Posted August 18, 2007 Whilst watching BBC News 24 earlier, they had a bird from the NUS talking about the amount of debt us poor students are going to be facing - and gave around £10,000 as the mean figure that most students will leave with - debt wise. Then she started bitching about how the government should be paying all the tuition fees and stuff, and giving us more grants... Agree? Personally, I think not. I think the system currently is probably the best at the moment - by having a capped price. This way it avoids in increase in the amount of tax people have to pay. I think it also puts off people who want to go to university cos' "I dunno' what else to do", or "all me mates go there". These people are the reason why university had to put in place tuition fees in the first place - people easting there money due to their lack of career advice in the first place. I feel that less, not more, people should be going to university - afterall, if you're never going to use your degree then its pretty selfish to take other people's places, and more importantly, their funding away from them. Maybe this comes across as a bit elitist, but I think its the fairest way of ensuring that university education is used for its proper purpose. And as a second question: how much debt are current/expecting students expecting? Around £30,000 for me. I wanted to create a separate debate, hence this not being in the loonyversity thread.. Share this post Link to post Share on other sites
Posted August 18, 2007 Im doing an MA but only took a loan out for three years. So I think my debts around £12,000 at the moment. Im also in my overdraft £1600. But I dont care I have loved the uni experience and hope to get a good job afterwards. I think teh system could be a lot worse so I shant be complaning. Share this post Link to post Share on other sites
Posted August 18, 2007 In Ireland we have a system where our tuition fees are paid by the State if you are an Irish or EU citizen. If you aren't you have to pay fees. This means that student from all financial backgrounds are on a level playing field (financially speaking) when it comes to applying to and paying for a college course. We also have a local authority Higher Education Grant scheme whereby student from lower income families can apply for a grant up to €3400 (i think) per university year. Student loans similar to the ones you have in the UK don't exist. You can get student loans here but they have short term contracts ie: 2-3 years not the when you start earning policy in the UK. Share this post Link to post Share on other sites
Posted August 18, 2007 IF the problem is people who don't care starting uni, then why don't they make it so those who finish Uni are excused from repaying their tuition fees, and those who drop out/fail still have to pay? (also, those who resit a year should pay for the year they resit). So, as well as managing who goes into uni, it also gives a massive incentive to do well from the very start. Furthermore, grants/bursaries based solely on household income just suck. That system is retarded and unfair. Share this post Link to post Share on other sites
Posted August 18, 2007 Dunno how it works in the UK, but the government mays me around €500 each month for my studies (depends on parents' income, whether you live at home or not, I get the maximum), and it offers a cheap loan for another €250 maximum each month. Considering most people finish university under seven years debts rarely get over €20,000 - only if you don't work to compensate the loan and don't loan your money elsewhere (which shouldn't be necessary). This is a damn good system and makes studying possible for me, considering I'm not from a wealthy family. Share this post Link to post Share on other sites
Posted August 18, 2007 Furthermore, grants/bursaries based solely on household income just suck. That system is retarded and unfair. Not when the price of going to university in Ireland is ridiculous. There is little or no student accomodation at all of the universities in Ireland, therefore most students living away from home enter into full lease contracts for the year. It helps people who can't afford to send a child to college to give them that opportunity. Share this post Link to post Share on other sites
Posted August 18, 2007 I finished with a loan of around £12k and my £1500 overdraft maxed out. I currently still have the full 12k loan to reapy as I dont earn enough yet and £1000 of the overdraft. But thats by choice as its interest free still. (HSBC such mugs :awesome: ) Share this post Link to post Share on other sites
Posted August 18, 2007 Furthermore, grants/bursaries based solely on household income just suck. That system is retarded and unfair. Totally agree with this. Current system benefits those with divorced parents far too much, it's a joke. I expect to be in debt of around £15k I believe, but hopefully if I can get some work every now and then over Christmas and the Summer months then I may be able to get that total down to £10k. Share this post Link to post Share on other sites
Posted August 18, 2007 I really don't mind the system as it is. The debt is paid off gradually once you're in a decent job basically. The overdrafts in this country are pretty fair too, offering you 0% interest repayment as a student. Not that I'll ever get an overdraft, if I can help it. If you work during Uni and are sensible with your earnings, you can pay off a chunk at once. Plus parents/relatives may be nice and help you out. On the other hand, it does seem somewhat expensive! I managed to avoid the "top-up fee" system by getting a placement a year before I started, and deferring to take a gap year, so I'm paying a little less. Still, it's a lot of money, and adding an average of £70-80/per week for accomodation and bills... it really tallies up. Still, I'm not yet feeling the pressure. I got a nice grant at the end of last year due to a change in my parents' employment status, they're not all monsters at student finance direct. Share this post Link to post Share on other sites
Posted August 18, 2007 I'd be happy with £10,000. At the moment I have £12,000 debt. That will increase to about £18,000 by the end of this year. That doesn't include the amount of money I owe my parents for money to do things like eat. The student loan just about covers my accommodation for the year. I complete agree divorced parents benefit far too much. I know two people that are stupidly rich, yet get full fee remission because their parents split up. Last year my dad earned about £200 over the border for full fee remission, so I had to pay £50 in college fees (the old system). Because of this I lost out on about £2000 of bursaries and grants. The whole system is screwed. It only seems to help people who are rich and screw the system over. EDIT: Oh and for all you new guys starting, word of warning, the student loan is technically interest free. However it does increase at the rate of inflation, which is about 1.9% at the moment. for a 4 grand loan each year, after 3 years it's £480 extra, and after 4 years its £800 extra. They forget to mention that. Share this post Link to post Share on other sites
