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    (Original post by hey guysch im kl)
    If you want to stay in the area indefinitely, getting a large a mortgage as possible would be the best idea, as houses historically have shown to gain a lot of value in percentage terms
    How much would you need to be on for a 300k mortgage?

    How long would it take someone to reach that earning level of say the 75th percentile gradate or even 85th percentile?
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    (Original post by Quady)
    How much would you need to be on for a 300k mortgage?

    How long would it take someone to reach that earning level say 75th percentile gradates or even 85th percentile?
    what a stupid question, obviously it matters only really on the risk appetitite of mortgage lenders and their clients/ customers. In 2006, you would need very little money. Now you would need a lot. In 10 years, who knows
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    (Original post by hey guysch im kl)
    what a stupid question, obviously it matters only really on the risk appetitite of mortgage lenders and their clients/ customers. In 2006, you would need very little money. Now you would need a lot. In 10 years, who knows
    Well take 2006 for example, would a 6x earning multiple be too low? That would be 50k/year...
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    I'm still worried...
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    (Original post by EierVonSatan)
    I'm in £14,000 debt, but my postgraduate funding is enough to pay it off, so I'll leave university in the black :yep:
    My debt is about the same but I cant decide if I should pay it off while doing the PhD or not. Why did you decide to pay yours and how much funding do you get? I'm going to be on 20k a year...
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    (Original post by EierVonSatan)
    I haven't payed it off yet, and not intending to for some time. I'm on a standard EPSRC stipend of 13k pa.

    20k is a very large stipend :lolwut:
    Ok i'm thinking i'll just leave it till I finish the PhD, ive been broke for so long i'm just looking forward to having money!

    Yea, its no indication of my intelligence or usefullness tbh, I was just in the right place at the right time.
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    (Original post by TheQueenOfComputerScience)
    Ok i'm thinking i'll just leave it till I finish the PhD, ive been broke for so long i'm just looking forward to having money!

    Yea, its no indication of my intelligence or usefullness tbh, I was just in the right place at the right time.
    Sounds like all that screening for the right applicantwas worth it


    (Original post by graffic)
    OP: Yes I am panicking but I think it is worth it. I will hopefully go to UCL which means the degree will be worth some credibility.

    In general the whole system stinks. It benefits people born to wealthy parents which helps to propagate raging in-equalities in what is already a grotesquely un-equal society.

    Thanks to New Labour I and many other students will be facing a horrific mountain of debt after finishing an education. A huge price to pay for what most people with their head screwed on would regard as a basic human necessity - the right to education. This problem could easily be solved by say, you know, taxing the rich. No wait NOT taxing the rich. That is stupid. DO NOT try to tax the rich. Not now. Not ever. ******* *****
    My family are by no means rich or wealthy, but you can't blame the system for benefiting the rich/wealthy. Actually I see no way in which the system actually benefits the rich/wealthy.
    Also I definetly don't see the whole education thing as a right, upto a certain level of course; you have the right to standard education but you have the privilege of higher education. After all it's not like you can't pay this money back if you work hard in Uni, is it?

    Also taxing the rich heavily would be pointless, the super rich get taxed 50% of anything over £150,000. That is a huge percentage.

    I do sympathise with you on people who just don't deserve ridiculous amounts of money.
    [/rant]

    OP: I haven't started Uni yet, hell I don't even know if I'm going next year, but I've calculated that if I work part time all three years and full time in the holidays I could be looking at £10,000 debt, which isn't bad. More realistically it'll be about £14,000 - £20,000
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    I'll say the same thing I said to my brother when he first started Uni - compare it to a mortgage.

    There - looks a bit silly now, doesn't it?:p:
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    (Original post by Zorg)
    Sounds like all that screening for the right applicantwas worth it




    My family are by no means rich or wealthy, but you can't blame the system for benefiting the rich/wealthy. Actually I see no way in which the system actually benefits the rich/wealthy.
    Also I definetly don't see the whole education thing as a right, upto a certain level of course; you have the right to standard education but you have the privilege of higher education. After all it's not like you can't pay this money back if you work hard in Uni, is it?

    Also taxing the rich heavily would be pointless, the super rich get taxed 50% of anything over £150,000. That is a huge percentage.

    I do sympathise with you on people who just don't deserve ridiculous amounts of money.
    [/rant]

    OP: I haven't started Uni yet, hell I don't even know if I'm going next year, but I've calculated that if I work part time all three years and full time in the holidays I could be looking at £10,000 debt, which isn't bad. More realistically it'll be about £14,000 - £20,000
    Considering the tax rate used to be around 80%+ for the highest earners, 50% really isn't too bad.
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    (Original post by Jormungandr)
    Considering the tax rate used to be around 80%+ for the highest earners, 50% really isn't too bad.
    Seeing as though earnings just over the personal allowance used to be taxed at 24%, 20% isn't that bad. It doesn't mean its good.
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    (Original post by She_said)
    I know I should be worried but I really don't care that I'm about 23k debt. It's all good.
    lol, your sig
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    (Original post by Quady)
    Seeing as though earnings just over the personal allowance used to be taxed at 24%, 20% isn't that bad. It doesn't mean its good.
    No, it doesn't mean it's good. Then again, the whole matter of taxing the rich is pointless until there's some kind of world government to stop them simply running away to another country.
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    Slightly concerned yes! My parents are going to help me out with paying off my tuition fees but I'll still have a large debt for years to come.
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    (Original post by Jormungandr)
    No, it doesn't mean it's good. Then again, the whole matter of taxing the rich is pointless until there's some kind of world government to stop them simply running away to another country.
    You make it sound like persecution :P
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    Don't think of it as debt; isn't university really an investment? As that investment is bound to pay off, it's a win win situation. All you have to do is put yourself in some debt, and pay it off with the extra income you receive in the next ten years. Then you'll still be earning more, and you'll be comparitatively better off than someone without a degree. At least that's what happens on average :P
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    (Original post by Erechtheus)
    and pay it off with the extra income you receive in the next ten years.
    Under what scenario would it be paid off in 10 years?
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    Hmmmm, £20k debt. Average salary over ten years of £23k. Pay back 9% of your income and voila!
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    (Original post by Erechtheus)
    Hmmmm, £20k debt. Average salary over ten years of £23k. Pay back 9% of your income and voila!
    That would pay off 7,200 of the debt...

    Or did you mean 9% of all income not just 9% of earnings over 15k?

    If so inflation will be more than 700 quid...
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    9% of all income; it's a little harsh I know :-(.

    As for inflation I like to assume the salary will increase to compensate, and the loan interest is thereafter covered by that £700
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    (Original post by Erechtheus)
    9% of all income; it's a little harsh I know :-(.

    As for inflation I like to assume the salary will increase to compensate, and the loan interest is thereafter covered by that £700
    Any reason why 9% of all income rather than 10% or 8%?
 
 
 
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