Has anybody managed to fully pay back their student loan?

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JVM2020
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Just curious

Over 6 years since graduating and still myself to pay all back

Has anyone who graduated so many years ago managed or did everyone's get written off?
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londonmyst
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I know a few people who have managed it and some whose partners paid off the total student loans and interest for them.
I haven't started making repayments on my undergrad or first postgrad loans.
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ecolier
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(Original post by JVM2020)
Just curious

Over 6 years since graduating and still myself to pay all back

Has anyone who graduated so many years ago managed or did everyone's get written off?
I did, but I am old enough that my tuition fee was £1125... (the last year that it was that level).
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sabana
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I graduated 7 yrs ago still haven't paid it back. Only in one of my jobs I earned over the threshold and even then I was only paying back £5 a month.
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londonmyst
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(Original post by ecolier)
I did, but I am old enough that my tuition fee was £1125... (the last year that it was that level).
You lucky puppy. :cool:
My tail won't start wagging again until I've forgotten you post. :huff:
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ecolier
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(Original post by londonmyst)
You lucky puppy. :cool:
My tail won't start wagging again until I've forgotten you post. :huff:
Being old isn't lucky :cry:
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Admit-One
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Over two decades since graduating and repayments barely balance out the interest. Roll on retirement.
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NonIndigenous
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What I gather from this thread so far... is that our tuition is essentially free for a lot of people.

Except for those degrees that actually pay well afterwards. Those you have to pay for yourself, once you earn over the threshold.

Which is no wonder more people go for mickey-mouse degrees that pay **** afterwards, because our system encourages them to.

Does anybody else see a problem with this?
Last edited by NonIndigenous; 1 week ago
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londonmyst
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(Original post by ecolier)
Being old isn't lucky :cry:
I disagree, it's very barking lucky.
I've just finished calculating my age in dog years.
I'm 26 in human years (over 180 in dog years).
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ecolier
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(Original post by londonmyst)
I disagree, it's very barking lucky.
I've just finished calculating my age in dog years.
I'm 26 in human years (over 180 in dog years).
Let's just say I would be happy to be your age, and have your debt.

I am over 240 in dog years :rofl:
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londonmyst
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(Original post by NonIndigenous)
What I gather from this thread so far... is that our tuition is essentially free for a lot of people.

Except for those degrees that actually pay well afterwards. Those you have to pay for.

Which is no wonder more people go for mickey-mouse degrees, because our system encourages them to.

Does anybody else see a problem with this?
I see a few of the problems.
The student finance loan system is economically unsustainable- with eye watering levels of taxpayer funded write offs and annual admin costs.

The vast majority of taxpayer funded student loans will never be fully repaid, even without including 1p in interest.
Plus many degrees are worse than useless as regards gaining access to useful skills, paid employment or entrance to professional networks.
With many English unis & partnering higher educational establishments notorious for mass offering places on undergrad courses to almost everyone who applies regardless of applicant's ability/criminal record/past grades/language competence/reference/, awarding degrees that include less than 5 hours a week total teaching including assessed assignments

The higher education system needs to change to a more viable funding model.
One that involves a lot fewer recognised English educational institutions approved to enrol undergrad degree students.
Financially changing to a more sustainable system through closer links with industry, small businesses, social enterprises and larger charities.
To facilitate increased corporate sponsorship for fees and worker access to alternative specialist training & qualifications.
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sabana
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(Original post by NonIndigenous)
What I gather from this thread so far... is that our tuition is essentially free for a lot of people.

Except for those degrees that actually pay well afterwards. Those you have to pay for yourself, once you earn over the threshold.

Which is no wonder more people go for mickey-mouse degrees that pay shyt afterwards, because our system encourages them to.

Does anybody else see a problem with this?
Not necessarily. Ppl can study purely for enjoyment. Also many ppl get established in their careers later on in life, like in their 30s or 40s which is when they begin to pay back the debt.

Sometimes it takes a while to find what your true passions are. Also a lot of grad jobs accept any degree (including art/music) eg graduate schemes in accounting firms, this tends to be well paid with a couple of yrs experience.
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londonmyst
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(Original post by ecolier)
Let's just say I would be happy to be your age, and have your debt.

I am over 240 in dog years :rofl:
Are you planning a big birthday party to celebrate 250 canine years?
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NonIndigenous
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(Original post by sabana)
Not necessarily. Ppl can study purely for enjoyment. Also many ppl get established in their careers later on in life, like in their 30s or 40s which is when they begin to pay back the debt.

Sometimes it takes a while to find what your true passions are. Also a lot of grad jobs accept any degree (including art/music) eg graduate schemes in accounting firms, this tends to be well paid with a couple of yrs experience.
It is is acceptable to study "purely for enjoyment", but almost entirely at someone else's expense?

A lot of so called "grad jobs" also accept no degree. The only main reason employers opt for people with degrees is because there is an overabundance of these people. I happen to know someone who landed a £40k/year consultant role in the tech industry, with no degree. Just good work experience & work ethic.

None of the reasons you give justify receiving up to £10 000 a year for 3-4 years, which is often never repaid. In those 3-4 years, they could have gotten a job, some useful experience, and be just as qualified if not even more qualified to do the same jobs. And of course, they'd have no debt then either.

People opt for 3-4 years of loan-funded uni tuition, just because it is convenient and easy. Not because it's the right thing, or because it is good for them, or good use of their time. It's just easy.
Last edited by NonIndigenous; 1 week ago
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ecolier
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(Original post by londonmyst)
Are you planning a big birthday party to celebrate 250 canine years?
:no: :nah: :nope:
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Tracey_W
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(Original post by JVM2020)
Just curious

Over 6 years since graduating and still myself to pay all back

Has anyone who graduated so many years ago managed or did everyone's get written off?
None
As never took any loans out while studying my degree at university as had big enough NHS bursary plus worked part time throughout.
Saves the hassles of being in debt for many many years.
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londonmyst
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(Original post by ecolier)
:no: :nah: :nope:
Do change your mind puppy paws- TSR needs the excitement of the party! :cake::party2::woo:
Surely you are not going to keep everyone waiting for your 1000th birthday. :cry2:
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ecolier
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(Original post by londonmyst)
Do change your mind puppy paws- TSR needs the excitement of the party! :cake::party2::woo:
Surely you are not going to keep everyone waiting for your 1000th birthday. :cry2:
:rofl3: 1000th birthday!
Last edited by ecolier; 1 week ago
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