Vote for us and we'll wipe the debt away...

[chopper]

The story surfaced a few weeks ago:

https://www.theguardian.com/money/20...ore-than-100bn

The total Student Debt outstanding is £100bn. Much of this will be written off anyway, as it is written off after 30 years and many students will not even pay a penny back (by earning under the threshold), and many more will not pay all of it back. Apparently, the figure is around 2/3 of students who will not finish paying it back.

https://www.ft.com/content/55f4a6f6-...c-36b487ebd80a

So nothing is paid back when earning below £21k, and repayments are 9% of anything earned above £21k.

According to that FT article, the average student debt is now £44k. In order to pay it back within 30 years, you would need to be earning £37k per year.

PLENTY of graduates wont even earn the £21k, never mind £37k.

To me, there is an argument that crapper degrees should be more expensive than degrees which will provide real value to the future of the UK, such as real science and engineering degrees. Lets nurture true talent, whilst encouraging those who just see university as a taxpayer funded extra three years before entering the real world to actually just get a job.

[xoggoth]

Starting here:

I actually have to agree with you on that one. How can we tackle excess welfare when these people are getting undeserved wealth and influence by reason of birth? Abolish the monarchy and elect the House of Lords.

Hopefully, once that ghastly twat the Prince of Daftness becomes king, there will be a rise in republicanism.

[darmstadt]

I thought that the government had sold off student loans debt: https://www.ft.com/content/2b66bfaa-...23655?mhq5j=e1

[scooterscot]

In some ways the UK resembles the USSR in the years leading up to 1989.

The gigantic and unaffordable arms bill, the crumbling and distressed housing often a short distance from enclaves of great wealth, collapsing infrastructure (bridges, roads etc...) with no money to rebuild them and an economy in debt up to its eyeballs.

Add to that, a corrupt political system based on what are effectively bribes, a wealthy elite who resemble the apparatchiks and, in the case of the conservatives, an economic ideology that is so tied up with vested interests and the survival and wealth of the apparatchiks that is cannot ever be modified. Yet, it fails so many people and casts many to the wolves.

[woohoo]

In some ways the UK resembles the USSR in the years leading up to 1989.

The gigantic and unaffordable arms bill, the crumbling and distressed housing often a short distance from enclaves of great wealth, collapsing infrastructure (bridges, roads etc...) with no money to rebuild them and an economy in debt up to its eyeballs.

Add to that, a corrupt political system based on what are effectively bribes, a wealthy elite who resemble the apparatchiks and, in the case of the conservatives, an economic ideology that is so tied up with vested interests and the survival and wealth of the apparatchiks that is cannot ever be modified. Yet, it fails so many people and casts many to the wolves.

You talk some tulipe, really do and then repeat and repeat it.

[scooterscot]

You talk some tulipe, really do and then repeat and repeat it.

Vetran started it.

[vetran]

Vetran started it.

£21k is under the national average wage and half of the higher rate tax threshold If I had deferred jobs to get a degree I would expect to reach higher rate tax pretty quickly to repay my investment.

For information I haven't earnt under the higher rate tax threshold for 25 years I don't have a degree.

[SueEllen]

£21k is under the national average wage and half of the higher rate tax threshold If I had deferred jobs to get a degree I would expect to reach higher rate tax pretty quickly to repay my investment.

Doesn't work with every job.

[MarillionFan]

£21k is under the national average wage and half of the higher rate tax threshold If I had deferred jobs to get a degree I would expect to reach higher rate tax pretty quickly to repay my investment.

For information I haven't earnt under the higher rate tax threshold for 25 years I don't have a degree.

£10 minimum wage. 40 hours a week. I'll let you do the maths and work through the stinking dodgy logic.

[chopper]

£10 minimum wage. 40 hours a week. I'll let you do the maths and work through the stinking dodgy logic.

vetran said average wage, not minimum wage.

UK Average Wage is £27,600. UK minimum wage is £7.50 (so about £15,600 a year for someone being paid 40 hours a week).