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    I'm thinking to take gap year,however, if they will rise tuition fees to 12,000 as I heard ,I'll have to go uni this year. Does anybody know how much it will cost?
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    (Original post by Carolinec1206)
    I'm thinking to take gap year,however, if they will rise tuition fees to 12,000 as I heard ,I'll have to go uni this year. Does anybody know how much it will cost?
    The short answer is no.

    Each uni can decide its own tuition fees, which may vary between courses. *If* the government decides to remove or increase the current £9000 maximum, then I'm sure some unis will hike their prices. Unless they have a policy already in place - which is unlikely - there's no way to predict which unis/courses might theoretically charge the new maximum.
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    (Original post by Klix88)
    The short answer is no.

    Each uni can decide its own tuition fees, which may vary between courses. *If* the government decides to remove or increase the current £9000 maximum, then I'm sure some unis will hike their prices. Unless they have a policy already in place - which is unlikely - there's no way to predict which unis/courses might theoretically charge the new maximum.
    Thank you very much I hope they will decide before August.
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    Will it make much difference to you if the tuition fees increase? It's predicted that a lot of people won't end up paying back their loan at the moment let alone with a fee hike, you have to earn an average of £30,000 over 30 years just to pay back tuition fees let alone maintenance, and that's ignoring the interest that your loan accrues so it's probably more like £37,000 on average over 30 years.
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    (Original post by Helloworld_95)
    Will it make much difference to you if the tuition fees increase? It's predicted that a lot of people won't end up paying back their loan at the moment let alone with a fee hike, you have to earn an average of £30,000 over 30 years just to pay back tuition fees let alone maintenance, and that's ignoring the interest that your loan accrues so it's probably more like £37,000 on average over 30 years.
    Don't you ? If I earn around 65,000 per year than I should pay the loan within 10 years including the interest . Also ,it does matter for me as I'm planning to do masters ,phd and bar examination which is altogether over £100,000 including maintenance loan so I'll be in debt for the whole of my life hahah
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    (Original post by Carolinec1206)
    Don't you ? If I earn around 65,000 per year than I should pay the loan within 10 years including the interest . Also ,it does matter for me as I'm planning to do masters ,phd and bar examination which is altogether over £100,000 including maintenance loan so I'll be in debt for the whole of my life hahah
    IF you earn 65,000 per year, I think you underestimate how rare it is to earn that much, and if you are earning that much then the extra £9,000 is a drop in the bucket so suck it up and pay your tax.

    If you're in this hypothetical situation putting you en route to earning 65k then your masters and PhD will be funded, in fact having an unfunded PhD looks somewhat bad. So it's more like £50-60k of debt in total.
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    (Original post by Helloworld_95)
    If you're in this hypothetical situation putting you en route to earning 65k then your masters and PhD will be funded, in fact having an unfunded PhD looks somewhat bad. So it's more like £50-60k of debt in total.
    PhD funding is non-repayable. Masters funding will only be repayable if you take out the new postgraduate loan - if you get funding from e.g. uni, research council, scholarship etc., that would be non-repayable.

    Theoretically it's possible to go right through academia to post-doc level without racking up more than undergrad debt. Admittedly that would be pretty rare in the Humanities these days - the postgrad loan is being introduced to plug the gap in Masters-level funding.

    Worth noting that there's currently no commercial loan or Student Finance-style funding for PhDs, although the government has suggested setting something up. At the moment, if you don't get a funded PhD, then you need substantial savings, a sympathetic well-off family and/or a job for the duration.

    Having said that, it wouldn't be unusual to just come out of an SFE-funded undergrad degree owing over £50k. 3 x £9k = £27k Tuition Fee Loan, 3 x £8 = £24k maximum Maintenance Loan, gives a potential total undergrad debt of £51k.
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    1. Klix88 , Helloworld_95
    Well ,I don't know what I'll do now but thank you very much for your advise
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    (Original post by Carolinec1206)
    I'm thinking to take gap year,however, if they will rise tuition fees to 12,000 as I heard ,I'll have to go uni this year. Does anybody know how much it will cost?
    Fees *might* go up for 2017/18 - there's a green paper out at the moment that proposed this....but it's still a green paper and nothing has come out confirming things yet, never mind got to parliament or through the lords.

    The proposed rise wasn't to £12k though. The proposal was that universities who have a good rating on teaching quality from the QAA would be able to increase fees in line with inflation in 17/18. There's a further proposal to then maybe allow slightly above inflation raises in later years for universities with good "teaching excellence" (as measured in some undefined as yet way)...but it's going to take a while to approach £12k and the increases are locked in to the year you start so you can't end up paying more part way through.
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    (Original post by Carolinec1206)
    Don't you ? If I earn around 65,000 per year than I should pay the loan within 10 years including the interest . Also ,it does matter for me as I'm planning to do masters ,phd and bar examination which is altogether over £100,000 including maintenance loan so I'll be in debt for the whole of my life hahah
    Nobody earns £65,000 straight after graduating though- it would take several years to work up to this level, and as soon as you pass the threshold, your 30 years start ticking down. Equally, you may find you don't work straight through those 30 years- if you take a year or two out having children or for some other reason and aren't earning, you'll stop paying things back but those years will still count towards the 30 years before the debt is written off.

    As others have explained, you'd only get into this kind of debt for your undergraduate degree and possibly your masters. If you got into commercial debt (e.g. overdraft, credit cards etc) that would be a whole separate issue, and you'd usually be expected to make payments on this ASAP.

    So yes, you'll be in debt for most of your working life- but you'll also be paying tax all of your working life (and this will be a much bigger proportion of your earnings). In some ways it's easier to think of student loan debt as a graduate tax.
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    the way you pay back your loans is well proportioned to how much you earn

    and it will be that way regardless of how much they put fee's up by

    so just do what your gonna do

    i would like to hope that by the time im 35 ill be making enough to have already paid it off lol
 
 
 
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