Student Loans Company applying pressure methods on their loan figure

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Fullofsurprises
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#1
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Martin Lewis is calling out the SLC to remove the 'total debt' and 'fast repayment tool' from their site. Lewis says this gives a false picture of the burden on students, given that a large percentage will never repay their loans under the stated arrangements.
https://www.theguardian.com/educatio...ding-graduates

It does seem as if this is a wheeze that the SLC have come up with to apply psychological pressure and try to push students into repayments they wouldn't otherwise have to make. Perhaps the Nudge Unit have come up with this one - they are responsible for many manipulative things the government currently does, although they have been ineffective bordering on useless during the Covid crisis.

Students don't need to repay their student loans early.
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RedGiant
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How is having an option to repay some/all of your loan early “psychological pressure”? What about the wealthy that would rather pay some/all of it off early?

Would you rather students just pretended that university isn’t incredibly expensive at £9,250 a year (or more if you’re an international student)?

Not seeing the total balance doesn’t mean that the person isn’t in a huge amount of debt.
Last edited by RedGiant; 6 months ago
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username1799249
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I think calling it a loan is misleading. It is nothing like a loan and much more like a tax. Personally I think all students should incur the student tax on the same terms.
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Fullofsurprises
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(Original post by RedGiant)
How is having an option to repay some/all of your loan early “psychological pressure”? What about the wealthy that would rather pay some/all of it off early?

Would you rather students just pretended that university isn’t incredibly expensive at £9,250 a year (or more if you’re an international student)?

Not seeing the total balance doesn’t mean that the person isn’t in a huge amount of debt.
Well because it's neglecting to point out that in reality there is zero pressure to repay it early and plenty of solid reasons to leave it to the state to collect it when you do earn enough. It's a bit of a con in other words.
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nexttime
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I don't see the problem with this at all. Yes its more of a tax than a loan, but why would you log into the student loans system? To see your debt. What's probably the second most common reason? To pay some of it back.

This guy is literally saying 'make your website less useful please'. A complete non-issue.

The bigger issue for me is, if so little of these loans will be repaid, is it even worth the administration costs of running a loans system any more?
Last edited by nexttime; 5 months ago
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DiddyDec
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If students aren't intelligent enough to understand the terms of their loan then the loan was utterly wasted on them.
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