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We should scrap tuition loans and have a graduate tax Watch

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    (Original post by Vikingninja)
    Ok nvm for some reason a specific website on it gave a weird figure. Though really your idea pretty much sounds like the current thing but however someone who is getting a better job has to pay more. Why should someone who has done the same degree as another person pay more for the exact same thing because they're more successful? Say that there are two engineering students, one was lazy and got a low grade one and didn't do **** all, other got a first and loads of experience and became rather successful. Why should that person who has done better because he put more effort in have to pay more?
    No system is perfect and it's really important that we incentivize hard work. In reality the person who is earning far more had already won. Would you rather pay 2% on 40k earnings or 1% on 20k?
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    (Original post by niteninja1)
    Problem is paying back your loan works like a tax. No matter how much you owe or how much it goes up in Intrest you pay 9% of innings over £21,000. So if you earned £21,100 you will pay £9 a year. This is before tax as well so for high earners your tax will be lower.

    £9 for every £100 over the limit is not bad.

    After 30years loan is wiped out.

    Helps the national budget.

    If anyone says the loan is the reason they won't attend university they really need to have a think. If that puts them off then they clearly weren't up to university standard anyway.

    Conservative supporter and proud.

    #voteleave
    This^

    Except the leave bit, don't listen to that

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    (Original post by Princepieman)
    They have considered it.

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    When was it considered? I didn't give them any of that information when applying for student finance
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    (Original post by john2054)
    I actually agree with this. Attendance on my degree was also terrible, but then the people who showed up on the last day always somehow managed to get firsts and 2.1s whereas the sloggers like me ended up with our passes and thirds, even though we had attended 100% attendance!!
    It can seem like this, there are a few people who manage this, but I really don't think this is the case in general. Trouble is, you don't always notice all of the people who drop out because of poor attendance, because they were never in lessons anyway. Even so, the people who do manage it seem to be pretty talented, or at least pretty able, but don't do as well as they probably COULD if they showed up to lessons more regularly. Either way, they're wasting resources that could benefit others.

    btw, don't let these people discourage you too much, in the end they're not getting that good an education anyway, even if their grades are good. Their also missing out on contact with lecturers, which means they're missing out on opportunities you could be taking advantage of. If you know your lecturers well, it'll only help when you come to ask them for references.
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    (Original post by elizahughes)
    When was it considered? I didn't give them any of that information when applying for student finance
    If you do a bit of googling you'll see that they deduct a certain amount from your parents' gross income for each dependent child (either at school or uni).

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    (Original post by Associativity)
    It can seem like this, there are a few people who manage this, but I really don't think this is the case in general. Trouble is, you don't always notice all of the people who drop out because of poor attendance, because they were never in lessons anyway. Even so, the people who do manage it seem to be pretty talented, or at least pretty able, but don't do as well as they probably COULD if they showed up to lessons more regularly. Either way, they're wasting resources that could benefit others.

    btw, don't let these people discourage you too much, in the end they're not getting that good an education anyway, even if their grades are good. Their also missing out on contact with lecturers, which means they're missing out on opportunities you could be taking advantage of. If you know your lecturers well, it'll only help when you come to ask them for references.
    This is actually a good point. Although it may not have always felt like it at the time, the years i spent doing my BA were the most rewarding of my life, god bless university!?!
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    (Original post by Princepieman)
    If you do a bit of googling you'll see that they deduct a certain amount from your parents' gross income for each dependent child (either at school or uni).

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    Well that doesn't seem to be the case for me because I'm entitled to the bare minimum maintenance loan
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    (Original post by elizahughes)
    Well that doesn't seem to be the case for me because I'm entitled to the bare minimum maintenance loan
    Then the deduction wouldn't have made a difference anyway given the level of your parents household income

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    Student loans are already a form of graduate tax in disguise. As most graduates can expect to earn over £21,000 at some point in their careers, the government receive 9% of all income earned over this amount after tax and national insurance has been deducted. Presently the loan is written off after 30 years which means that the maximum amount of time that an individual will pay the "hidden tax" is 30 years. However considering that the majority of workers will work for over 40 years, this means that the graduate tax will be paid for over the current 30 years.

    Taxes must be paid for the entire working life of a person, but the loan can be paid off and then no money needs to be paid afterwards.

    Say someone earns £25,000, it is better to pay 9% of £4,000 than 5% of £25,000.
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    (Original post by Princepieman)
    Then the deduction wouldn't have made a difference anyway given the level of your parents household income

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    Yet getting together all the money for multiple children at university will be a struggle, which was my point
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    (Original post by Powersymphonia)
    Student loans are already a form of graduate tax in disguise. As most graduates can expect to earn over £21,000 at some point in their careers, the government receive 9% of all income earned over this amount after tax and national insurance has been deducted. Presently the loan is written off after 30 years which means that the maximum amount of time that an individual will pay the "hidden tax" is 30 years. However considering that the majority of workers will work for over 40 years, this means that the graduate tax will be paid for over the current 30 years.

    Taxes must be paid for the entire working life of a person, but the loan can be paid off and then no money needs to be paid afterwards.

    Say someone earns £25,000, it is better to pay 9% of £4,000 than 5% of £25,000.
    Yes a form of tax but labelled a tax. Hence the view of dishonesty on the part of the gov. Also, every 5 years there is going to have to be a raising of the tuition fees to account for inflation.
 
 
 
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