'Pulling out of Govt’s Student finance day...' blog discussion
edited 14 May 2009 at 6:01PM
in Martin's Blogs & Appearances & MoneySavingExpert in the News
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Former_MSE_Lawrence
Former MSE 975 Posts
This is the discussion to link on the back of Martin's blog. Please read the blog first, as this discussion follows it.
Read Martin's 'Pulling out of Govt’s Student finance day because of student loan fiasco' Blog.
Click reply to discuss below.
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If the tables were turned they'd be rubbing their hands together, I bet!
Is MSE going to start a campaign about this? I really think you should. :T
Total debts now: £17,377.76 all at 0% interest
Debt-free date: June 2010
For those with student loans though, things work very differently. When it benefits the government, our loans will rise in-line with inflation but as we are now, with deflation, the government is allowing the value of our loans to rise in real terms.
So, in our current recession, whilst pensioners are guaranteed a rise regardless, graduates are guaranteed a debt that is increasing in real terms despite the general understanding that this wouldn't be the case.
It isn't my intention to be attacking pensioners, many of whom might well have an actual personal inflation rate much higher than RPI due to not benefiting from the decreased mortgage costs, but to highlight an apparent lack of fairness here. I can accept that many pensioners will be struggling but the government should treat graduates better. Many of whom will be desperately trying to buy their first home and finding their finances stretched to the limit. It is important to recognise that first time buyers are essential to the housing market which needs to start working again.
The government should keep its side of the bargain on student loans and maintain the link with RPI in these times of recession and I would encourage MSE to campaign to get this sorted.
I have to say I was rather surprised by the lack of pick up of this by the papers/TV. We press released it - spoke to many, but with the expenses scandal it just didnt have the legs.
It's also worth noting the NUS has said its a pretty good deal, which certainly makes campaigning on an issue like this much more difficult.
Our own peittion to number 10 was rejected as it was said to be duplicating one already there which ive linked to in my email. So the campaiinign button is quite difficult ot push here.
Martin
Please note, answers don't constitute financial advice, it is based on generalised journalistic research. Always ensure any decision is made with regards to your own individual circumstance.
I had the old style loan paid off a while ago but could somebody with a new style one challange this in court? I'm thinking if somebosy owed £10,000 they could bring a small claims case for £40?
Who would know the reasons why you pulled out (except on here?) Do you tailor all of your money advice to whoever is paying you for the day?
I wonder if NUS feel the same? Or that they are a bunch of Labour suck up wannabes and will follow them regardless?
I also wonder if students have given up fighting the inevitible and accept that uncapped fees are just a matter of time and we should be thankful we havent had it that bad. The apathy is horrendous, you can rest assured that if inflation was super high the government wouldn't think twice about following the rules then!