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Something the coalition hasn't told uni student... Watch

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    (Original post by Blondshavemorefun)
    It's not 9% under the new proposed scheme it's maximum of 3% + inflation, oops sorry not quite awake yet I see you mean % of income over 21K, my bad.
    So repayments will vary year by year?

    What will the interest rate be set at?
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    (Original post by stefk93)
    Ermm that page says its $53,615 per year, american undergrad is 4 years, thats over $200k, about £150,000, dont know what your smoking mate!
    Anyway im not talking about america, yes they have higher wages and whatnot but im just trying to say students around the world can face much bigger debts than British students, im just trying to put it into perspective
    $200,000 = £128,000 ...... Don't know what you're smoking either.

    Most people who go to univeristy in america don't leave america...
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    (Original post by Blondshavemorefun)
    Repayments are only made from the 9% of income over £21k at a maximum rate of 3% + inflation.

    I know I'm pretty knackered at the moment, but even so guys, they are not charging a 9% interest rate.
    Repayment and interest are not the same thing you know...

    I hope we will get an apology for being called empties...
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    (Original post by Quady)
    So repayments will vary year by year?

    What will the interest rate be set at?
    No, she's just getting confused. Repayments will always be 9% of your earnings over £21k. Obviously if you earn more one year, you'll pay more, but the actual percentage won't change.

    Interest is 3% above inflation (I think) but that's irrelevant if you don't even manage to pay back your loan amount in the 30 years before it's written off. Eg in an earlier post I worked out you'd have to earn an average of £37.7k for 30 years immediately after leaving uni to even pay back a £45k loan, so you'd have to earn even more to be able to pay back any interest.
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    The amount of ignorance in this thread about american fees and schools is staggering...
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    (Original post by yawn)
    It doesn't at the moment because the fees don't amount to more than £10,000 over a three year course.

    It will impact on obtaining loans if you are encumbered with a debt of £30,000. To deny this is feckless.
    Er, no, they don't do it now because it is student debt and repaid in a completely different fashion. Either way, to shunt the burden for university fees to taxation would, of course, reduce a former student's net income - so in fact it is you suggesting a system that prevents people getting mortgages and loans, not the coalition.

    No-one is suggesting that anyone could get into £30,000 worth of debt for tuition fees over three years. Indeed, only in extraordinary cases could a student even approach that figure.

    (Original post by yawn)
    Another u-turn then! The coalition said from the outset that those students from wealthy families who could afford to pay the fees upfront would not be allowed to do so because the government would be legislating for such prohibition.
    Why the devil would they say something like that? Do you think the government wants to lend large sums of money to people who don't need it, on favourable conditions?
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    (Original post by PoliceStory)
    If we're looking for a reason why people from poor backgrounds are put off University because of fees then look to stupid ****s like yawn who feed them lies.
    Hear-bloody-hear. The Socialist scaremongers, NUS hacks and other assorted scumbags have done far more to reduce social mobility in relation to higher education than anyone else in this country.
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    (Original post by Quady)
    Repayment and interest are not the same thing you know...

    I hope we will get an apology for being called empties...
    Sorry for that. I have just re read the Browne report to see what the repayments will be: Gross annual salaries

    £21k no repayment

    £25K - £30 per month

    £30k -£68 per month

    £40k -£143 per month

    £50k -£218 per month

    £60k - £293 per month

    Hope this clarifies the situation.
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    Nevermind how this is the only country other than Romania in Europe cutting the Education budget. The future is very dark for those in struggling circumstances and the Government wants to just hinder the most vunerable: public sector workers and the poor.
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    (Original post by Low Profile)
    Nevermind how this is the only country other than Romania in Europe cutting the Education budget. The future is very dark for those in struggling circumstances and the Government wants to just hinder the most vunerable: public sector workers and the poor.
    Rubbish. European countries cutting university education budgets are, in no particular order:- Ireland, Greece, Italy, Portugal, Latvia, Lithuania, Poland, Croatia, Czech Republic, Estonia, Serbia, Hungary, and not increasing budget in many others.

    We are actually increasing our education funding.
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    (Original post by Blondshavemorefun)
    Rubbish.
    I don't know how you can say that. They have already scheduled a cut of £11bn in welfare.
    Something which can simply not be defended by saying "that's due to the mess left by the previous govt". Stable and progressive cuts are not evident with the cuts made so far.
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    (Original post by Low Profile)
    I don't know how you can say that. They have already scheduled a cut of £11bn in welfare.
    How are public sector workers the most vunerable in society. These welfare reforms are long overdue. Genuine claimants have nothing to worry about, people who can work should work, end of.
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    (Original post by Blondshavemorefun)
    We are actually increasing our education funding.
    Carry on feeding your self lies, you might believe them.
    You can't support that claim so don't bother.
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    (Original post by Low Profile)
    Carry on feeding your self lies, you might believe them.
    You can't support that claim so don't bother.
    ?His recommendations present a radical plan to shake up higher education in England and a charter for choice for students, who will be entrusted with far more power to shape their own future. Under a new system, to be called the Student Finance Plan, no student will pay anything until they graduate and are in work.
    ?After leaving university, graduates will only begin repaying when they reach annual earnings of over £21,000 a year, up from £15,000 under the current system. Even then, the payments will be small, for example at an income level of £25,000 a year the repayments will be £7 a week.
    ?The current cap on fees of £3,290 per year will be removed, allowing universities to put quality first and charge accordingly. A tapered levy on institutions charging more than £6,000 per year will ensure that those which charge the most contribute more to supporting the poorest students. In addition, universities that wish to charge more will be required to demonstrate to the regulator and to their students both improved standards of teaching and fair admission.
    ?Demand for higher education will continue to increase and we will fund more places so that everyone who has the potential to benefit from HE gets the opportunity to do so. A 10% increase in student places will be factored into the system over the next four years.
    ?Careers advice is in need of a radical overhaul. Part of empowering our young people is ensuring they have the right information, advice and guidance to make the correct choice. This means careers advice in all schools of the kind currently being given in the private sector.
    ?Those who wish to pursue part-time study should have equal entitlement to tuition support under the Student Finance Plan. Part-time study provides a second chance for people who missed out earlier in their lives and it is important to level the playing field between part-time and full-time study.

