'I'm 22, I don't gamble and I'm not a frivolous shopper - but I'm already £53,000 in debt' | Vital Football

'I'm 22, I don't gamble and I'm not a frivolous shopper - but I'm already £53,000 in debt'

mike_field

mike_field

Vital Football Legend
https://www.mirror.co.uk/news/uk-news/im-22-dont-gamble-im-12554702

"Martin also recommends in an article that if I, or any other students in my position, come into money and have some spare we shouldn’t pay it off because it probably won’t affect how much I pay monthly. The debt won’t even go on my credit report, so unless anything changes I don’t need to worry. And, like 83% of other graduates with English student loans, I probably won’t clear the debt anyway."

What you whining about then?
 
I'm against tuition fees for universities. I think having a better educated society is better for everyone.

Still, the system is what it is and she took those loans. She could have worked weekends and saved up the £9k per year if she was smart enough.

I don't know what fresh graduates earn in the UK these days but if you study for a masters and can't make £25k per year after graduating, you probably studied the wrong thing.
 
I do actually agree in many senses BB, however, with so many pointless (in my eyes) degrees I'm against the 9K, but wouldn't be against a 4/5k contribution - it's their future afterall. It should also be tiered to specific degrees for specific jobs rather than living the education lifestyle because Uni is a blast and work sucks.

What I can't abide it all the BS that went with the Uni fees spouted by folks who clearly didn't understand the system at the core - ie the throwback report above - and all the self sacrificing wibbling that went with it.

If it doesn't work you barely pay it back so everyone else picks up the fee yet you got pissed everynight and loved it until exams rolled around, and if it works and you get a far better paid job, bubbles you're better off and you pay some of it off.

It's win win.
 
University used to be for the elite. Now anyone can go. They changed all the Polytechnics to Universities, and lowered the standards so much it means nothing now.

It's more about keeping numbers off the unemployed lists, and making money for the Universities than good education. There are nearly 14,000 studying at Sussex now. There were 3,500 when I was there.

As an employer, I didn't consider a graduate any better than other applicants. That is not unusual now, so earning £25k may not be that easy.
 
Our eldest son will have paid his back in his working life. He started paying it back not long after he had graduated because of what he earns which has gone up over the years.

He worked through uni too. He's a software developer. He's on about £40 k a year now

Our DiL his wife didn't use her degree and went into hospitality. She won't pay hers back though
 
Knowing I'm drinking I wasn't going to get into stupid degrees meaning they stay off the unemployed list line!
 
kefkat said:
Our eldest son will have paid his back in his working life. He started paying it back not long after he had graduated because of what he earns which has gone up over the years.

He worked through uni too. He's a software developer. He's on about £40 k a year now

Our DiL his wife didn't use her degree and went into hospitality. She won't pay hers back though
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There's still a cap though unless he goes up from 40K to my understanding. But he took a course that counted, got the job, gets the reward and happily contributes.

The flipside is the second example and everyone else picks that up. It's about balance and sense.

I can't shake the 'I have to pay to get a better wage and an advantage, and I'm still going to whinge wasting that money even though I don't have to pay it back' brigade.
 
And no one explained to her before she went the cost of studying? And someone forced her to do a postgraduate degree and wrack up more costs?

It shouldn't be called a loan, as Martin Lewis says.

And it damn well shouldn't be charged at anything near that
 
Agree, stories like this do the fight for a fairer deal more harm than good.

Loan gives the wrong overview given the actual payment required in cases and the fact it's not a logable debt that hangs around your neck.

Wonder how many years now it'll be before we get stories of the broken promise Liberal generation having that debt behind them, having not taken useful courses, and now having to pay themselves to re-attend education to re-train/qualify.
 
mike_field said:
There's still a cap though unless he goes up from 40K to my understanding. But he took a course that counted, got the job, gets the reward and happily contributes.

The flipside is the second example and everyone else picks that up. It's about balance and sense.

I can't shake the 'I have to pay to get a better wage and an advantage, and I'm still going to whinge wasting that money even though I don't have to pay it back' brigade.
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I Agree Mike. I love my DiL to bits and I am glad she did the uni route else she eouldn't have met our eldest. It is a waste. I am not too sure why she went on it TBH.

Eldest will end up on more than £40 K at some stage in the next couple of years. He worked his backside off to get where he has and deserves it
 
Some will benefit, some won't...it's about the balance. The fee charged is ridiculous but that doesn't mean there shouldn't be a contribution to their own self enhancement - given how the contribution is weighted in their favour and not the taxpayer. Stories like the above muddy that argument though, I'd be more in favour of 5% of a wage goes to student 'debt' from the get go but in making that change the student is only ever charged the principle sum and there's no interest full stop. For admin purposes, each year a debt remains there's a maintenance charge of say £25 + inflation to cover that backstop.
 
kefkat said:
I Agree Mike. I love my DiL to bits and I am glad she did the uni route else she eouldn't have met our eldest. It is a waste. I am not too sure why she went on it TBH.

Eldest will end up on more than £40 K at some stage in the next couple of years. He worked his backside off to get where he has and deserves it
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She went on it because that means she never had to go get a job.

I remember my daughter after leaving school with average results what she was going to do next "I'm going to do 6th form I think"
I said "Think again" she had just finished 11 years at school and come out with fuck all another year or two would not make a difference.

She went to work in a dental practice and 10 years later she was practice manager for 3 dental surgeries........
 
Still made something of herself Col. I went to 6th form because I only knew education as well, I didn't go to Uni as I wanted money instead.
 
col8 said:
She went on it because that means she never had to go get a job.

I remember my daughter after leaving school with average results what she was going to do next "I'm going to do 6th form I think"
I said "Think again" she had just finished 11 years at school and come out with fuck all another year or two would not make a difference.

She went to work in a dental practice and 10 years later she was practice manager for 3 dental surgeries........
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I get where your coming from Col as that is the case for alot. However she did go back to work after uni. First in a factory for a few months as a stop gap.

Then into the job she has now and just gone back too, off maternity leave working at an independent garden centre in the restaurant/tea rooms which she loves.

Her parents are quite wealthy so they did fund alot or her uni. I asked our eldest once why she has gone on the course to whuch he replied "it doesn't make much sense but 2 of her friends were doing the course so she went on it too"

Still seems very bizaire to me why she didn't follow the catering/food route but hey what do I know
 
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