Government stuffing young people again, student loans

[Binjob118]

Great day to bury the news that from next year student loans will be repayed over 40 years instead of 30. This makes a massive difference. Hate this government and Tony bloody Blair for stopping free tuition. Of course, won't affect all the rich kids who never take out the loan. This on top of impossibility of young people ever being able to buy a home makes me want to scream. Totally screwed. Certainly don't think IABU!!

But who should pay for uni then? It's pretty unfair that Joe Taxpayer has to pay for the education of graduates who will either go on to massively out-earn him, OR who will piss about for 3 years, get a pointless degree from somewhere shite, and then still end up doing some non-graduate-level role that doesn't enrich society.

We don't need more graduates - we need fewer, and for only the brightest to go to university (and for the less bright - they can jolly well pay for it themselves, not the taxpayer).

So why pay for any education? The country benefits from having an educated population. Every doctor or dentist or nurse who treats you has a degree as one small example. I agree there should be some restrictions on degrees and numbers, but most western countries still have free university tuition.

Calm down Boris @Crimesean

Can they not overpay like you can with a mortgage?

@Georgeskitchen

Can they not overpay like you can with a mortgage?

Yes you can, but interest levels are so high you have to be paying a very high amount to actually chip away at the debt.

I’m not sure what part of housing crisis, energy crisis, rising cost of living, makes you think young people will be able to afford to overpay their loan?

And I doubt many will be able to get a mortgage to overpay either

I’m not sure this is really going to make much difference. It’s still just the vast majority of your working life, including the younger years where you’re trying to get a mortgage etc.

I also agree that far too many people go to university though.

If students do go on to earn more they will pay more in taxes anyways so it's a double tax, to give the country skilled people

Couldn't get stressed about this to be honest op

As said above by many it will be possible to over pay I'm sure.

Unfortunately it seems the way things are going for everyone right now.

Us mid earning working class families are being shafted on a daily basis with national insurance,council tax,rents,interest rates,fuel and many other things so if and when any of my dc want to go to uni they will have to pay it off won't they

It looks as if the polling data shows they have lost the young vote so they no longer care. They need cash to minimise tax increases, pension cuts, to "Level Up" ( aka shore up marginals by splashing the cash on a couple of pet projects that creates a high vis photo op)and off set against PPE contract losses

Guess which country has the highest tuition fees in the world too.

www.google.com/amp/s/www.statista.com/chart/amp/11058/bachelor-tuition-fees-international-comparison/

They've tripled under this government and got rid of grants for low income families. As if it's not already hard enough for young people with how much less affordable houses are. The anti young people party

well university is not free in the usa, or canada. what western nations offer free? aussie, new zealand?

I thought it a good idea and that the interest will come down. Also, not qualifying for a loan if you fail English and Maths GCSE or get E's in your A levels.
Hopefully it will put a stop to ridiculous degrees that benefit nobody but the money grabbing university's that run them.

I work with students, and the vast majority of the ones I support will never earn enough to repay whether the threshold is 25K or 27K. I'm a graduate from 25 years ago and will be very unlikely to ever repay mine. I can't get massively worked up about this, I honestly can't see it making a big difference to my students.

The thing that will affect my students is the requirement to have passed maths and english. I have a lot of students on Access courses who are doing GCSE maths alongside a level 3 access course, and applying for uni, and it's going to really affect them if they then don't pass their maths and have to defer uni for another year.

Oh and young people were dragged out of the single market against their will by this party too. Shafted at every turn

I can't see this will make any difference - if you haven't paid it back over 30 years then you very unlikely to suddenly see a massive increase in income.

I mean it doesn't get written off in the USA? The Gov (and thus the taxpayer) loses money. I think it is sensible that those who take out student loans HAVE to pay it back.

thanks @Fernhurst for the info.
one issue in canada is the cost of living, our big uni's are spread out and many need to leave home to attend school. it's not the cost of tuition that's a problem but accommodation.

Why an earth shouldn't they pay they chose to do a degree pay for it.

Frankly I think it should be backdated. I know someone who has a degree and MA and will intentionally never work. So nothing to pay back - ever. At least the fees should be collected from estates when people die in the distant future. Plenty of people earn just under the threshold for repayment too.

Sadly if you have near-on 50% of young people going to university, this is what happens. And, as usual, it will be the schmucks in the middle who suffer - the middle earners

I care less about “silly” degrees which are actually vocational; I object to people studying English at a place that until five minutes ago was a HE college. I can’t remember the place but it was in the news that at just such an establishment the students were studying Harry Potter and The Hunger Games. That is a disgrace; it is Year 6 level.

@Fernhurst - European degrees are very different. Italy, for example, has a pyramid structure; if you don’t pass the first year (and many don’t) you’re off the course. No cuddly diddums I can’t manage excuses (and the institution wanting to keep all the fee paying students no matter how crap they are).

I can’t get excited about this, but maybe that’s because I’m one of the ones from the earlier phase who’ll be paying it for a lot longer than 30 years anyway and starting at a lower salary.

Millions of people will never pay back their student loans. That won’t change whether the term is 30 or 40 years or even more. The whole system is screwed.

@ShinyMe

I work with students, and the vast majority of the ones I support will never earn enough to repay whether the threshold is 25K or 27K. I'm a graduate from 25 years ago and will be very unlikely to ever repay mine. I can't get massively worked up about this, I honestly can't see it making a big difference to my students.

The thing that will affect my students is the requirement to have passed maths and english. I have a lot of students on Access courses who are doing GCSE maths alongside a level 3 access course, and applying for uni, and it's going to really affect them if they then don't pass their maths and have to defer uni for another year.

I think you’re missing the point here.

If students aren’t academic enough to pass maths GCSE at a first sit, then they’re just not university material.

If they want to fund it themselves, I’ve no issue with that, but the country can’t go on subsidising this.

We need to invest in, and heavily promote vocational courses for non-academic young people.

The difference in tuition fees is astonishing really.
Sweden $0
Germany $148
France $233
US $9,212
England $12,330

If people earn under the threshold, has the education gone to waste?

I think we can either have the old system of free tuition, but university limited to the academic high-acheivers, OR university open to almost anyone regardless of ability but with loans. It's alright wishing for the free system of old but the proportion of the population going to university then was much, much smaller. Today is a very different situation.

I don't think we can afford free tuition en masse.