    Ref: The Browne Report published Oct 2010 commissioned by the Labour Government (Red Ed was in that very same Labour Government, he even wrote their manifesto for the last election, and Labour were looking at massive cuts to education)
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    (Original post by Blondshavemorefun)
    Sorry for that. I have just re read the Browne report to see what the repayments will be: Gross annual salaries

    £21k no repayment

    £25K - £30 per month

    £30k -£68 per month

    £40k -£143 per month

    £50k -£218 per month

    £60k - £293 per month

    Hope this clarifies the situation.
    Of course it doesn't 'clarify the situation' you have just told me a bunch of stuff I already knew and was pointing out you were wrong about.

    It hasn't slipped us by that you were being rude to us when it was you who didn't know what the hell you were on about...
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    (Original post by Blondshavemorefun)
    Rubbish. European countries cutting university education budgets are, in no particular order:- Ireland, Greece, Italy, Portugal, Latvia, Lithuania, Poland, Croatia, Czech Republic, Estonia, Serbia, Hungary, and not increasing budget in many others.

    We are actually increasing our education funding.
    Source?

    Or rather than ask you to dig out sources for all those countries could you show that state spending on education is decreasing in Italy?
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    (Original post by Blondshavemorefun)
    How are public sector workers the most vunerable in society.
    Who said they were?

    Is this like the 'interest won't be 9%' thing, where you claim people have said stuff when they haven't...?
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    (Original post by Blondshavemorefun)
    Genuine claimants have nothing to worry about, people who can work should work, end of.
    How does changing indexation from RPI to CPI to reduce cost mean 'genuine claimants' have nothing to worry about?
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    Student loans aren't held against you when you attempt to get a mortgage or a loan after you graduate from University.

    Personally, I recently look out a credit card so that I could start building myself a good credit history which (if anything) will give banks more reason to give me money when I ask for it.

    (Original post by Blondshavemorefun)
    ?His recommendations present a radical plan to shake up higher education in England and a charter for choice for students, who will be entrusted with far more power to shape their own future. Under a new system, to be called the Student Finance Plan, no student will pay anything until they graduate and are in work.
    ?After leaving university, graduates will only begin repaying when they reach annual earnings of over £21,000 a year, up from £15,000 under the current system. Even then, the payments will be small, for example at an income level of £25,000 a year the repayments will be £7 a week.
    ?The current cap on fees of £3,290 per year will be removed, allowing universities to put quality first and charge accordingly. A tapered levy on institutions charging more than £6,000 per year will ensure that those which charge the most contribute more to supporting the poorest students. In addition, universities that wish to charge more will be required to demonstrate to the regulator and to their students both improved standards of teaching and fair admission.
    ?Demand for higher education will continue to increase and we will fund more places so that everyone who has the potential to benefit from HE gets the opportunity to do so. A 10% increase in student places will be factored into the system over the next four years.
    ?Careers advice is in need of a radical overhaul. Part of empowering our young people is ensuring they have the right information, advice and guidance to make the correct choice. This means careers advice in all schools of the kind currently being given in the private sector.
    ?Those who wish to pursue part-time study should have equal entitlement to tuition support under the Student Finance Plan. Part-time study provides a second chance for people who missed out earlier in their lives and it is important to level the playing field between part-time and full-time study.

    Ref: The Browne Report published Oct 2010 commissioned by the Labour Government (Red Ed was in that very same Labour Government, he even wrote their manifesto for the last election, and Labour were looking at massive cuts to education)
    Personally, I think the prices for University should be reduced. When people pay for something (like University) they become a customer. As a customer they seem to assume that they will get something in return for their money. There are many people on my course that expect to be spoon fed the material on the basis that they've paid £3k p.a to be there and thus they should receive something in return.

    Also, I don't personally think increasing the fees actually helps us one bit. If anything it just privatises Universities and means that after 25 years of paying your loan back, they'll just write-off a bigger amount than before. Surely that'll then put us in a worse position in the future than we're in now?

    -J
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    (Original post by Quady)
    Of course it doesn't 'clarify the situation' you have just told me a bunch of stuff I already knew and was pointing out you were wrong about.

    It hasn't slipped us by that you were being rude to us when it was you who didn't know what the hell you were on about...
    Hence the apology.
 
 
 
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