Was ok in 1994 when I took my first degree in Media at John Moores Liverpool. Way too expensive now and coincides with marriage and children in many cases. Altogether a lot of headache for younger people these days. I know that these debts can be spread out 'but its the thought of being in debt and having no true financial security that leads in many cases to mental health and other issues later in life. The tightrope is getting harder to balance on.
Kind of a non-factor, most are never going to pay it off and so will just wait for it to get written off 30 years (or for those starting now, 40 years) after taking out the loans. During that time you only make repayments when earning over the threshold and the repayments are proportional to your income so it's really just an outgoing on your paycheque that you see each month along with NI contributions, income tax etc. My student loan repayments are less than my NI contributions and tax (and pension!) so it's really the least of my concerns even when thinking about those deductions lol.
Ill owe about 90k all together (doing a second degree) and honestly it doesnt cross my mind.
I was working full time in retail and have paid of a whole £1 in 10 years...
After i graduate from this degree ill hopefully be earning twice as much, so will pay it off but its only a small percentage really so ill never pay it off.
I was working full time in retail and have paid of a whole £1 in 10 years...
After i graduate from this degree ill hopefully be earning twice as much, so will pay it off but its only a small percentage really so ill never pay it off.
Original post by artful_lounger
Kind of a non-factor, most are never going to pay it off and so will just wait for it to get written off 30 years (or for those starting now, 40 years) after taking out the loans. During that time you only make repayments when earning over the threshold and the repayments are proportional to your income so it's really just an outgoing on your paycheque that you see each month along with NI contributions, income tax etc. My student loan repayments are less than my NI contributions and tax (and pension!) so it's really the least of my concerns even when thinking about those deductions lol.
Yes everyones circumstances are different
Original post by Kavb54
Is student debt too much
Yes there should be no debt for students
Original post by baycrusher
Yes everyones circumstances are different
Not really my point. Because when I was earning below the threshold, I didn't make repayments at all - but the clock still ticked down closer to it getting written off.
Frankly I think the government bothering to continue with the song and dance of student finance loans is a bit pointless, since in almost all practical senses it's a graduate tax, so they may as well just formally make it one and then fewer students (particularly from those backgrounds with less knowledge of HE like those who would be the first in their family to go to uni) would be put off by the (misplaced) fear of student "debt".
As above, it’s an inconsequential tax on my payslip that barely covers the annual interest. I don’t worry about it as it’ll be written off when I retire.
Original post by artful_lounger
Not really my point. Because when I was earning below the threshold, I didn't make repayments at all - but the clock still ticked down closer to it getting written off.
Frankly I think the government bothering to continue with the song and dance of student finance loans is a bit pointless, since in almost all practical senses it's a graduate tax, so they may as well just formally make it one and then fewer students (particularly from those backgrounds with less knowledge of HE like those who would be the first in their family to go to uni) would be put off by the (misplaced) fear of student "debt".
Frankly I think the government bothering to continue with the song and dance of student finance loans is a bit pointless, since in almost all practical senses it's a graduate tax, so they may as well just formally make it one and then fewer students (particularly from those backgrounds with less knowledge of HE like those who would be the first in their family to go to uni) would be put off by the (misplaced) fear of student "debt".
there are other options to University depending on what you want from your education. practical on the job training with some college is good. Your working so no debts.
Original post by Kavb54
Is student debt too much
nah just get a job
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