[py0alb]

(Original post by Arekkusu)
The new fee system is much, much, much better than the old one.

I said this at the time, and everyone I knew looked at me like I had advocated eating babies. One time, I even got accused of being a tory

Turns out everyone is slowly starting to realise I was right all along

[Maverick1984]

I honestly think if you're talking about a formal job, then yes paying off a loan will be long and strenuous.
However, if you build your own business and become profitable, you'll be able to pay off your loan in as little as a few years.

I quoted a book in a previous thread and i'll post it here as well seeing as it's relevant -

Read the book 'Rich Dad, poor Dad' by Robert Kiyosaki

It will give you all a completely different perspective on money and how to handle it.

[NGC773]

(Original post by Indian_Prince)
thats the dumbest advice anyone could ever give from you..... id rather pay it all off within 5 years, rather than through out my life, its common sense.....

You said you didnt want to spend 30 years working to pay off your degree. There is a simple solution to that, dont get a degree. If you can pay it off straight away then do it and stop moaning.

[stevop21]

(Original post by Alimbo95)
Originally, I wanted to become an airline pilot and as you may know, the fee for obtaining the airline pilot license is around £80,000. I can't afford to pay that, so I would have had to sort out a loan with the flight school and their partner bank, which would be secured over my parents' property. I also wanted to get a degree before embarking on my flying training purely due to the huge possibility of not getting an airline job after the first year of graduation from flight school. So, university fees were the least of my worry. With the fees rising, I would have found myself in a HUGE debt of approximately £100,000 at just 23 years old. I have established that, even though I have a strong passion for flying, it would not be ideal to go into all that financial mess just to fly, so I have decided that I will be going into law instead. Now, university fees just seem like a minor burden to me, even though I will need to get a loan for it. It's a sustainable repayment and, as you said, it won't have a heavy effect on your standard of living.

Exactly the same as you mate! OAA loans with BBVA, seem to be very unsustainable

[Alimbo95]

(Original post by stevop21)
Exactly the same as you mate! OAA loans with BBVA, seem to be very unsustainable

Hopefully, if I manage to enter the legal industry, I will be able to afford flying recreationally whenever I want. I just hate the fact they make passionate wannabe pilots like us make big investments

[GTi]

(Original post by Indian_Prince)
I dont want to pay weekly for 30 years of my life :/

Then pay your uni fees up front or don't go!! Seriously, its not a lot. It'll just come out like tax and NI, you won't even notice it!

[Indian_Prince]

(Original post by NGC773)
You said you didnt want to spend 30 years working to pay off your degree. There is a simple solution to that, dont get a degree. If you can pay it off straight away then do it and stop moaning.

you dont make sense.... And i aint the one thats moaning mr 'dont get a defree then'.....

[Arekkusu]

(Original post by py0alb)
I said this at the time, and everyone I knew looked at me like I had advocated eating babies. One time, I even got accused of being a tory

Turns out everyone is slowly starting to realise I was right all along

The fact that you can work it out for yourself using simple maths - which I did myself at the time, reaching the same conclusion - makes me wonder at how much time and money has been wasted on protesting it, all because people have such a mind-bendingly dumb herd mentality. Imagine how much more we could all achieve if we just calmed down and engaged our brains properly.

[NGC773]

(Original post by Indian_Prince)
you dont make sense.... And i aint the one thats moaning mr 'dont get a defree then'.....

I dont make sense? Maybe you should read the entire thread again. Your first post moans about you not wanting to pay off a degree with 30 years work.

[Rascacielos]

Yes, that's all well and good, but not everyone is going to be as lucky as you and get a highly paid job.

[Indian_Prince]

(Original post by NGC773)
I dont make sense? Maybe you should read the entire thread again. Your first post moans about you not wanting to pay off a degree with 30 years work.

I dont want to pay weekly for 30 years of my life :/

this is moaning? hahahahahahahahahahahahahahahaha hahaha roflmaaaaaaaaaaooooooooooooooooo ooooooooo, awww......

and no you are implying that i will purely be working 30 years just to pay off my loan, thats just plain stupid and doesnt make sense the way you are putting it..... id rather pay it off quick instead of having a constant weekly drain on my earnings when i can just pay it off and not have a un-needed drain on it..... i dont see how you can just go off and say "dont get a degree then" from that....

[alcazaba]

(Original post by folksie)
Hi all,

...

Probably one of the best posts I have ever read on TSR. Well done.

[Gap4]

(Original post by Indian_Prince)
this is moaning? hahahahahahahahahahahahahahahaha hahaha roflmaaaaaaaaaaooooooooooooooooo ooooooooo, awww......

and no you are implying that i will purely be working 30 years just to pay off my loan, thats just plain stupid and doesnt make sense the way you are putting it..... id rather pay it off quick instead of having a constant weekly drain on my earnings when i can just pay it off and not have a un-needed drain on it..... i dont see how you can just go off and say "dont get a degree then" from that....

You make no sense. You say you dont want to be working 30 years to pay it off then dont, you have two options 1) as NGC said dont get a degree or 2) find the funds to pay it all off.

[tsnake23]

(Original post by Indian_Prince)
id rather pay it off quick instead of having a constant weekly drain on my earnings when i can just pay it off and not have a un-needed drain on it.....

Two words: cash flow.

Why do you want to pay all your loan off very quickly and spend the first few years of graduate life with poor cash flow and even further away from saving for a deposit on a house? Why not just use the extremely generous repayment scheme and spread the low payments over the long run?

The fact that you said you don't want 'a constant weekly drain' on your earnings just shows you don't understand cash flow which is a vital concept you'll defenetly be introduced to later in life.

[tsnake23]

Also early repayment penalties are likely to be scrapped according to the a government white paper released yesterday:

http://www.dailymail.co.uk/news/arti...lass-hard.html

[LB3]

Great post mate, really reassuring.

Thanks.

[almalibre11111]

if u take a loan and then change country after your degree u ll still have to pay for it??

[kpwxx]

(Original post by Antimatter)
My problem is the market rate they're charging on interest. And that they're effectively saying it's fine to have debt that you will never be able to pay off - when it's not, it never has been, and that is the attitude that gets many people into lots of trouble.

I agree. While everything OP has said is correct and a really good point (thanks for a good post OP =]), the government is giving out a message which too many people already think these days. That and the interest are the two problems I have as well!

Also, as the OP said, a lot of people don't know the facts; this isn't going to change. It will put people off going to university due to money (even if it shouldn't) which I view as a bad thing.

[Indian_Prince]

(Original post by Gap4)
You make no sense. You say you dont want to be working 30 years to pay it off then dont, you have two options 1) as NGC said dont get a degree or 2) find the funds to pay it all off.

i said.... i dont want to pay it off over 30 years, working to pay it off over 30 years because you are not capable of paying it quickly is different to being able to pay it off but prolonging it even though you have the potential to pay it off sooner.........

i dont see where the dont get a degree thing comes from, its a completely idiotic thing to say.......

[SmartFool]

can someone please explain to me in simple terms how this system is better than the old one, I swear for the average person who gets an average job the old system is much better?! Has everyone took into account that most people will not get a high paying job?