Student Loan Interest Rate and Course Costs 20 May 2020 at 11:27AM in Student MoneySaving 4 replies 41 views

m00036

Obviously there's not much we can do about it as it stands, but

• Given the current BoE base rate, charging 3% interest (+ RPI which was unhelpfully set in March for this year, just before prices plummeted) doesn't seem right. The income thresholds are still appropriate since anyone with a drop in income will see a fall in repayments, and admittedly the interest is irrelevant for many as the debt is wiped off after 30 years, but it will still affect a reasonable proportion.
• Charging the full course cost for an online "equivalent" cannot be right. As you will have seen in the news yesterday, my university has confirmed online lectures for a full year from this coming October, and while we don't have the same problems with rent (which I wholeheartedly sympathise with) as they are paid termly, some sort of reduction would seem fair (perhaps something equal to the increase in intake that the government is allowing in light of the coronavirus situation, at the very least!).

The government (and the university sector) is already facing a substantial deficit and clearly decisions to reduce fees and interest for university students is not in its interests (one could argue the student loan system is sufficiently generous that many people will see no difference whether or not fees change or not), but from a principle perspective at least, no normal firm has any right to charge the same amount for a different product, so to allow universities to do so would set a dangerous precedent for the "new normal". Just because not everyone will lose out doesn't mean it should be ignored as a problem.

dimbo61

And your question is ?
Very first post and you seem to be angry with Universities charging full fees for what maybe a part/full online course.
You could always save money by doing the whole Uni degree from your bedroom./ Under the stairs.
Aldi are doing Harry Potter bedding cheap at the moment because Hogwarts is shut due to Covid19

dimbo61

And your question is ?
Very first post and you seem to be angry with Universities charging full fees for what maybe a part/full online course.
You could always save money by doing the whole Uni degree from your bedroom./ Under the stairs.
Aldi are doing Harry Potter bedding cheap at the moment because Hogwarts is shut due to Covid19

dimbo61

And your question is ?
Very first post and you seem to be angry with Universities charging full fees for what maybe a part/full online course.
You could always save money by doing the whole Uni degree from your bedroom./ Under the stairs.
Aldi are doing Harry Potter bedding cheap at the moment because Hogwarts is shut due to Covid19

m00036

I suppose my question relates to the second bullet point - to what are students actually entitled to for the course fee beyond the opportunity to pass exams and get a degree certificate at the end? In normal times, students are unlikely to pay full fees for an online course, and you are generally allowed to apply for a refund for all other "events" if they are not "as advertised".

The first bullet point was more to see if anyone had raised this concern.