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How much is/do you reckon your total student debt will be? Watch

  • View Poll Results: what is/do you think your student debt will be?
    0-10k
    5
    5.62%
    10-20k
    3
    3.37%
    20-30k
    12
    13.48%
    30-40k
    19
    21.35%
    40k and above
    50
    56.18%

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    By the time the tories are finished ****ing us up the ass, probably in excess of 100k. Im getting through the entire 3 years in loans alone.
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    (Original post by claireestelle)
    How will paying that back work as an international student?
    I guess my dad is willing to put up 100,000 for my education. That means I'll only have a 20000 deficit in the UK which i guess can easily paid off by part time jobs and once you graduate. For the US, I'll still have a 110,000 debt. But then again, salaries in US are much higher so i guess i can pay that off in a relatively short amount of time
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    (Original post by claireestelle)
    So i bit the bullet and found out what I owe today and mine is a grand total of £15,020.35 (i m very fortunate to have come from wales and had a maintenance grant for the 2 years from sfw).
    Crippling
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    Luckily I've got a scholarship, so tuition fee debt will be mega reduced
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    (Original post by KingYusHalo)
    I guess my dad is willing to put up 100,000 for my education. That means I'll only have a 20000 deficit in the UK which i guess can easily paid off by part time jobs and once you graduate. For the US, I'll still have a 110,000 debt. But then again, salaries in US are much higher so i guess i can pay that off in a relatively short amount of time
    Just have a long and careful think about what your different options will be if things don't turn out the way you've planned. Say you/your girlfriend get pregnant, or you have a motorbike accident and end up with brain damage, or you develop debilitating anxiety and depression, or you get arrested/convicted for a minor crime which affects your legal ability to work ... my understanding is that, in the UK, you won't be harassed for money if your circumstances change and your income drops below £20,000 a year. However, in the US, you might find the government/commercial loan organisations to be a bit less forgiving. Hope for the best, but plan for the worst.
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    (Original post by mobbsy91)
    Luckily I've got a scholarship, so tuition fee debt will be mega reduced
    that's pretty lucky
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    (Original post by claireestelle)
    that's pretty lucky
    I think it is
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    Too ****ing much
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    £93,000

    Over 35k from undergrad & I'm about to start grad entry medicine. I think the interest will take it over 100k by the time my repayments are high enough to start making a dent in it.
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    (Original post by Quilverine)
    £93,000

    Over 35k from undergrad & I'm about to start grad entry medicine. I think the interest will take it over 100k by the time my repayments are high enough to start making a dent in it.
    Why so high? Getting extra means-tested loans? If so you'll probably end up with a bunch of grants as well which will make the numbers look a little less scary.

    If you did have that amount of debt you wouldn't start repaying more than the annual interest until you're earning more than £65,000 or so... so not until you're a consultant!
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    (Original post by claireestelle)
    I knew london/vet/med student loans were high but didnt realise they'd be in the 80's.
    Were they under the old systems (either lower fees or maintenance grants)? The reason my debt's do is the maintenance loan. More money at uni ( ), never paying off my debt ( )
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    okay. what the hell is a student loan/debit? my parents are just going to pay for my uni etc so when would i need a loan??????????:\
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    (Original post by gameofno)
    okay. what the hell is a student loan/debit? my parents are just going to pay for my uni etc so when would i need a loan??????????:\
    If they have over 40k to give you then that's okay But most students end up with some sort of debt be it for tution or living costs.
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    (Original post by claireestelle)
    If they have over 40k to give you then that's okay But most students end up with some sort of debt be it for tution or living costs.
    yeah they do have over 40k, but like are these debts bc students take loans from the bank?
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    (Original post by gameofno)
    yeah they do have over 40k, but like are these debts bc students take loans from the bank?
    No, this is what students owe from government loans for the most part, apart from maybe 3k in overdrafts no one could borrow anymore from banks.
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    (Original post by claireestelle)
    No, this is what students owe from government loans for the most part, apart from maybe 3k in overdrafts no one could borrow anymore from banks.
    i never even knew students took loans from the government but ok ty
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    (Original post by nexttime)
    Why so high?
    Independent mature student with a dependent (single parent). So yes I previously had some grants (now scrapped & replaced with a loan) but I had to take the absolute maximum to cover rent and bills. Not exactly easy to find student budget accommodation that is suitable to live in with a 3 year old! I think I will be getting 9k in maintenance loans and the tuition is 5.5k for 4 years. I will get 85% of my childcare costs back in term time plus housing benefit. It will still be brutally tight compared to how I get by on my current wages which aren't much.
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    One year at the lower fees plus maintenance loan whilst I was at Leicester, that's around 7k

    2 years tuition fee this time around plus maintenance loan for first year to help pay for the 9k I have to pony up for the first year.

    All in all about £28k. Not as bad as I'd expected
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    Don't know why the government didn't just go for a 8% grad tax*, would have been a lot simpler, allayed fears by some of being in 'debt', and would've saved so much administrative work in terms of calculating debts, unis offering extra grants, etc.


    *Ok, I do know why. Its because Dave's mates' children would have been hit hard by that, which is just unacceptable.
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    As an irish student this seems crazy to me. My fees are covered 100% and I recieve a decent maintenance grant that I could survive off.

    Living at home I could easily afford to not work and still end up without debt.
 
 
 
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