Student Loan Interest Rate to hit 12%

[Cirrus]

https://www.bbc.co.uk/news/education-61088025

While the corrupt and devious hide their wealth to avoid paying tax (you know who you are) the youth carry a disproportionate burden.

Shame on you Blair, Clegg and the current Gov.

 

[Xipe Totec]

Continuing the ongoing project of making sure that further education is a privilege for the right people. With an optional capital 'R', of course.

 

[AuroraSaab]

I'm not 100% against student loans but a sensible system would have them much lower, with government subsidising most of it. It's turned young people into cash cows for unis, many of whom offer courses that are terrible value for money.

 

[BoldonLad]

Since I belong to a generation which enjoyed “free” university education (although, I didn’t personally avail myself of it), I am very uncomfortable with fees for students. But, according to BBC the “interest rate” is to drop to 0% in the near future. This system is not a “loan”, it is a Student Tax, and, we should call it such. IMHO.

 

[Craig the cyclist]

https://www.bbc.co.uk/news/education-61088025

While the corrupt and devious hide their wealth to avoid paying tax (you know who you are) the youth carry a disproportionate burden.

Shame on you Blair, Clegg and the current Gov.

You do know how this 12% will work don't you? You haven't just taken the highest headline number you have seen and gone with another hyperbolic thread title?

 

[Cirrus]

You do know how this 12% will work don't you? You haven't just taken the highest headline number you have seen and gone with another hyperbolic thread title?

Nah , just quoting auntie beeb.

 

[Craig the cyclist]

Nah , just quoting auntie beeb.

Only graduates earning around £50,000 plus will be paying that 12% for a few months in 2022-2023.

"The maximum rate will reach an eye-watering level of 12% between September 2022 and February 2023 and a low of around zero between September 2024 and March 2025"

It's a shame that you forgot to mention the bit about the rate dropping to 0% a few months later. That isn't such a good government bashing headline though is it?

 

[Cirrus]

Only graduates earning around £50,000 plus will be paying that 12% for a few months in 2022-2023.

"The maximum rate will reach an eye-watering level of 12% between September 2022 and February 2023 and a low of around zero between September 2024 and March 2025"

It's a shame that you forgot to mention the bit about the rate dropping to 0% a few months later. That isn't such a good government bashing headline though is it?

Why is it a shame, I simply reflected the BBC article, which is underpinned by the IFS.

No hyperbole, no embellishments. In fact I started by pointing out that Blair, brought in the fees, bemoaning Clegg for going back on his promise not to raise the fees, and then pouring vitriol on the current gov for keeping the fees going.

 

[qigong chimp]

Closing tax avoidance/evasion loopholes makes the student grant, effectively, a student loan.

No representation without taxation.

 

[winjim]

Innit funny how my NHS pension is linked to CPI yet student loan repayments are linked to RPI...