Having a REALLY good time a university

[DimPrawn]

BBC News - Twenty largest student debts revealed

The biggest debt currently owed to the Student Loans Company is £66,150, the BBC has learned.

A Freedom of Information request has revealed that the total sum of the 20 largest student debts is over £1m.

[OwlHoot]

You're only young once

Anyway, why can't the students just declare themselves bankrupt and walk away from it?

[DimPrawn]

You're only young once

Anyway, why can't the students just declare themselves bankrupt and walk away from it?

Yep, it's a pretty good plan, especially if you are enjoying yourself that much you fail your degree anyway.

Woo hoo!

[amcdonald]

You're only young once

Anyway, why can't the students just declare themselves bankrupt and walk away from it?

Or do contract work abroad, keep moving countries and they'd give up chasing you I'd expect

[Freamon]

How long will it be before student loans in the UK are handled like those in the US (i.e. virtually impossible to discharge by declaring bankruptcy)?

This is already the case:

The Student Loan and Bankruptcy

[vetran]

typical, they screw everyone else out of the money but not the government

oh forgot they have gold plated pensions to pay

[C0ldf1re]

... why can't the students just declare themselves bankrupt and walk away from it?

They used to do that! But new legislation says bankrupcty does not write off student loans.

[Scrag Meister]

Wow!!

I remember when I was in higher education and survived on <2k a year, a gift from the government. :-) No tuition fees though. No student loans either.

[VectraMan]

What's green and takes a week to drink?

A grant cheque*.


*Historical note: A grant cheque was money given by the state to students to cover the cost of living whilst studying for a degree.

[ThomasSoerensen]

In Denmark for a certain of Bachelors degree (HD) there is a different way.

You work as an employee during the day and study for 4 year in the evenings.
Your employer pays tuition fees and books.

Most work in jobs highly relevant to the studies.

So you end up with people with practical experience in the field they have studied.
They have no student debt as they have received a salary during the studies and their employer has paid the University costs.

These people are highly sought after by businesses as you have proven you can handle a high workload and stress successfully.

Why not adobt a system like that?

Benefits: Uni gets paid, young people get employed and educated, business gets good employees that have proven their worth.
Drawbacks: Not all young people can handle the stress and has to stop the degree before graduating, so it is not "fair for everyone".

cheers
Thomas