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  • Gemmzie
    • #2
    • 14th May 09, 7:33 PM
    • #2
    • 14th May 09, 7:33 PM
    Thanks for the support for students Martin.

    If the tables were turned they'd be rubbing their hands together, I bet!
    No longer using this account for new posts from 2013
  • littlemissmoney
    • #3
    • 14th May 09, 8:22 PM
    • #3
    • 14th May 09, 8:22 PM
    This makes me so angry

    Is MSE going to start a campaign about this? I really think you should.
    Proud to be a MoneySaver!
    • nzseries1
    • By nzseries1 15th May 09, 11:25 AM
    • 2,144 Posts
    • 1,851 Thanks
    nzseries1
    • #4
    • 15th May 09, 11:25 AM
    • #4
    • 15th May 09, 11:25 AM
    Well done Martin, I'm very impressed and agree with you 100%.
    You're spelling is effecting me so much. Im trying not to be phased by it but your all making me loose my mind on mass!! My head is loosing it's hair. I'm going to take myself off the electoral role like I should of done ages ago and move to the Caribean. I already brought my plane ticket, all be it a refundable 1.
  • ZCC72
    • #5
    • 15th May 09, 5:05 PM
    • #5
    • 15th May 09, 5:05 PM
    As someone trying desperately to embark on full time studying, with incredibly limited finance due to redundancy as a result of the govt-driven recession, I agree with you whole-heartedly, and thank you for the support.
    FLY FIRST, KNIT LATER
  • Debtoxing
    • #6
    • 15th May 09, 7:02 PM
    • #6
    • 15th May 09, 7:02 PM
    You let them off too easily. Never mind 'doing it on the government's time' - it's taxpayers who are really paying for that studio, so it's their interests that should be represented - not the government's!
    Total debts at LBM (04/11/08): 39,000 approx.
    Total debts now: 17,377.76 all at 0% interest
    Debt-free date: June 2010
  • adambro
    • #7
    • 19th May 09, 10:30 PM
    • #7
    • 19th May 09, 10:30 PM
    I would note that pensioners on April 6 received a 5% increase in their state pension because it is based upon the value of the Retail Prices Index as of September 2008 which was 5% at that time. Since then of course it has fallen below zero percent but pensioners are guaranteed that regardless of the value of inflation as measured by RPI, they will get a 2.5% increase each year.

    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.
    • MSE Martin
    • By MSE Martin 20th May 09, 8:10 AM
    • 8,115 Posts
    • 42,285 Thanks
    MSE Martin
    • #8
    • 20th May 09, 8:10 AM
    • #8
    • 20th May 09, 8:10 AM
    I would encourage MSE to campaign to get this sorted.
    Originally posted by adambro
    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
    Martin Lewis, Money Saving Expert.
    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.

    Don't miss out on urgent MoneySaving, get my weekly e-mail at www.moneysavingexpert.com/tips.

    Debt-Free Wannabee Official Nerd Club: (Honorary) Members number 000
  • RabbitMad
    • #9
    • 20th May 09, 9:56 AM
    • #9
    • 20th May 09, 9:56 AM
    I could understand if new loans had a 0% interest rate, but ones that have already been taken out?

    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?
  • mykitten
    Sorry Martin I don't agree with you. The Govt dept know you are an impartial person, respected etc and you said you have an agreement to "speak your mind" on topics so you should have. Who pays the piper does not call the tune!

    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?
  • goodquestion
    Until it was explained I thought the 0% interest was a good deal - it definitely has a good spin to it, as many of my graduate friends think the same. Surprisingly it makes the government look good for a change because they are "doing graduates a favour."

    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!
  • littlemissmoney
    It's also worth noting the NUS has said its a pretty good deal
    Originally posted by MSE Martin
    I'm shocked that NUS aren't campaigning about this. They are meant to be on the side of us students!!
    Proud to be a MoneySaver!
  • littlemissmoney
    Martin, sign the petition!!
    Proud to be a MoneySaver!
    • MSE Martin
    • By MSE Martin 20th May 09, 12:02 PM
    • 8,115 Posts
    • 42,285 Thanks
    MSE Martin
    Sorry Martin I don't agree with you. The Govt dept know you are an impartial person, respected etc and you said you have an agreement to "speak your mind" on topics so you should have. Who pays the piper does not call the tune!

