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    He basically has said someone who graduates and gets a salary of £21000

    will pay back just £7 per month

    After 30 years the debt gets wiped.

    If a degree costs £9000 per year tuition x 3 = £27,000 debt for 3 year course

    Plus maintenance - lets say £5000 per year so x 3 = £15,000

    Then £5,000 extra through overdrafts etc.

    Total debt = £47,000.

    ----------------------------------

    In 30 years there are obvious 360 months. (30 x 12 = 360)

    360 x £7 per month he says = £2520 paid back of £47,000

    ----------------------------------

    Therefore, he is a blatant liar or he struggles with maths.

    That would leave the taxpayer at a £44,500 deficit.

    The fact is someone who is on £21,000 per year would pay back £157.50 per month (9% of their income). This is £150 more per month than the figures hes putting forward.

    ----------------------------------

    Yes I know many graduates will get promotions and earn more and pay back more. However, a lot will not get jobs which will leave a burden on the taxpayer who in the end will be the rest of the graduates.


    He is 100% trying to pull a fast one and its not working. Welsh students now have success and will not have fee's increased, I hope our fellow English students have the same outcome.

    Do you know how sickening it will be to go to university and for me to pay £3290 because I'm Welsh yet someone who is English has to pay £6000-9000 for the same degree. I think that is extremely unfair.

    It will cause national tension and division of the classes.
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    I agree with your message, i.e. division caused by different fees for different nationalities, but could you provide the link for where Clegg says £7 a month?
    I'm not suggesting you're lieing, just haven't heard that figure before.

    Edit: Thanks Rancorous
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    £21,000 is the minimum salary to start paying back, not sure what the actual figures are but I'm pretty sure the average graduate salary is a fair bit more that that.
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    Yet another ****-up by these dummies who are in charge of our country. After the tuition fee fiasco and the recent comment an MP made regarding how benefit cuts will encourage the poor to breed I think Mr. Milliband must be busy contemplating which colour he will be redecorating his room in 10 downing street with.
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    (Original post by jb9191)
    Total debt = £47,000.
    Ever considered getting a part time and/or summer job?
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    OP you are exactly right, by increasing fees and thus loans to cover the fees all it means is people have bigger debts that will never get paid back. Reducing the deficit? I dont think so!
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    No no no!

    It's 9% of your income OVER £21000!

    Someone on £21500 thus pays back 9% of £500!
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    (Original post by jb9191)
    ....

    Hardly any graduates will be unemployed for 30 years unless they choose to be (ie housewives)! They may not have a 'graduate job' but should be able to find some kind of job for almost all of that 30 years.
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    We should go upto him with a contract saying we'll pay back £7 a months for 30 years if he gives us a loan for £9k a year tuition fees and £5k a year living expenses. Once he signs it, we're in the green xD.

    He'll probably go against the contract like he did with his promises in the election campaign earlier this year.
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    (Original post by jb9191)
    He basically has said someone who graduates and gets a salary of £21000

    will pay back just £7 per month

    After 30 years the debt gets wiped.

    If a degree costs £9000 per year tuition x 3 = £27,000 debt for 3 year course

    Plus maintenance - lets say £5000 per year so x 3 = £15,000

    Then £5,000 extra through overdrafts etc.

    Total debt = £47,000.

    ----------------------------------

    In 30 years there are obvious 360 months. (30 x 12 = 360)

    360 x £7 per month he says = £2520 paid back of £47,000

    ----------------------------------

    Therefore, he is a blatant liar or he struggles with maths.

    That would leave the taxpayer at a £44,500 deficit.

    The fact is someone who is on £21,000 per year would pay back £157.50 per month (9% of their income). This is £150 more per month than the figures hes putting forward.

    ----------------------------------

    Yes I know many graduates will get promotions and earn more and pay back more. However, a lot will not get jobs which will leave a burden on the taxpayer who in the end will be the rest of the graduates.


    He is 100% trying to pull a fast one and its not working. Welsh students now have success and will not have fee's increased, I hope our fellow English students have the same outcome.

    Do you know how sickening it will be to go to university and for me to pay £3290 because I'm Welsh yet someone who is English has to pay £6000-9000 for the same degree. I think that is extremely unfair.

    It will cause national tension and division of the classes.
    A number of problems with this.
    1. 21000 is the minimum salary you pay back after 30 years most graduates will be earning well over this.
    2. the maintenance loan for people outside london is just over £3000 per year so it's 3x3000 your personal debts like overdrafts are not factored in

    theoretically someone only earning 21,000 for the rest of their life would pay back what you sai, but their total debt owed to student finance wouldn't be that high.
    You've manufactured a situation not reresentative of most graduates and fudged your numbers, so you fail.
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    (Original post by angelmxxx)
    No no no!

    It's 9% of your income OVER £21000!

    Someone on £21500 thus pays back 9% of £500!
    This
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    It's 9% over £21,000, not 9% of £21,000...

    The money you claim will be taken from the taxpayer is already being done so; the difference is that high earning students will actually foot a lot of the bill, cutting the cost to the taxpayer.
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    (Original post by Jonah Joffe)
    I agree with your message, i.e. division caused by different fees for different nationalities, but could you provide the link for where Clegg says £7 a month?
    I'm not suggesting you're lieing, just haven't heard that figure before.

