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Should I be worried about this huge amount of debt? Watch

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    I graduated in 2016 with a degree in psychology, leaving with around 50K debt, I worked full time for a year and now I am doing another degree in MH nursing which the rules have recently changed for meaning I'm eligible for another 3 years student finance funding. By the time I graduate again I will be in about 110k student debt. I already pretty much accepted when I graduated last time that I will never pay it back... do you think I should be worried about this HUGE amount of debt moreso or not? The way i see it it isn't really like *real* debt compared to any other type of debt you can get...
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    I would not worry about the debt you are in as worrying will not change it. Also, you do not have to pay it back until you earn over £21,000. Furthermore if you do not pay it back within 30 years the debt gets wiped out, so by all means try to pay it back, but do not worry if you do not. It is not like you have to pay back a loan shark or anything, and you will get a great education as a result which will help you to help people, money well spent I say.
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    (Original post by dougyb95)
    I graduated in 2016 with a degree in psychology, leaving with around 50K debt, I worked full time for a year and now I am doing another degree in MH nursing which the rules have recently changed for meaning I'm eligible for another 3 years student finance funding. By the time I graduate again I will be in about 110k student debt. I already pretty much accepted when I graduated last time that I will never pay it back... do you think I should be worried about this HUGE amount of debt moreso or not? The way i see it it isn't really like *real* debt compared to any other type of debt you can get...
    The amount is irrelevant if the interest is more than your repayments as you'll never pay it off anyway. Basically just accept it as a 9%(?) extra tax for the next 30 years. Makes no difference if the amount 'owed' is 10k/100k/1million
 
 
 
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