    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?
    Originally posted by mykitten

    From my perspective I had gone there agreeing to talk about encouraging students to not be scared of going to uni but effectively hijacked it to talk about outsltandng student loans for graduates that would've been inappropriate. Plus both our important issues and I don't want to hurt one to benefit the other.

    Do remember I have my own access to media I dont need the govt to do so - this was a local radio day - ulitmately I wrote about this in my news of the world column at the weekend, which has a far bigger audience, and here ont he site which has a huge one.

    Martin
    Martin Lewis, Money Saving Expert.
    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.

    Don't miss out on urgent MoneySaving, get my weekly e-mail at www.moneysavingexpert.com/tips.

    Debt-Free Wannabee Official Nerd Club: (Honorary) Members number 000
    • JimmyTheWig
    • By JimmyTheWig 20th May 09, 12:29 PM
    • 11,856 Posts
    • 11,396 Thanks
    JimmyTheWig
    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.
    Originally posted by MSE Martin
    If there anything like they were 10-14 years ago, I'm not surprised. The only thing worth noting about the NUS was that they didn't represent students.
  • adambro
    I think part of the problem, noting the apparent lack of concern from the NUS, is that students aren't really adequately represented. Pensioners as a group are very well represented, have sufficient time to get involved in campaigning on issues, have a better understanding of politics, and, perhaps most significantly, more older people vote than younger people. In 2005, turnout of under 25s was 44% whilst for over 64s was 86% (http://www.guardian.co.uk/politics/2005/dec/28/voterapathy.comment).

    The government listen to older people more than younger people because it has a greater impact on whether they get re-elected! I would strongly urge more younger people to develop at least a basic understanding of how our countries politics work and actually go out and vote in the forthcoming and subsequent elections.

    If you've followed Martin's advise on improving your credit rating then you'll already be on the electoral roll so all you need to do is make sure you are registered for a postal vote and then it is extremely straightforward to vote.

    If younger people want better treatment form government then they need to vote, simple as that. Politics isn't just something people take part in to keep their moat clean, it has a massive impact on all of us.
  • BruceyBonus
    The NUS doesn't seem to represent students anymore. What with giving up on tuition fees and now accepting this, why should I bother being a member of the NUS? I am strongly considering putting a proposal to my union next year that we should pull out of NUS.
    • MSE Martin
    • By MSE Martin 20th May 09, 3:55 PM
    • 8,115 Posts
    • 42,285 Thanks
    MSE Martin
    It is worth noting when discussing the NUS its job is to represent students. Those who are paying debts are primarily former not current students. THe argument re representation is a difficult one.
    Martin Lewis, Money Saving Expert.
    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.

    Don't miss out on urgent MoneySaving, get my weekly e-mail at www.moneysavingexpert.com/tips.

    Debt-Free Wannabee Official Nerd Club: (Honorary) Members number 000
  • littlemissmoney
    It is worth noting when discussing the NUS its job is to represent students. Those who are paying debts are primarily former not current students. THe argument re representation is a difficult one.
    Originally posted by MSE Martin
    Those repaying the debt might primarily not be current students, but interest is charged from the day the loan installment is paid so this affects the vast majority of current students. In fact, current/recent students tend to be the ones in the most debt so it would affect them the most! I'm a current member of NUS and I'm going to email them tonight to air my dissatifaction.
    Last edited by littlemissmoney; 20-05-2009 at 4:26 PM.
    Proud to be a MoneySaver!
    • Sillychuckie
    • By Sillychuckie 20th May 09, 5:54 PM
    • 1,135 Posts
    • 273 Thanks
    Sillychuckie
    Can someone explain to me why the Govt can do this?
    Is the loan between students and the SLC not a binding contract like any other? If the original terms of the loan say it will track inflation (and mentions no 0% minimum), then is this not a breach of the terms?

    I have a loan, but I'm not sure I have the small print surrounding the terms of it. Why is it the are able to do this?
    Thanks. SC
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