Reply to: Apocalypse

[Platypus]

He got run over by a tank.

That solved his student loan problem anyway.

[Moscow Mule]

Student debt is a fallacy.

Is it? How long ago did you leave uni?

I had approx £9k when I left.

My brother who will embark on a degree next year can expect to have to pay that in fees alone.

Most people won't clear their student debt before they hit 30 - making the pool of potential first-time buyers much smaller (but that's another story).

[Ardesco]

Student debt is a fallacy. I left uni with £8k in student loans, taken out of wages etc so not a bad debt to have.

If I can do it on that then most people should be able to. Wait...be a student and get a job....shock horror. I managed to pick up a 2:1, work, be busy with 2 student clubs (president of 1) and spend maybe 2 weekends a month away training with the TA.

The problem is not so much the debt owed, it is the mindset it generates. Students are basically being told that £30,000 debt is something that is perfectly acceptable to have. With this mindset is it any wonder they then go out and blow another £20,000 on credit cards...

[AlfredJPruffock]

MILLIONS of families were praying for a cut in interest rates today amid growing concern about turmoil in the property market.


Ye cannot serve both God and Mammon ...

Shoorly shum mishtake ?

[Sockpuppet]

Sockpuppet is already overflowing.

With wisdom

[VectraMan]

“In this climate, property investors and homeowners need some financial respite.” A quarter-point cut could knock £30 a month off a £200,000 repayment mortgage.

If £30 per month is all that's keeping you above the poverty line, maybe it's time to give up the investment.

[PAH]

Student debt is a fallacy. I left uni with £8k in student loans, taken out of wages etc so not a bad debt to have.

If I can do it on that then most people should be able to. Wait...be a student and get a job....shock horror. I managed to pick up a 2:1, work, be busy with 2 student clubs (president of 1) and spend maybe 2 weekends a month away training with the TA.

Depends if they are on a course where there are plenty of good jobs available afterwards. I think those doing a degree in David Beckham may be a tad screwed.

http://news.bbc.co.uk/1/hi/education/694451.stm

Even with a good job, paying off 30 grand will take many many years. The programme was showing that it gives youngsters a mindset that lifelong debt is good, which may have been true if it was just the mortgage, but champagne lifestyles are a step off the cliff.

That reminds me, wasn't Lemmings a cracking video game.

[Pondlife]

Sockpuppet is already overflowing.

ewww

[PAH]

Makes a change from donating it to his sock like usual.

Sockpuppet is already overflowing.

[Pondlife]

Makes a change from donating it to his sock like usual.

[Sockpuppet]

It had some quite valid points though, such as the changes to higher education funding, where the students are way in debt before they even finish the course. Glad they still had some level of student grants (which barely covered my accommodation expenses but better than nowt) when I was there. It was bad enough trying to pay off the couple of grand student loan I had, at something like 1% APR, let alone being lumbered with £30k+ of debt.

Student debt is a fallacy. I left uni with £8k in student loans, taken out of wages etc so not a bad debt to have.

If I can do it on that then most people should be able to. Wait...be a student and get a job....shock horror. I managed to pick up a 2:1, work, be busy with 2 student clubs (president of 1) and spend maybe 2 weekends a month away training with the TA.

[VectraMan]

Fortunately I can spot a gold-digger a mile off. All they get from me is maybe 10cc.

70's AOR band?

[Bod]

Fortunately I can spot a gold-digger a mile off. All they get from me is maybe 10cc.

Both Barrels ? generous indeed

[PAH]

I think the article is cashing in on the gloom generated by last night's Recession x3 programme.

Muppets borrowing to fund their lifestyle that they can't ever hope to pay off, all because they subscribe to the Heat mentality of celebrity wannabes.

It had some quite valid points though, such as the changes to higher education funding, where the students are way in debt before they even finish the course. Glad they still had some level of student grants (which barely covered my accommodation expenses but better than nowt) when I was there. It was bad enough trying to pay off the couple of grand student loan I had, at something like 1% APR, let alone being lumbered with £30k+ of debt.

I think the skank who was a 'model' and outspending her income by £1700 a month (if I heard it right) just typifies the attitude that's got so many people in so much debt. Also typical is how she got her then boyfriend to pay for loads of gear on his credit card, ditched him, and now he's having to pay it back, and she was laughing about it too. What a mug.

Fortunately I can spot a gold-digger a mile off. All they get from me is maybe 10cc.

[51st State]

Does it?

Personally I think rates should rise and I am looking at getting a mortgage in the next month or so. Cheap money will just make the bubble bigger and it can't go on for ever. Lots of pain now or monumental amounts of pain in a few years.

I agree. Too many peasants have pawned their future to live the dream of fast cars and big houses. I've got a mate (married with kids) who bought himself a sports car out of a re-mortgage on his house - and is now skint 'cos of the recent rate rises.

Trouble is, if he sells the car now, he's still gonna be making payments on the bulk of it for the next 25 years.

Tought t1tty I say.