Benji (benji) wrote,

Can we get this straight please?


Why? Because every single penny of the tuition fees is covered by student loans for pretty much everyone bar really rich people. If anything it's easier because now the loan is paid to the university directly. Before you had to have the money yourself and get it back which for many was a major block to getting into university.

Now the loans do need to be paid back when you leave education and you earn over £21k a year. The loan is paid back as before at a rate depending on what you are paid. There are no bailiffs if you don't earn enough and can't afford the loans, it just eats a little into your income. Not massively, a little. You also need to pay back the loan if you leave education early. IE if you quit.

The latter two points are the ones which have made uni entrances drop. Because now people think more about going to uni. You know what? SO THEY SHOULD!! It shouldn't be a light choice just because. You go for a good reason! You go because you want to get a degree and you go to better yourself. You do that, good on you.

So with that said, why on earth is everyone complaining? Am I eating stupid pills or something? I feel like I'm going crazy! I just can't see the problem here.
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"You also need to pay back the loan if you leave education early. IE if you quit."

That's not new. If I had quit I would still have to pay back for the time I was there. I'm in ~£25,000 debt. It doesn't affect my life, especially as I'm not earning enough right now to start paying it back, but it IS a lot of money. £9,000 a year means £21,000 debt minimum for a degree. That kind of figure is off-putting to a lot of people. It's the idea of owing that much money, not the reality.
Yeah, sorry, I didn't mean it was new, but it is the downside to the loans. However as I say it's not stopping anyone going to uni, just that it's a step towards making sure those most serious about going to uni, go. While there's still loads who go to uni for a dos, it's made it a bit better. If anything though it's probably made universities themselves go for more decent students and drop some of those mickey mouse degrees, which is definately a good thing!
Student loans will only cover fees for very low income families. Not everyone falls into that category- they are boarderline which means they have to find the majority for themselves and then risk hardship- SLC will not cover living expenses either!
But living costs have always been there. Changing tuition fees hasn't changed that aspect to make it larger.

The current guideines for allowances are woolly and so to get an accurate picture of what is available you need to get a full quote from the slc. However under the previous system full loans were available for risidual household incomes up to £61k and information is a si milar level would be the level set for the full maintenance grant and full fees loan in thenew system, which is a fairly hefty household income. Contributions for those earning over the threshold of full loan have also not changed much at all either, just the loan is bigger.

So again, this rise hasn't made it harder for anyone to get into uni.
Tuition fees have gone from 3k for a year to 9k. That's a hell of a rise. I came froma. Very low income family so managed uni on full loans and hardship grant. It was really hard. I now owe in excess of £30k. If I started now, I'd owe £45k just for tuition. The point is, whether you pay it now or if you pay it when you're waning enough, to a poor person such as myself the prospect of £26k was nearly enough to encourage me not to go. Also, my income isn't vast an I pay nearly £200 a month back. And I miss it. Every month. I agree with what you are saying, however, it's about accessibility and instantly alienating those who are more then bright enough to do it and do it well, but fall into a category who cannot afford to find one child (ESP if they have more then one) to go through uni if they have to pay a percentage of both tuition fees and rent.

And it's only a matter of time before the gov say all those who owe student loads will have to pay more per month. I feel quite strongly about it because it would have put me off. And we nearly fell into the pay a percentage category at a household income of less then £20k.
On the current system you pay 9% on anything you earn over 15 odd thousand. If you're paying 200 a month you must be on approx 41.5k a year putting you well into the higher 40% tax rate which is really not a bad income at all. I suspect you dont earn that much? So you might want to talk to whoever is working out your repayments!

200 / 0.09 = £2222 per month income over the threashold

x12 = £26666 over the threashold, add the original £15k threshold is £41666.

In short that is about £6k more than Stacey and I earn combined. If you are on that, well done you've worked for it. In my opinion though, its worth it for £200 a month repayments. Especially since if you should find yoirself out of work, you wont be chased for payments.
I'm not on that!!!!!!!!!!!
Also, I was told when I did my degre wit would mean I was earning 13% more then my peers. This hasn't happened. I was also told it would guarantee me a job. Also not happened. All factors that encouraged me to work my way into 30k worth of debt and not reap the benefits.

I need to call slc. I don't earn that much. Plus they sent me a letter telling me I'd made no repayments for the year 10/11!! I was paying £190 per month when I was temping and earning a pittance. Something gone wrong. Which of course is another good reason not to take out a student loan. SLC aren't that great.

It does mean you'll be paying off the loan for a longer time. The loans have jumped from £3,000 per year to £9,000 - mine was £3,000 and although it pays itself back automatically, it does increase with interest. It's a weight on your mind, something to worry about every now and then.

I do agree, though - if it's making people think harder about going to university, that's a good thing. It's something that should be considered propertly. And you're right in saying that increased fees doesn't mean fewer people can afford to go to university. It just means more to pay back later.