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Graduates 'could pay back double their student loans' Watch

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    (Original post by Teveth)
    Labour was the best thing to ever happen the middle class. In fact, it was Labour that created the modern middle class.
    Thatcherism created the Modern Middle Class, and Labour continued those same policies strengthening it. The Labour Party utilised Conservative economic policies because there previous ones could only get them votes from the Working Classes, Middle or Upper class would have never voted Labour pre-1997 based on those policies. They had to take Conservatives ones to get there support.
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    (Original post by The_Male_Melons)
    Really?

    I agree £9000 is a lot. Why should it stop you from going to university? It shouldn't. Anyway, the deal is fairer because you don't even have to pay most of it back until you earn £210000 or above. In fact read the BBC, it will show you how fair the proposals are.

    Really? What do the tories stand for? Do you believe in lil mermaids? The myth that the tories prioritize the upper-middle classes. Since when?

    In fact they have done more to help those in poverty than Labour- benefits system, NHS, health and safety and work regulations etc...

    Tony Blair introduced tuition fees after promises that he wouldn't. Do you hate everything Labour stands for?
    I didn't say anything about labour, I expressed my opinion on the Conservatives. Don't insult me, the tories DO stand for supporting the middle and upper-classes... And I think this because of what they SAY and what they've DONE, not because of what I've heard.
    They want to take away certain benefits, or make it so people who deserve it sometimes can't get it... They make cuts, which while a certain amount is needed, this shouldn't be done in a way that just makes the country worse.
    I really can't be bothered with lots of examples, like I said it's going off topic.

    The tories really HAVEN'T done anything to help those in poverty, the things you listed seem to be things that they've done the opposite to.

    I didn't say anywhere that the £9000 fee will stop people going... I said it's disgraceful that it should cost so much to have a chance at decent jobs... So you're twisting my words.
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    (Original post by The_Male_Melons)
    Really?

    Even that left leaning paper called the independent couldn't write a rave review on "Labour's decreasing child poverty":

    http://www.independent.co.uk/news/uk...s-1681047.html
    The independent... left? Jesus. That's not what I'd call it. lol
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    (Original post by Maker)
    http://www.bbc.co.uk/news/education-12767850

    Some graduates could end up paying back double their original student loans under the new fees system in England, figures calculated for the BBC suggest.



    Looks like more people being screwed by the government.
    What they are doing is utterly stupid.

    Right now they are cutting university budget - the kids that will go to uni in 2012 (my year :'( ) will be taking out loans and giving money to universities (TAKING OUT MONEY - OUR COUNTRY DOESN'T HAVE). Hardly anyone is going to pay the fees up front.

    Ok so presumably somehow the country will find the money for all of these loans for the next 5 years (£9k + living expenses per head a year) - then the brand new shining graduates will start paying back (that is if the economy will improve and this whole idea won't leave us bust and there will actually be jobs for new graduates to take), if this will be the case then everyone will take these new ridiculous fees as a norm and universities will flood with new applicants yet again (good for the economy in 10 years time when the graduates will start repaying decent sums, again presuming the economical climate will improve), but what about the new flood of students that will be taking out even more loans???



    I fear of what is to happen to Britain in the nearest future....
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    The gap between the rich and poor grew every year that Labour were in office, so much for socialist roots.

    I personally voted Conservative at the last election and if an election were held tommorow, i would do it again. I voted for them because they are willing to do what is best for the economy in the medium to long term as opposed to Labours short term approach. This means slashing the defecit as quickly as possible.

    In regards to the topic at hand, i am arguably the poorest of society and while i understand the principal of paying £27k as opposed to £10k, it is not something that should make people seriously worry about university unless you are directly in the middle class. If you were poor enougth to qualify for grants/loans under the current system, you will still be poor enougth to qualify under the new system. Also, you will not lose your home paying this back, it is meerly a 9% tax hike after £21k for upto 30 years.
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    How in any way is paying back more of your original loan than someone else fair if you're a higher earner? Those who end up getting higher paying jobs usually do so thanks to their hard work, why should they have to pay more? Paying fees for early repayments is ridiculous as well..
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    (Original post by Teveth)
    I support some individual graduate contribution. I think a contribution of £1000-£3000 per year is fair, providing generous grants and loans are available...which was the case under Labour.

    The new level of fees, and the conditions attached to the loans, are an absolute scandal. The level of debt that the student will be left with at the end of their degree is staggering.

    And as I say, for those school kids and parents who supported Tory or Lib Dem during the election campaign, it serves you right.
    Indeed, it's not like Labour were planning to do the same thing under Brown after the election, or that it was even their idea in the first place, is it? :facepalm:

    Your political blindness and propaganda continues to be stunning, Teveth, congratulations.
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    This country is so ****ed.
    It is hammering peoples spending power and putting people off going into further education.
    **** this hole, I'm going abroad.
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    (Original post by Millyshyn)
    How in any way is paying back more of your original loan than someone else fair if you're a higher earner? Those who end up getting higher paying jobs usually do so thanks to their hard work, why should they have to pay more? Paying fees for early repayments is ridiculous as well..
    Its actually more like a bell curve.

