Should students HAVE to pay back university loans?
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Original post by Dalek1099
No I don't think students should have to pay back their loans if they don't earn well as a result because then their University Education hasn't helped them and they would become very poor trying to pay back loans on low wages.
However, it would make sense to have a system where a University receives money from the Government based on how much money students have paid back having undertaken these courses.This would make the best Universities/courses, those that have large numbers of students earning high wages get the most money from the Government and the opposite for the worst.
This would provide an incentive for Universities to actually provide good and useful courses that will help their students get employment.At the moment Universities get the money for each student so it really doesn't matter whether their courses are good or not with caps on numbers removed and so many students wanting to go to University even if they have a poor reputation they will still be able to get lots of money from naive students.
However, it would make sense to have a system where a University receives money from the Government based on how much money students have paid back having undertaken these courses.This would make the best Universities/courses, those that have large numbers of students earning high wages get the most money from the Government and the opposite for the worst.
This would provide an incentive for Universities to actually provide good and useful courses that will help their students get employment.At the moment Universities get the money for each student so it really doesn't matter whether their courses are good or not with caps on numbers removed and so many students wanting to go to University even if they have a poor reputation they will still be able to get lots of money from naive students.
That's like saying if I take out a loan to use for gambling and I lose it all I shouldn't have to pay it back.
Original post by Plagioclase
...Or just lower tuition fees so ordinary people will actually be capable of paying back their loans? It is incredibly sad that so many people think the only value of university is to earn more money.
Ordinary people are capable of paying the back. The idea is when you go to university you get a better paid job as a graduate so your economic background is completely irrelevant.
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Original post by Underscore__
Ordinary people are capable of paying the back. The idea is when you go to university you get a better paid job as a graduate so your economic background is completely irrelevant.
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Given that over 45% of people aren't going to be able to pay it back, that doesn't really support what you're saying.
Original post by jneill
You only pay on earnings above £21k. So if, for example, you are earning £31k it's £31k - £21k = 10k * 9% = £900pa = £2.46 per day. Price of a Starbucks. It really isn't much...
That is a hell of a lot of money to spunk away on coffee
only if they can. if they literally can't, then what would the government do...?
and even then, they would have to be monumentally poor for them to "not be able to pay it back"
like, homeless-grade poor. out on the streets on a piece of cardboard harassing passers-by for "change for a phone call" poor. dog **** on their trousers and piss on their jacket poor. you get it
basically, they're paying it back eventually
and even then, they would have to be monumentally poor for them to "not be able to pay it back"
like, homeless-grade poor. out on the streets on a piece of cardboard harassing passers-by for "change for a phone call" poor. dog **** on their trousers and piss on their jacket poor. you get it
basically, they're paying it back eventually
(edited 8 years ago)
Original post by scrotgrot
That is a hell of a lot of money to spunk away on coffee
Yes, but not a lot of money for a degree.
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Original post by sleepysnooze
only if they can. if they literally can't, then what would the government do...?
and even then, they would have to be monumentally poor for them to "not be able to pay it back"
like, homeless-grade poor. out on the streets on a piece of cardboard harassing passers-by for "change for a phone call" poor. dog **** on their trousers and piss on their jacket poor. you get it
basically, they're paying it back eventually
and even then, they would have to be monumentally poor for them to "not be able to pay it back"
like, homeless-grade poor. out on the streets on a piece of cardboard harassing passers-by for "change for a phone call" poor. dog **** on their trousers and piss on their jacket poor. you get it
basically, they're paying it back eventually
No
They just have to be <£21k a year, poor. And even above that it's only those earning (iirc) more than about £40k who will earn enough to pay it all off. The rest gets written off.
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Original post by jneill
No
They just have to be <£21k a year, poor. And even above that it's only those earning (iirc) more than about £40k who will earn enough to pay it all off. The rest gets written off.
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They just have to be <£21k a year, poor. And even above that it's only those earning (iirc) more than about £40k who will earn enough to pay it all off. The rest gets written off.
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well the government is such a donkey then because that seems way too allowing...this is why our deficit is going sky high. there are better ways of letting people go to university without either party losing their money.
Original post by BlackSweetness
Here we go again, why else would you go to university fgs! You sound like an arts or humanities student! Your at university to invest in yourself and get a good job, not to play about!
Not everyone seeks meaning and plans their life around aspiring to be a worker drone. It certainly wasn't the sole reason why I did physics.
Original post by sleepysnooze
well the government is such a donkey then because that seems way too allowing...this is why our deficit is going sky high. there are better ways of letting people go to university without either party losing their money.
Such as...
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Original post by jneill
only giving priority to students who're studying things which are usually guaranteed a job at the end, as opposed to a degree like mine (politics) - even though I'm probably going to come out with a 2:1 I literally find it a possibility that I'll be working at burger king again afterwards.
(edited 8 years ago)
Original post by scrotgrot
That is a hell of a lot of money to spunk away on coffee
Really? £2.46 is actually a very cheap cup of coffee.
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Original post by Dalek1099
No I don't think students should have to pay back their loans if they don't earn well as a result because then their University Education hasn't helped them and they would become very poor trying to pay back loans on low wages.
