icowden
Pharaoh
That's not true. The fact that they have a degree gives them prospects.
Burnham
- Thread starter briantrumpet
- Start date
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Pblakeney
Shaman
Except we end up in the position where everyone has a degree. Now those who want the top jobs need a Masters...and so on...
Dorset Boy
Senior Member
Perhaps try asking the majority of 2025 and 2026 graduates what prospects their degrees have given them!
And your £2 comment also ignores the fact their debt will be increasing fasteer than they can repay it.
Personally I would make the tuition loan interest free, and the mintenance loan a nominal 1% pa interest.
Psamathe
Legendary Member
Didn't Ms Reeves freeze the thresholds for repayments as weee? Or was that U-turned?
Dorset Boy
Senior Member
Sorry, but what does "as weee" mean?
Psamathe
Legendary Member
Daft typo. No idea how it happened (finger trouble).
midlandsgrimpeur
Prostrate Member
I get what you are saying, I was thinking something more on the positive alternatives way of persuasion, rather than creating expectations of drudgery. I was thinking more of my own example. I had 15 years of various charity and public sector jobs, I now run the family business (something I never imagined I would do). In all honesty the day to day tasks are absolutely fine, but they are not the most exciting. However, this is outweighed by the flexibility of the job, I get to make decisions, don't have to be managed and so on. I think educating younger people about work should involve highlighting all the aspects of work, not just the actual job content, which I think a lot of people get hung up on.
midlandsgrimpeur
Prostrate Member
I am not sure if this still goes on but there was a point in certain industries (particularly creative type fields) where they were putting out 6-12 month unpaid internships asking for MA level education and 3 years experience! Something that would previously get you a £35k a year job was now getting you work experience.
BoldonLad
Old man on a bike. Not a member of a clique.
- Location
- South Tyneside
There are
Electric_Andy
Regular
Arguably, because for the last 10 years this form of education has saddled the graduate with debt and not many transferable skills to fall back on if/when they realise they can't get a job doing what they studied for
BoldonLad
Old man on a bike. Not a member of a clique.
- Location
- South Tyneside
If you say so, all of those Graduates I encountered were perhaps simply failing to exploit their prospects with their Media Studies Degrees
icowden
Pharaoh
Jobs. Within 15 months around 57% will be in full time employment, 24% in other employment (so part time and study - masters etc), 5% in full time further study.
Only 7% will be unemployed. Of the employed 75% will be in high skilled roles. The median salary for a graduate is £30k.
It doesn't matter. They never have to pay it off if they don't earn more than £25k. The people earning £30,500 per annum from graduation would eventually pay off their loan if they never have any break.
How would you pay for it?
Dorset Boy
Senior Member
In one breath you say that getting a degree improves their prospects - presumably that is reflected in a much higher salary than for non-graduates.
Later you say they will never pay it off if they earn minimum wage.
Well do you not see the conflict in your statements - there is zero point in getting saddled with £50k student debt to then earn minimum wage.
If you genuinely believe their prospects are improved, then they will pay off the debt, and for Loan 5, that stays with them for 40 years.
As for paying for it, it's still a loan, just not one with punitive interest rates, so people at the lower earning end do actually pay it back rather than maybe having it written off in the future having only ever paid some of the interest.
icowden
Pharaoh
All cows have 4 legs. Not all things with 4 legs are cows.
So no point in trying then. The 57% who are earning more than minimum wage within 15 months of graduation are just idiots.
Most graduates will eventually pay off the debt.
No it isn't. It's a tax. It doesn't affect your credit rating and you only make payments when you are earning enough to do so. The terms can be changed at any point by the UK Govt. See Martin's guide here;
https://www.moneysavingexpert.com/students/student-loans-england-plan-5/
Psamathe
Legendary Member
It's a sad aspect to our society that our politicians (or greed) have turned an education into financial renumeration prospects. In my idealistic world people should be able to use education to stretch their minds, to learn new ways of looking at things, etc.
Thinking aloud (ie hypothesising) but maybe rise of far-right, intolerance of other groups, that people fail to question twaddle politicians feed them (eg Brexit), etc. maybe links back to too many having inadequate education. Maybe studying eg Assyriology might not get you a high paid career but it will teach you to think around problems, to question information pushed at you, to try and recognise indirect consequences.
One responsibility in my main career was recruiting new people to the team I managed. Software development yet it turned out I never recruited anybody with a Computer Science degree as invariably candidates from other science subjects were much better eg maths, physics, even biology. Similarly, earlier in my career I got several jobs developing software using programming languages I'd never learnt and had no idea about, getting appointed on the basis that I could think and learn.