Posted August 18, 2007 If I hadn't changed my mind last minute I would be paying the old system but alas I'm paying the new way. If I had stuck with the old way I'd be able to pay the £1,250ish up front but I can't afford to spare £3,000 (granted I have it but I'd be running on empty). So presuming the tuition fees to be £2,500 a year (for some reason our uni charges £3,000 but gives back £500 during the year which seems faffey to me) and loan around £3,500 on average I will be leaving uni with £18,000 debt. (Not sure if I'm going to do an MA but if I do thats more). Although because I sold my soul to Game I have yet to touch my student loan. So thats £3,500ish less and unless something bad happens I shouldn't need it this year either. I just take it out for insurance really. To be honest I try not to think about it. Share this post Link to post Share on other sites
Posted August 18, 2007 Not when the price of going to university in Ireland is ridiculous. There is little or no student accomodation at all of the universities in Ireland, therefore most students living away from home enter into full lease contracts for the year. It helps people who can't afford to send a child to college to give them that opportunity. What I mean is that it should be based on how much the parents can afford, not how much they earn. My parents (both my Mum/Step Dad and Dad/Step Mom) can't afford to give me money for uni. So they haven't given me a thing. I've got 3 years of renting a house for me to do on my own. I don't get any benefits because of how much my Step Dad earns. The problem is...it's a big family. Childcare ain't cheap. I keep worrying that I'll have to quit Uni because I'll come to a point where I can no longer afford it. When that happens, I doubt I'll get any help. One of my friends, on the other hand, gets everything paid for him by his parents. Because his parent's no longer have a job, he also gets maximum benefits. He doesn't need it at all, but he still gets it. The basic idea of the system is good. The implementation is awful. Share this post Link to post Share on other sites
Posted August 18, 2007 Not when the price of going to university in Ireland is ridiculous. There is little or no student accomodation at all of the universities in Ireland, therefore most students living away from home enter into full lease contracts for the year. It helps people who can't afford to send a child to college to give them that opportunity. The thing is,some peoples parents wont help them out. For example i have one friend whos parents are paying all of her fees etc, and another who's parents wont support them at all despite them earning more than enough to do so, so it depends on your parents not what they earn really Edit, just knowticed cube made pretty much the same post as me but meh, I feel strongly about this. Share this post Link to post Share on other sites
Posted August 18, 2007 So how exactly does the system work in the UK? I can't really follow the discussion... Share this post Link to post Share on other sites
Posted August 18, 2007 Well I'm heading into my third year now. And my total debt is -£2 as the uni owes me £2 because I over paid them a little. Although this year I don't think I'll come out so clean and I'm looking to take a little damage. Share this post Link to post Share on other sites
Posted August 18, 2007 Ah well. I'm down with it. I only start paying back my loans when I earn over 15K. And even then it's a piss poor low. Share this post Link to post Share on other sites
Posted August 18, 2007 And takes like 30+ years or something like that. Share this post Link to post Share on other sites
Posted August 18, 2007 im only going to be in about 12 grand o debt when i leave (compare to other people) cause i ony have to pay back the student loan as my parents are paying for my tuition (spoilt brat? me? ok) just means things wont be as tough for me as alot of people Share this post Link to post Share on other sites
Posted August 18, 2007 Currently I've had £3,000 for first year fees, and a further £3,000 loan. This year I've applied for the fee loan and only £1,500 maintenance loan. For my final year I hope to just apply for the fee loan, I'm working part time, and living at home so I'm not too bad for money at the minute. So I'm hoping for around £13,000 - £14,000. Talking of student loan, still don't think my application for this year has been assessed yet, lazy bastards. Share this post Link to post Share on other sites
Posted August 18, 2007 Talking of student loan, still don't think my application for this year has been assessed yet, lazy bastards. Mien came through as non-financially assessed. meaning I'll miss out on about a grands worth of grants. I've phoned them up and they don't know what the fuck is going on... They are mega shit. Share this post Link to post Share on other sites
Posted August 18, 2007 Mien came through as non-financially assessed. meaning I'll miss out on about a grands worth of grants. I've phoned them up and they don't know what the fuck is going on... They are mega shit. Just checked mine, it now says Assessed, I'm assuming I'm now waiting for them to approve it. Checking my paper work, I had it all confirmed by this time last year and I applied using a paper form. I did it online and went for non-income assessed this time for ease, but its been a cock and ball story, think I might call them on monday just to check its ticking over alright. Got to enrol for my modules on September 20th. Share this post Link to post Share on other sites
Posted August 18, 2007 lol last year (my first year) I didn't get my loan so after a few weeks (late Octoberish) I phoned them up asking where it was and they told me that they sent a form to my parents that they hadn't returned. So I phoned up my mom saying "You know how I haven't had my loan well turns out its because you were meant to fill out a form and didn't." Share this post Link to post Share on other sites
Posted August 18, 2007 Man, I don't even want to think about student fees when I go to uni. I just hope that I'll end up with a good enough job so that uni will be worth the money I'll pay for it. Share this post Link to post Share on other sites
Posted August 20, 2007 This site can give you a very good idea of the amount you'll be paying out on tax/student loans when you get a job: http://www.listentotaxman.com/index.php I left with about £11500-ish worth of loan and a £2100 overdraft. The overdraft is now gone and I'm working on the loan via my pay packet. I think we should pay for uni, but it seems that it's not implemented very fairly. A strict cut-off point with a sharp change in the amount of money going each way seems drastically unfair to me. Share this post Link to post Share on other sites
Posted August 20, 2007 This topic appears to be a lucky charm. Checked the student finance site today and my loan for this year has been approved, thier sending me a letter or something that I've got to sign. Thank god, was getting worried for a bit. Share this post Link to post Share on other sites
