Best way to pay off student loans?

[d000hg]

sort of the point, if it had been in maths she would have a job probably.

Not if she failed because she can't do maths.

[d000hg]

Timely:

https://www.bbc.co.uk/news/education-61088025

Students and graduates in England will pay up to 12% interest on their loans this autumn, according to the Institute for Fiscal Studies (IFS).

The rate will dip in March 2023, when a cap on the interest will kick in.

[Whorty]

I don't set any rules. And they could of course not go to university.

I do pay a graduate tax anyway. Anyone who earns more off the back of a university education does. It's called income tax... if you earn more you pay more. What's fairer than that

Isn't that the argument we use to say those that are paying now, and in debt, should pay for their fees as a loan because they benefit. So, using your logic, aren't today's students paying double ... once with the loan/interest and again with income tax?

Or does their extra income tax not count the same way yours does?

[Whorty]

To be fair, makes zero difference to me this current set up. I'm no worse off as no kids and no debt. I'm actually arguing that the likes of me, my generation, should pay more as we had a free education but we (the collective we) are setting the rules for current and future students but conveniently forgetting that we benefited.

d000hg how old are you? Just wondering exactly how badly you was hit by the changes in the student set up. I thought you was my age group so feels like your SL would be maintenance only and no fees, but I could be wrong.

[d000hg]

Isn't that the argument we use to say those that are paying now, and in debt, should pay for their fees as a loan because they benefit. So, using your logic, aren't today's students paying double ... once with the loan/interest and again with income tax?

Or does their extra income tax not count the same way yours does?

It was a bit tongue in cheek TBH. I don't think the idea of low-cost loans is a bad one especially when linked to PAYE. What I strongly dislike are student loans that are making someone a profit.

Is university education something the state should fund, like school education and healthcare? I don't particularly want my taxes to go up to pay for people wasting 3 years of their life. We're obviously a bit of a student hub here in Durham and it's amazing how things have changed - rather than 4 people sharing a house and paying £50p/w each, they are renting specialist luxury student accommodation (cinemas, gyms, etc) at 3X that. Presumably because they just take out the whacking great loan on offer and spend it all. Poor decision making.

[eek]

It was a bit tongue in cheek TBH. I don't think the idea of low-cost loans is a bad one especially when linked to PAYE. What I strongly dislike are student loans that are making someone a profit.

Is university education something the state should fund, like school education and healthcare? I don't particularly want my taxes to go up to pay for people wasting 3 years of their life. We're obviously a bit of a student hub here in Durham and it's amazing how things have changed - rather than 4 people sharing a house and paying £50p/w each, they are renting specialist luxury student accommodation (cinemas, gyms, etc) at 3X that. Presumably because they just take out the whacking great loan on offer and spend it all. Poor decision making.

Love to know where you can rent in Durham for £50p/w each - Eek twin A has friends there and the cheapest (private rent) rooms are well over £100p/w...

[TheDude]

Love to know where you can rent in Durham for £50p/w each - Eek twin A has friends there and the cheapest (private rent) rooms are well over £100p/w...

£100 a week and a lifetime of people knowing you got the knockback from Oxford/Cambridge

[d000hg]

Love to know where you can rent in Durham for £50p/w each - Eek twin A has friends there and the cheapest (private rent) rooms are well over £100p/w...

Well there's inflation but that's partly my point, things haven't doubled or trebled in price since then. I've seen these swanky new places exceeding 200pw. In my head that's London money although this does get you luxury up here not a squalid flat

No wonder they end up in 6 figure debt, they're spending more on rent than they will be able to afford for a decade after graduating. Eating out several times a week, living prime city-centre, what a crash back to earth it's going to be in 3 years.

[d000hg]

£100 a week and a lifetime of people knowing you got the knockback from Oxford/Cambridge

I have met a few people who applied to Durham as 1st choice.

[jainnode]

I have met a few people who applied to Durham as 1st choice.

'COURSE you have