    Those earning the least won't pay it all back, those earning more will pay all of it back plus a load of interest (so will pay the most), and those earning the most will pay all of it back with less interest (because they'll pay it quicker).
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    (Original post by Rakas21)
    The gap between the rich and poor grew every year that Labour were in office, so much for socialist roots.
    Sadly I am directly in the middle class. I can't blame the Conservatives for missing me out of there big plans, with people in my position being worse of, as this has always been the case....the forgotten middle class. Not rich enough to afford anything and not poor enough to get help with anything. Although I do believe that this will only get worse under this new government.

    However, I can not see how Labour increased the gap between rich and poor. The true effects of these fee increases will only become apparent in several years to come when the line between rich and poor becomes so defined that the middle class becomes obsolete.

    I do not like the conservatives for many reasons. They are traditionalists and have some very outdated ideas on how society should be. They have no idea of the working class life and quite frankly are just going to screw over everyone but the upper classes.
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    ITT: People who think other people should pay for their degrees.
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    (Original post by NGC773)
    ITT: People who think other people should pay for their degrees.
    I think that everyone deserves the chance to gain a qualification to do well in life and pursue the job they like... Regardless of their family background.
    Most people in this country can not afford that outright, without loans, and I think the government should definitely cover some of the costs. (SOME, as in funding the unis).

    If this was done properlly, it wouldn't simply be costing the government money because 1. loans are paid back, with extra. and 2. those people can then go onto getting decent paid jobs in which THEY pay taxes and help towards the economy.
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    (Original post by Teveth)
    The new level of fees, and the conditions attached to the loans, are an absolute scandal. The level of debt that the student will be left with at the end of their degree is staggering.
    You mean the new system where the rich pay back exponentially more than the current system and the poorest pay back less with many (if not most)) paying back nothing? - Yeah, that does sound terrible :rolleyes:;

    God damn champagne socialists and their pre-school economics.
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    (Original post by Teveth)
    I support some individual graduate contribution. I think a contribution of £1000-£3000 per year is fair, providing generous grants and loans are available...which was the case under Labour.

    The new level of fees, and the conditions attached to the loans, are an absolute scandal. The level of debt that the student will be left with at the end of their degree is staggering.

    And as I say, for those school kids and parents who supported Tory or Lib Dem during the election campaign, it serves you right.
    What you get when you vote labour is rediculous spending and stealth taxes...atleast with this government you know what to expect.
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    After 30 years, the student has paid back £78,882 in cash terms, and still owes £14,513, which is written off.
    Can somebody explain why they pay so much? Interest couldn't be that much surely...?
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    In the last 30 years, inflation has over doubled the cost of things (and the average income, btw). Why is this shocking to anyone?
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    (Original post by Smophy)
    I watched this on the news this morning. They also said they are looking at charging for early repayments!! You might as well go ahead and get your degree on a credit card! Student loans are only going to end up the same as any other loan with this posh-tosh government.
    I KNOW!! WTF IS THAT ABOUT!!!! :mad::mad:
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    The BBC article has at least one massive flaw in its calculations.

    If after 30 years the total amount paid back is £78882 (see spreadsheet on BBC link), due to inflation this will only be an equivalent of £43548 if inflation stays at 2% (used in the spreadsheet) which is not much more than the initial £39000 debt. It is ridiculous and misleading to compare the overall cost of the loan in 30 years time by using the value of the pound today. If your going to complain about this then maybe you should consider complaining to mortgage lenders why you have to pay even more than double the amount you borrowed on your mortgage (of course with repayment terms far less generous than tuition fees)

    The whole point of the new tuition fees is that, while they cost more, they're designed to be paid back over a longer period and therefore more affordable when you are earning under the average salary. This is just completely shoddy journalism by the BBC aimed at creating sensationalist headlines which just confuses new students.


    This country is so ****ed.
    It is hammering peoples spending power and putting people off going into further education.
    **** this hole, I'm going abroad.
    Great. If your too dumb or downright ignorant to understand why the new fees are more affordable and progressive then you don't deserve further education.
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    (Original post by garethDT)
    You know a lot of teenagers with £27k in savings do you?
    Who said anything about them having any savings?
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    (Original post by Llamaman)
    The BBC article has at least one massive flaw in its calculations.

    If after 30 years the total amount paid back is £78882 (see spreadsheet on BBC link), due to inflation this will only be an equivalent of £43548 if inflation stays at 2% (used in the spreadsheet) which is not much more than the initial £39000 debt. It is ridiculous and misleading to compare the overall cost of the loan in 30 years time by using the value of the pound today. If your going to complain about this then maybe you should consider complaining to mortgage lenders why you have to pay even more than double the amount you borrowed on your mortgage (of course with repayment terms far less generous than tuition fees)ore affordable and progressive then you don't deserve further education.
    Inflation is what makes the loan more expensive. Its rising earnings which reduces the cost.

    Its all very well saying the pound will be of lower value which makes the loan the same size, but if average earnings don't keep up with inflation the loan increases in size.
 
 
 
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