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    The BBC have just said that a student starting uni in 2102 and earning slightly above average on leaving uni will pay £83,000 over 25 years to clear their student loan.

    Is £83,000 too much to pay for a degree?
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    I can't believe it'd be that much...although, after some short reflection, what's 83000 divided by 25? Around 3800 a year? If you're earning over 21,000 a year, that'd be annoying, but not tragic, I guess...and if you go to a top uni, which will be the ones, I presume, that would cost you 83,000, you should be earning more and more each year...I just can't get overly worked up about it. If it was going to cripple you for years to come, people just wouldn't go to uni...
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    It does sound like a huge scary amount but not one that I'm going to get hung up on. Like KingMessi said spread over 25 years it's not going to be a huge amount. I guess the trick is to either do a degree which you know will end in a high paying job or make sure you never earn much more than minimum wage so you don't have to pay it back. I know which one I'll be doing.
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    Income tax is what kills your pay packet and if anyone's every had a job they would know how much the tax your paying out each year. In relation to paying back student loans its best not to fret over it too much as it will just add to unnecessary worries over your academic years. I'm just hoping I will be earning enough to take care of my family and lead a better lifestyle aswell as fine tune my educational attainment as I don't want to be brain dead and working a dead end job for the next 50 years.
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    Stick that in your pipe and smoke it!!
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    Well I'm not worried. 2102 is a long time away.
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    If I was applying for 2012 entry, I would be thinking very seriously about whether this was worth it, and looking into doing degrees in other countries, which may have no tuition fees.

    If you're doing a degree for purely financial reasons, £83k lifetime expenditure for the extra £100k lifetime graduate earnings is not actually that great. I don't think home students will continue going to British universities in such great numbers, when there are options in continental Europe which wouldn't leave you with anywhere near as much debt.
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    It's a stupid figure because it isn't inflation adjusted.
    The 83k figure comes from a graduate who is earning ~£70,000 a year by the time they pay it off, so in that context it's not too bad.
    The really nasty bit of this fees reform wasn't the fees themselves, it was the above-inflation interest. I think it's outrageous.
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    (Original post by mcgovernjon)
    Well I'm not worried. 2102 is a long time away.
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    (Original post by mcgovernjon)
    Well I'm not worried. 2102 is a long time away.
    I'm not worried, the world's gunna end in 2012
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    (Original post by jami74)
    It does sound like a huge scary amount but not one that I'm going to get hung up on. Like KingMessi said spread over 25 years it's not going to be a huge amount. I guess the trick is to either do a degree which you know will end in a high paying job or make sure you never earn much more than minimum wage so you don't have to pay it back. I know which one I'll be doing.
    That is £3320 a year. Considering that is roughly what we are paying a year for three years, I would be pissed if I had to pay that 25x over.
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    (Original post by adam_zed)
    That is £3320 a year. Considering that is roughly what we are paying a year for three years, I would be pissed if I had to pay that 25x over.
    Except you only pay back 9% of what you earn over £21000 per year so you'll nowhere near be paying back that amount.
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    Doesn't bother me; I'll finish uni with little to no debt. To be honest most people who go to uni they don't care about fees - they want a degree to better themselves.
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    Just run away to Europe or somewhere and pay nothing.
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    (Original post by inksplodge)
    Doesn't bother me; I'll finish uni with little to no debt. To be honest most people who go to uni they don't care about fees - they want a degree to better themselves.
    Completely agree with this. I don't care what the fee is when I go to university, I'll still pay it, as long as the current financial assistance and bursary schemes are in place to help someone like me from a poor background who has nobody else to obtain financial assistance from. I've experienced the alternative of working dead end jobs with no prospects and it is soul destroying.
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    (Original post by cambo211)
    Except you only pay back 9% of what you earn over £21000 per year so you'll nowhere near be paying back that amount.
    Did you read the OP's article? Which is kind of what this whole thread is about.
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    (Original post by KingMessi)
    I can't believe it'd be that much...although, after some short reflection, what's 83000 divided by 25? Around 3800 a year? If you're earning over 21,000 a year, that'd be annoying, but not tragic, I guess...and if you go to a top uni, which will be the ones, I presume, that would cost you 83,000, you should be earning more and more each year...I just can't get overly worked up about it. If it was going to cripple you for years to come, people just wouldn't go to uni...
    Why 25 years and not 30?

    To pay £3,840/year off you'd need to be earning on average £63k...
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    (Original post by kerily)
    If you're doing a degree for purely financial reasons, £83k lifetime expenditure for the extra £100k lifetime graduate earnings is not actually that great. I don't think home students will continue going to British universities in such great numbers, when there are options in continental Europe which wouldn't leave you with anywhere near as much debt.
    Actually, the £100,000 figure does not apply to arts graduates who on average earn £34,000 more than none graduates over their working life. http://news.bbc.co.uk/1/hi/education/8401267.stm
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    (Original post by kerily)
    If you're doing a degree for purely financial reasons, £83k lifetime expenditure for the extra £100k lifetime graduate earnings is not actually that great.
    100k - increase in fees - decreasing difference between grad and non-grad pay
 
 
 
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