77% of graduates won't pay all of their student loan back before they die 77% of graduates won't pay all of their student loan back before they die - Page 2
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  1. #11

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    As others have said above, if students are not paying off their loans it shows their degrees were of little benefit.

    Too much emphasis on STEM degrees for a spiv economy. The UK needs more people well qualified for hotel management, media and banking. Solid humanities graduates can take up the strain in management consulting
    Media and banking are good but not sure about hotels etc. We already have an economy slanted towards low value jobs, hotels, restaurants, fast food shops etc. A more high tech. German model would be better. Ultimately a lower population with jobs replaced by technology would make the UK a pleasanter place to live in.
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    Quote Originally Posted by xoggoth View Post
    As others have said above, if students are not paying off their loans it shows their degrees were of little benefit.



    Media and banking are good but not sure about hotels etc. We already have an economy slanted towards low value jobs, hotels, restaurants, fast food shops etc. A more high tech. German model would be better. Ultimately a lower population with jobs replaced by technology would make the UK a pleasanter place to live in.
    It's not really a smart move to cut the UK out of the single market is this is the direction the UK wants to go in. Best play to national strengths, such as video games, advertising, banking etc. And don't discount tourism. The UK is a major attraction and tourism will always supply jobs for people at the lower end of the skills spectrum who deserve the dignity of work. But the UK needs to up its game in standards in a competitive markey. Check out this horror: “I couldn't even put it on expenses”
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    Reducing population is difficult as there is a significant trend in the age profile of the nation with an aging population and it demands a response. Some of that is technology (I work peripherally in this area) and some of that may be changes in retirement age. Some of it will have to be immigration, as to attempt to reduce the population while the population is aging (unless we introduce Logan's Run for the over 75's) will be very challenging indeed.
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  3. #13

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    The Tories seem blind to this ridiculous and ever worsening student loan situation, £100 billion currently owed I believe and growing rapidly. If they don't sort it out soon then Corbyn & co will walk the next election hopping on one foot.

    At the very least, they should reduce to zero the interest rate. I think this is currently 3% + RPI, and so at about 6% it is appallingly high even by today's mortgage standards:

    2017-04-13 Student loan interest rates will rise to 6.1 per cent

    Tory strategists appear to think a student loan is manageable, and thus nothing to worry about, because it is repayable only when salaries rise above a certain threshold. But that doesn't alter the fact that it is still sitting there "lying in wait" like an extra higher rate tax kicking in and preventing the debtor obtaining a mortgage.

    These complacent strategists should also bear in mind that student debt affects not only students but their BOMAD parents and even grandparents.

    (edited to fix interest rate)
    Last edited by OwlHoot; 5th July 2017 at 09:17.
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  4. #14

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    Quote Originally Posted by OwlHoot View Post
    The Tories seem blind to this ridiculous and ever worsening student loan situation, £100 billion currently owed I believe and growing rapidly. If they don't sort it out soon then Corbyn & co will walk the next election hopping on one foot.

    At the very least, they should reduce to zero the interest rate. I think this is currently 3% above base rates, and so at about 6% it is appallingly high even by today's mortgage standards.

    Tory strategists appear to think a student loan is manageable, and thus nothing to worry about, because it is repayable only when salaries rise above a certain threshold. But that doesn't alter the fact that it is still sitting there "lying in wait" like an extra higher rate tax kicking in and preventing the debtor obtaining a mortgage.

    These complacent strategists should also bear in mind that student debt affects not only students but their BOMAD parents and even grandparents.
    You, boy! What is 3% above base rate?
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  5. #15

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    Quote Originally Posted by northernladyuk View Post
    You, boy! What is 3% above base rate?
    Sounds like you've started on the sauce early, but ...

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    Some of it will have to be immigration, as to attempt to reduce the population while the population is aging
    But does that make much sense in the long term? Migrants will eventually age too and most indicators suggest that lifespan will continue to increase for a while yet. If the retirement age stays the same, today's hard working youth will spend even longer as net recipients of the state and, as more will have been in higher education, often pointlessly, they will contributed less to the tax system.

    Technology is a better solution but a simpler one is to keep raising the retirement age in line with life span. Major health problems don't start at a particular age, they tend to happen a few short years before death. Plenty of currently retired people could be working and contributing to the economy.
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  7. #17

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    Quote Originally Posted by OwlHoot View Post
    The Tories seem blind to this ridiculous and ever worsening student loan situation, £100 billion currently owed I believe and growing rapidly. If they don't sort it out soon then Corbyn & co will walk the next election hopping on one foot.

    At the very least, they should reduce to zero the interest rate. I think this is currently 3% above base rates, and so at about 6% it is appallingly high even by today's mortgage standards.

    Tory strategists appear to think a student loan is manageable, and thus nothing to worry about, because it is repayable only when salaries rise above a certain threshold. But that doesn't alter the fact that it is still sitting there "lying in wait" like an extra higher rate tax kicking in and preventing the debtor obtaining a mortgage.

    These complacent strategists should also bear in mind that student debt affects not only students but their BOMAD parents and even grandparents.
    Indeed - but as no one is forced to go to uni then maybe people need to think about whether they can afford it before they sign up for it.

    Bit like everything else in life.

  8. #18

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    Quote Originally Posted by OwlHoot View Post
    Sounds like you've started on the sauce early, but ...

    https://twitter.com/duncanlean/statu...92233446039552
    I'll break it down for you. What is the UK base rate?
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  9. #19

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    Default 77% of graduates won't pay all of their student loan back before they die

    Quote Originally Posted by northernladyuk View Post
    You, boy! What is 3% above base rate?
    It's 3% above RPI (in March?), not above the base rate.

  10. #20

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    Quote Originally Posted by PurpleGorilla View Post
    It's 3% above RPI (in March?), not above the base rate.
    Yes, I fixed this in my post, but the conclusion still stands.
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