However, it would make sense to have a system where a University receives money from the Government based on how much money students have paid back having undertaken these courses.This would make the best Universities/courses, those that have large numbers of students earning high wages get the most money from the Government and the opposite for the worst.
This would provide an incentive for Universities to actually provide good and useful courses that will help their students get employment.At the moment Universities get the money for each student so it really doesn't matter whether their courses are good or not with caps on numbers removed and so many students wanting to go to University even if they have a poor reputation they will still be able to get lots of money from naive students.
However, it would make sense to have a system where a University receives money from the Government based on how much money students have paid back having undertaken these courses.This would make the best Universities/courses, those that have large numbers of students earning high wages get the most money from the Government and the opposite for the worst.
This would provide an incentive for Universities to actually provide good and useful courses that will help their students get employment.At the moment Universities get the money for each student so it really doesn't matter whether their courses are good or not with caps on numbers removed and so many students wanting to go to University even if they have a poor reputation they will still be able to get lots of money from naive students.
how come you have red bars?
Original post by sleepysnooze
only giving priority to students who're studying things which are usually guaranteed a job at the end, as opposed to a degree like mine (politics) - even though I'm probably going to come out with a 2:1 I literally find it a possibility that I'll be working at burger king again afterwards.
1) The government is extremely generous in their conditions on graduate loans so much so I could have paid mine back ten times earlier than I did, people should be paying back a lot more and the thresholds should be lower. Even someone on 16k a year could pay back a large amount assuming they aren't living in London. Then you have to take into account lots of graduates still live with their parents... that amount of saving alone is immense. If a large amount of loans aren't being paid back something has to be done because it isn't maintainable.
2) You're going to get a lot of flak but that's pretty much the way it should be or at least partially fund other degrees up until a particular cutoff but then there would be a lot of expensive bureaucracy around it.
(edited 8 years ago)
Original post by Sephiroth
Students don't pay back university loans. Employed graduates with a decent salary pay back loans.
Don't expect your loan to be written off if you never earn more than £21k because you will earn more than that. £21k will be minimum wage in 20 years time.
Don't expect your loan to be written off if you never earn more than £21k because you will earn more than that. £21k will be minimum wage in 20 years time.
Not even that long, if we suppose minimum wage grows at an average 4% PA as it used to after the £9 'living wage' is brought in, it will be minimum wage for 7.5 paid hours a day 5 days a week in a decade.
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Original post by ChaoticButterfly
Not everyone seeks meaning and plans their life around aspiring to be a worker drone. It certainly wasn't the sole reason why I did physics.
It may have not been, but its pretty naïve to say it wasnt a contributing factor
It should be like America where it is treated like any other debt and you can have the bailiffs enforce repayment of it.
Original post by caravaggio2
Should students have to pay back the loans?
Of course not. The mugs earning 22k that never went to uni should pay it for them.
Of course not. The mugs earning 22k that never went to uni should pay it for them.
This is the problem, it's easy to be the good guy and say, 'repayment of loans would be less of an issue if we slashed the fees', but that's like saying, poverty wouldn't be an issue if everyone had more money, I mean no **** kid.
If we did slash the fees, other people, potentially people who did not have the same privileges the younger generation had would be forced to suffer.
Original post by Amonute
I come from a country where the most expensive private university costs you around £7,000 a year, and the most expensive public university costs around £1,200 a year. The solely fact that students in the UK have to pay £9,000 a year is ridiculous...
It's like that in France I believe, but this is even worse for poor people because the poor are shoehorned into awful cheap universities which are absolutely awful and don't give qualifications respected enough for them to actually improve their social standing when they leave.
Original post by Plagioclase
Given that over 45% of people aren't going to be able to pay it back, that doesn't really support what you're saying.
A distinction needs to be made between paying off the loan in its entirety and paying back at least what you borrowed, arguably the latter is more important when looking at the cohort because it isn't designed to be paid off; the system is designed to try to farm as much as possible whilst still appearing reasonable.
Original post by Amonute
I come from a country where the most expensive private university costs you around £7,000 a year, and the most expensive public university costs around £1,200 a year. The solely fact that students in the UK have to pay £9,000 a year is ridiculous...
What is it in real terms though and what is the international reputation like? It's all well and good saying the most expensive is only £7k but if throwing in a fraction of the cost of living, poor international reputation and low employment prospects without going abroad, for instance, it's a kinda crumby deal.
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Original post by Underscore__
That's like saying if I take out a loan to use for gambling and I lose it all I shouldn't have to pay it back.
Ordinary people are capable of paying the back. The idea is when you go to university you get a better paid job as a graduate so your economic background is completely irrelevant.
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Ordinary people are capable of paying the back. The idea is when you go to university you get a better paid job as a graduate so your economic background is completely irrelevant.
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If you haven't got what you wanted from a business service you can sue or request to get all your money back the same idea applies to University loans if you don't at least get a decent job then you shouldn't have to pay anything the University hasn't offered the service they should have done to educate you enough to get a good job, whats the point in getting a degree if you won't even get an AVERAGE job.
You don't just get a better job as a graduate it doesn't work like that always a lot of graduates are unemployed.
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