This just in: George Osborne really doesn't like young people

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Originally Posted by Kardan

Ah, so my maths is all wrong - that means it's even harder for people to pay it all off. That means in order to pay off the £51,600+ loan in 25 years, you need to be earning just over £21,000 OVER the threshold per year - so you need a £42,000 average salary over 25 years to get close to paying it off? That's ridiculous!

Plus, it's not only 'still giving the money away', under this system the government are giving MORE money away. At the moment the max maintenance grant + loan you can get is less than £8,200 - under the new system, the government will be giving more money away initially.

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It is ridiculous, but it gets written off so I don't see the issue at the end of the day.

Do you have a source for how much is given away? This could preemptively be taking inflation into account. Are you also arguing that giving more away on perhaps the fairest loan you will ever receive, giving people who need greater financial the choice to take more out, a bad thing? I really don't understand why people are opposed to student loans when they are honestly such good deals. Yes, it's not free but there needs to be some adjustments to be made with a lot of things if we want to maintain our way of life and this is perhaps the best possible middle ground.

To clarify, if this was a more standard loan which will haunt you for the rest of your life and **** your credit rating, I would be 100% against this.

Oh no more loans that I will never notice and will only have to start paying back once I can afford to... who cares. This is nothing to do with targeting people from poorer backgrounds as debt is debt no matter what your dad does, and the only people who have are rich enough to pay for everything outright don't get the help from loans and (thus far) grants anyway. No-one in this country is being stopped from getting an education because they're poor

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Originally Posted by dbgtz

It is ridiculous, but it gets written off so I don't see the issue at the end of the day.

Do you have a source for how much is given away? This could preemptively be taking inflation into account. Are you also arguing that giving more away on perhaps the fairest loan you will ever receive, giving people who need greater financial the choice to take more out, a bad thing? I really don't understand why people are opposed to student loans when they are honestly such good deals. Yes, it's not free but there needs to be some adjustments to be made with a lot of things if we want to maintain our way of life and this is perhaps the best possible middle ground.

To clarify, if this was a more standard loan which will haunt you for the rest of your life and **** your credit rating, I would be 100% against this.

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The issue is that currently the government are giving up to ~£7,000 of which £3,300 is free and the other £3,700 is a loan to students but in order to try and SAVE MONEY they will now be giving up to £8,200 as a loan.

The government are giving more money away and yet they're saying we'll be saving money. I'm not opposed to student loans, as I said, I had and needed one - what I'm opposed to is the government making changes when they're blatantly lying about what it's doing. The fact is, they are giving more money out - that's not going to help anyone.

Will help the students - I know that an extra 1200 a year (regardless of the fact that it would have to be given back eventually) would do wonders for my mind

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Originally Posted by Kardan

The issue is that currently the government are giving up to ~£7,000 of which £3,300 is free and the other £3,700 is a loan to students but in order to try and SAVE MONEY they will now be giving up to £8,200 as a loan.

The government are giving more money away and yet they're saying we'll be saving money. I'm not opposed to student loans, as I said, I had and needed one - what I'm opposed to is the government making changes when they're blatantly lying about what it's doing. The fact is, they are giving more money out - that's not going to help anyone.

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Doing the calculator, I got £7434. I'm going to take a while guess and say this is introduced in 2017 like a lot of other things they proposed, so some increase isn't exactly unexpected. Is that £8200 for inside or outside London?

https://www.gov.uk/student-finance/loans-and-grants

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Originally Posted by dbgtz

Doing the calculator, I got £7434. I'm going to take a while guess and say this is introduced in 2017 like a lot of other things they proposed, so some increase isn't exactly unexpected. Is that £8200 for inside or outside London?

https://www.gov.uk/student-finance/loans-and-grants

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£8200 outside London and that is only for people who are under the £25,000 a year pay bracket for their household income. Anything above that get nothing and seeing as, if I were to be staying in halls, I would need at least half the grant AND my loan to pay off the rent, I can't imagine what it'll be like for people when the time comes for it to be changed.

It's ridiculous, the loan/grant system is a very floored system and I really don't believe they're going to save as much as they estimate they're going to

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Originally Posted by Circadia

£8200 outside London and that is only for people who are under the £25,000 a year pay bracket for their household income. Anything above that get nothing and seeing as, if I were to be staying in halls, I would need at least half the grant AND my loan to pay off the rent, I can't imagine what it'll be like for people when the time comes for it to be changed.

It's ridiculous, the loan/grant system is a very flawed system and I really don't believe they're going to save as much as they estimate they're going to

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No loan for people over £25k what? lmao that can't be right surely?

8200 will be the maximum

u can still get loan but if ur parents earn more u get less just like it is now! (which i think is unfair still)

It's not as harsh as it could be but certainly a concern. Even though the loans are not as harsh as people make them out to be, many do get put off by the prospect of paying a lot once they leave which isn't fair and actually misleading - by the Government and the media.

All I think of when the education system is given a beating is that quote which goes roughly "The best way to control the people is by making them stupid". Or something more philosophical and wordy. It certainly is the case here, seeing as we are pretty stupid in this country and are very anti-establishment and seem to believe anything the media tells us.

Definitely too many people seeing "cuts to benefits" and raging without looking into it, same with "new loans". WE'LL BE IN DEBT!!!!! Yeah so you won't ever notice it and it's an investment in your future *+*+*+*