Wigan go into administration | Page 3 | Vital Football

Wigan go into administration

sedgleyimp

Vital Football Hero
#41
It staggered me the other day when I saw that the interest on student loans is 5.4%. Whatever our views on the student loans/funding system. that seems an immorally high rate
Yes. Both my lads as it stands will be in debt to the tune of 60 and 40 grand when they finish their courses ( and the youngest one's is less only because he's stopping at home and going to a local university). I appreciate that they have to attain a certain threshold wage before starting to pay it back but it's a real strain on them before they even start earning properly. And don't get me started on our eldest still having to pay his rent for his room down south even though he's been on lockdown with us since March!! ( private rental unfortunately)
 

NottyImp

Vital Football Legend
#42
Yes. Both my lads as it stands will be in debt to the tune of 60 and 40 grand when they finish their courses ( and the youngest one's is less only because he's stopping at home and going to a local university). I appreciate that they have to attain a certain threshold wage before starting to pay it back but it's a real strain on them before they even start earning properly. And don't get me started on our eldest still having to pay his rent for his room down south even though he's been on lockdown with us since March!! ( private rental unfortunately)
Nothing like a bit if debt to keep the plebs in line ;)
 

Merthyr Imp

Vital 1st Team Regular
#45
A good example of inflation is City's match programme which cost 7p in 1972/73 and which went up to 10p for the 1973/74 season - an approx 42% increase.
 

Barney Imp

Vital Football Hero
#47
Yes. Both my lads as it stands will be in debt to the tune of 60 and 40 grand when they finish their courses ( and the youngest one's is less only because he's stopping at home and going to a local university). I appreciate that they have to attain a certain threshold wage before starting to pay it back but it's a real strain on them before they even start earning properly. And don't get me started on our eldest still having to pay his rent for his room down south even though he's been on lockdown with us since March!! ( private rental unfortunately)
Often, the amount paid back through salary each month is less than the interest charged. This effectively makes it a tax on graduates. And it is best treated as such - never try to pay extra as it will eventually be written off. I believe that it has no effect on mortgage applicatios. Advise your son's accordingly.
 

plumbob

Vital Football Hero
#48
Yes. Both my lads as it stands will be in debt to the tune of 60 and 40 grand when they finish their courses ( and the youngest one's is less only because he's stopping at home and going to a local university). I appreciate that they have to attain a certain threshold wage before starting to pay it back but it's a real strain on them before they even start earning properly. And don't get me started on our eldest still having to pay his rent for his room down south even though he's been on lockdown with us since March!! ( private rental unfortunately)
Seems to me, if you don't break the threshold wage, there was little point in going in the first place.
Genuinely don't think I would have gone to university if the end result was x thousand pounds if debt. It's crazy.
I've always thought we should be encouraging people to study certain things (the things that really make a difference to the world, like medicine). There should be minimal fees for these things. How on earth a prospective doctor should leave on the same footing as a student something like "football culture" makes no sense to me.
 

sedgleyimp

Vital Football Hero
#49
Often, the amount paid back through salary each month is less than the interest charged. This effectively makes it a tax on graduates. And it is best treated as such - never try to pay extra as it will eventually be written off. I believe that it has no effect on mortgage applicatios. Advise your son's accordingly.
Appreciated Barney. Already on top of that but thanks
 

Chesterimp

Vital 1st Team Regular
#56
I think it is safe to say those that play a part in the approving of Football Club ownership in this country need to go through a "fit and proper" test themselves...
And more seriously "fit and proper" test is a joke and too easily circumvented, notably the fait accompli presented by Bury to give control to Dale, that worked out well.
 

New gold dream

Vital Squad Member
#57
The shadiest bit about this is that they’ve just had a takeover.

A points deduction feels a little bit like - our fit and proper persons test has not worked, take a 12 point deduction for our failings
Exactly the fit and proper test is meant to check that the new owners have sufficient funding in place for the remainder of that season of purchase and the complete following season
Yet within a month they’ve declared them as skint
The EFL have had a cracking year of incompetence