    Edit: Thanks Rancorous
    http://www.bbc.co.uk/news/uk-politics-11870818

    He said this in the house of commons.

    I was listening to his speech on BBC News 24.
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    (Original post by Elwyn)
    Yet another ****-up by these dummies who are in charge of our country. After the tuition fee fiasco and the recent comment an MP made regarding how benefit cuts will encourage the poor to breed I think Mr. Milliband must be busy contemplating which colour he will be redecorating his room in 10 downing street with.
    Ah yes, the leader of the party who not only introduced tuition fees after pledging in their manifesto that they wouldn't, but also commissioned the Browne review and now have a shadow cabinet who are divided between a graduate tax and fees, and have no real solution to the funding crisis?

    He should probably spend a bit more time creating policies, and a bit less time thinking about interior design.
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    (Original post by mathmagician)
    A number of problems with this.
    1. 21000 is the minimum salary you pay back after 30 years most graduates will be earning well over this.

    Where is the proof most graduates will be earning over this. Sooner or later, this country will have more than enough graduates in each field and therefore they will get lower end jobs whilst still applying for a job that relates to their degree. Its already happening with graduates applying for jobs in there hundreds. Dont assume graduates will get a job over this as having a degree doesn't automatically get you a job. Also, due to the international economic climate there will be a lot of cuts made throughout various sectors meaning jobs are going to be hard to come by. Many IT firms are outsourcing to Asia and the job salaries will be based on the cost of living rather than here meaning you may get a good amount of money to live in an Asian country but you will still be below the threshold to pay back the loans.

    2. the maintenance loan for people outside london is just over £3000 per year so it's 3x3000 your personal debts like overdrafts are not factored in

    No. You can get a maintenance loan upto just under £5,000. 75% is non means tested and 25% is means tested. Those who are above the income threshold can get a loan of roughly £3500 each year, whereas those who are not eligible for the grant but are still below the threshold can get a bigger loan, upto just under £5000 per year.

    theoretically someone only earning 21,000 for the rest of their life would pay back what you sai, but their total debt owed to student finance wouldn't be that high.
    You've manufactured a situation not reresentative of most graduates and fudged your numbers, so you fail.

    [B]Again you're wrong. My estimates are based on the £9000 tuition fees proposed. Some universities like Oxford and Cambridge will be able to charge £12000 which will only increase the debt total.

    The figures I used were based on a middle class student who could take out the maximum maintenance loan. Regardless of this, even with lower class students the debt is only going to be £5000 odd less. They still are getting hit hard by these proposals.


    If I'm at Cambridge doing Computer Science for £12,000 per year.

    That's £36,000 for a 3 year course. Forget sandwich courses, we'll keep it simple.

    Now maintenance loan of lets say £3,500 for those 3 years = £10,500.
    That may or may not cover accommodation.

    Then you have an overdraft of £2000. That's roughly £50,000 worth of debt for a 3 year course. Even more for middle class students as the maintenance loan is higher as they don't get the grant or only a partial grant.


    Its obvious that there will be a lot more students with over £40,000 worth of debt.

    Now, to pay that back in 30 years you would be paying quite a lot back each month. A lot more than under the current system I can assure you.
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    (Original post by jb9191)
    http://www.bbc.co.uk/news/uk-politics-11870818

    He said this in the house of commons.

    I was listening to his speech on BBC News 24.
    Just skimmed the article. He actually said that average repayments of a graduate earning £21,000, then promoted to a £27,000 job after 20 years, would be £7 per month. It's still wrong, but so are you.

    (£21,000 - £21,000) x 9% x 20 years = £0

    (£27,000 - £21,000) x 9% x 10 years = £5,400

    (0 + £5,400) / 30 years = £5,400 / 30 years = £180 / year

    £180 / 12 months = £15 / month

    That's what I get as the average. It's still only £450 per year for once the graduate earns £27k, though, which is pretty reasonable; and still lower than current repayments.
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    (Original post by jb9191)
    Now, to pay that back in 30 years you would be paying quite a lot back each month. A lot more than under the current system I can assure you. [/B]
    The point is, you don't have to pay back the whole thing. After 30 years, any remaining debt is wiped, so regardless of your repayments, after 30 years, you will be debt free.

    I think you have gotten mixed up about some facts.
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    (Original post by Phil2202)
    The point is, you don't have to pay back the whole thing. After 30 years, any remaining debt is wiped, so regardless of your repayments, after 30 years, you will be debt free.

    I think you have gotten mixed up about some facts.
    The whole point of the loans is to pay them back.

    I know it gets wiped after 30 years, this is stated in the original post.

    However, if the graduate does not pay back the total amount then that is a burden on the taxpayer.
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    (Original post by jb9191)
    The whole point of the loans is to pay them back.

    I know it gets wiped after 30 years, this is stated in the original post.

    However, if the graduate does not pay back the total amount then that is a burden on the taxpayer.
    Where do you think the money comes from at the moment? It comes from the taxpayer.

    The raised fees with simply mean that the costs will be largely covered by the high earning graduates, who will pay back the full cost if their loan.
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    (Original post by jb9191)
    some rubbish
    Don't talk about Nick's inadequate maths when your own figures are inaccurate. You repay 9% of whatever is earned over £21k, NOT the gross salary. Therefore someone on £22k would repay 9% of £1,000.
 
 
 
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