderstandings, panics and general mythology) are set out clearly and accurately on this site, so why not read the reality and then decide how much neurosis, if any, is necessary: https://www.moneysavingexpert.com/students/student-loans-tuition-fees-changes

Well quite!

On the other hand, those who enjoy getting their knickers in a twist have some justification if their issue is with the incompetence of the Student Loans Company. On the third hand, they are usually the same people who want government to control more and more of our lives, and yet don't understand that that would be like putting the SLC in charge of everything.

zolablue25

Brynsam wrote: »

The facts (as opposed to the misunderstandings, panics and general mythology) are set out clearly and accurately on this site, so why not read the reality and then decide how much neurosis, if any, is necessary: https://www.moneysavingexpert.com/students/student-loans-tuition-fees-changes

Of course, as we have seen, the Government is not averse to retrospectively changing the rules on student loans!

chiefie

OnTheLadder wrote: »

I have student debt of around 50K (started university in 2012 just as it went to 9K). I earn 30K a year on a Grad scheme and my student loan repayment has just dropped to £28 a month (previously £56 a month) due to now only having to pay 9% back on anything over 25K (i think). So £28 a month when you have 50K student loan is pretty good in my opinion. Also in comparison to what I earn, £28 really makes no difference to me. What I am trying to say is don't worry that they will be laden with loads of debt, student loan repayment is really quite manageable in my experience.

Thanks you seem to have it sorted. As others have said I need to let them become adults and deal with the choices you have. My wife and I have discussed this and we both agree it isn’t time to think about us. One of my two youngest has not been very appreciative and I guess that I should down to where they are in their head but perhaps they have had it too easy too - it’s a difficult balance as a parent.

My worry on the loans is that governments can do what they want at the time. Do you know they actually sell student debt to the private sector to get an immediate return - and at about 50% of book value. I was shocked at this but not surprised.

westv

chiefie wrote: »

Do you know they actually sell student debt to the private sector to get an immediate return - and at about 50% of book value. I was shocked at this but not surprised.

Is that not better than never getting the money back??

Pollycat

chiefie wrote: »

Thanks you seem to have it sorted. As others have said I need to let them become adults and deal with the choices you have. My wife and I have discussed this and we both agree it isn’t time to think about us. One of my two youngest has not been very appreciative and I guess that I should down to where they are in their head but perhaps they have had it too easy too - it’s a difficult balance as a parent.

Then I'd definitely stop worrying about how they're going to manage when they're all grown up. :cool:

chiefie wrote: »

My worry on the loans is that governments can do what they want at the time. Do you know they actually sell student debt to the private sector to get an immediate return - and at about 50% of book value. I was shocked at this but not surprised.

But you can wear yourself out worrying about what the Government is going to do about anything!

badmemory

chiefie wrote: »

and at about 50% of book value. I was shocked at this but not surprised.

And if only it was that much!

kidmugsy

Before you lend children any money you should ask them to explain how they intend to pay it back.

chiefie

https://www.telegraph.co.uk/news/2018/04/13/club-sandwich-generation-pensioners-bankrolling-family-4000/

Funny that this appeared today to