Student Loans

BK524

o anyone who supports a graduate tax or the current system, would you mind explaining to me why? I strongly disagree, I find the current system ludicrous. Everyone who goes to university receives the same "service", why should middle earning graduates be punished by paying back 3-4x as much as they would on the Plan 1 (pre-2012) system? It's just a redistribution mechanism, which means people who go and do mickey mouse degrees never pay back a penny. No other country in the world charges students this much for an education!

The Plan 1 system should be restored, fees should be cut to 3k a year, and maintenance grants (up to 3k) restored. The interest should be slashed to around 1%, and the repayment period should be until 60. There will also need to be a partial debt forgiveness, for those of us who started during the last 8 years, to bring our debt in line with those Plan 1 students. I don't see why the system should be progressive at all.

notveryeducated

Everything's easy and free with a magic money tree.

BK524

Every other country seems to be able to afford it? We do need to reduce the number of people going to university. 
Why don't we put a minimum grade as requirement for funding? I.e. you need XXX at a level to be eligible. That should do it.

notveryeducated

BK524 said:

Every other country seems to be able to afford it? We do need to reduce the number of people going to university. 
Why don't we put a minimum grade as requirement for funding? I.e. you need XXX at a level to be eligible. That should do it.

Take a look at USA's student loan system, a lot of people have to borrow from banks and have to make repayments even if they are unemployed.

BK524

People in the USA can apply for income contingent repayment, just like us. 

BK524

And their total student debt is much lower than ours due to generous financial aid and scholarships. We only have loans!

[Deleted User]

This belongs on the Debate House Prices and the Economy board.

BK524

Sorry, I'm new to the forum. Are you able to transfer it?