Sunderland uni tuition fees announced


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There are no upfront fees. They don't have to repay anything until they graduate and start earning more than £21,000 a year - that's £6,000 a year more than your average Wearsider earns.



How do students afford that while studying full time?
 
Thats what the student loan is for.

Hate the idea that people have to pay Uni tuition fees particularly given that those who have decided to bring them in were paid to go to University..

HOWEVER

My fees were under the old system and are about £20k in total as had kids while studying......

I currently pay £90 a month in loan repayments.....If I was paying under the new system I would be paying £45 a month.

Interestingly I wont ever pay back the full amount I borrowed as will retire well before its paid (infact despite paying back £1100 this year my loan amount will actually increase because of the higher level of inflation which sets my interest rate)

Government could have SERIOUSLY fucked up here as much of this money will never ever be paid back. So not only are students being hammered for a fortune in fees BUT the tax payer will see no advantage as they still end up paying the loan off anyway.
 
How do students afford that while studying full time?


The student loans in the uk are basically free money. now with the rise in fees you do not begin to repay them untill you earn over £21,000 a year(after taxes iirc) and you repay them at a rate of around £25 a week.

if you havent the loan repayed in 30 years it is wiped.
 
There are no upfront fees. They don't have to repay anything until they graduate and start earning more than £21,000 a year - that's £6,000 a year more than your average Wearsider earns.

average wage on wearside is 15k??

and is that right you dont pay until you gradute? surely not
 
Glad I'm no longer a student with fee's like those proposed.

Okay you don't pay it back until you earn just above average earnings but you're going to be saddled with paying a chunk of your earnings at a time when you're probably buying your first house and probably starting a family.

I left with £6k worth of debt and that's nearly all paid off now, if I had to do it again I worked out I'd have been nearly £100k in debt after 7 years of study.

Fuck that. :lol: Nobody will want to be doing courses like medicine or architecture because the pays not massive but is above the threshold to pay back so they'll be saddled with paying that back for 20-30 years. Even over 30 years that's £277 per month - for 30 years. :eek::lol:
 
So whats the f***ing point in it :confused:

Exactly....Take this as an example...

Student has debt of £30k......Interest on that is at rate of inflation (say 4% per annum)....That eqautes to £1200 in interest in year 1....

Now assuming the student becomes a teacher....


Year 1 Salary 21k Interest on loan £1200 repayments £60 (£5 per month)


Year 2 Total debt is now £31,140 Salary is £23k Interest on loan is £1245 repayments £180 (£15 per month)


Year 3 Total debt now £32205 Salary is £25k Interst on loan is £1288 repayments £300 (£25 per month)


Year 4 Total debt now £33193 Salary is £27k Interest on loan is £1327 repayments. £420 (£35 per month)


Year 5 Total debt now £34520 Salary is £29k Interest on loan is £1380 repayments, £540 (£45 per month)

Year 6 Total debt now £35900:eek:


Anybody seeing a problem here :lol:
 
Bagpuss said:
Exactly....Take this as an example...

Student has debt of £30k......Interest on that is at rate of inflation (say 4% per annum)....That eqautes to £1200 in interest in year 1....

Now assuming the student becomes a teacher....

Year 1 Salary 21k Interest on loan £1200 repayments £60 (£5 per month)

Year 2 Total debt is now £31,140 Salary is £23k Interest on loan is £1245 repayments £180 (£15 per month)

Year 3 Total debt now £32205 Salary is £25k Interst on loan is £1288 repayments £300 (£25 per month)

Year 4 Total debt now £33193 Salary is £27k Interest on loan is £1327 repayments. £420 (£35 per month)

Year 5 Total debt now £34520 Salary is £29k Interest on loan is £1380 repayments, £540 (£45 per month)

Year 6 Total debt now £35900:eek:

Anybody seeing a problem here :lol:

Yes, me, I can imagine inflation being 4%pa permanently. ;)
 
Glad I'm no longer a student with fee's like those proposed.

Okay you don't pay it back until you earn just above average earnings but you're going to be saddled with paying a chunk of your earnings at a time when you're probably buying your first house and probably starting a family.

I left with £6k worth of debt and that's nearly all paid off now, if I had to do it again I worked out I'd have been nearly £100k in debt after 7 years of study.

Fuck that. :lol: Nobody will want to be doing courses like medicine or architecture because the pays not massive but is above the threshold to pay back so they'll be saddled with paying that back for 20-30 years. Even over 30 years that's £277 per month - for 30 years. :eek::lol:


Before I went to Uni I earned about £15k......Studied law, ammassed debts of around £20k.....I now payback £90 is a month but earn twice (soon to be 3 times) my old salary.....Agreed re: paying a chunk out of my salary at a time when I have other responsibilities, (3 kids).

HOWEVER

I have a car loan that costs me £100 a month, my education has done a damn site more for my prospects in life and my future earning potential than my car.....I was going nowhere, I got my degree (then postgrad) and it opened up a whole new world to me.....(I am no different to what I was, I have no more ability but do have that all important piece of paper)

Top and bottom is that it is not fair, those who are making the decision to saddle us with this debt never paid it themselves

Oh and it will be the best investment you ever make :-D
 
Exactly....Take this as an example...

Student has debt of £30k......Interest on that is at rate of inflation (say 4% per annum)....That eqautes to £1200 in interest in year 1....

Now assuming the student becomes a teacher....


Year 1 Salary 21k Interest on loan £1200 repayments £60 (£5 per month)


Year 2 Total debt is now £31,140 Salary is £23k Interest on loan is £1245 repayments £180 (£15 per month)


Year 3 Total debt now £32205 Salary is £25k Interst on loan is £1288 repayments £300 (£25 per month)


Year 4 Total debt now £33193 Salary is £27k Interest on loan is £1327 repayments. £420 (£35 per month)


Year 5 Total debt now £34520 Salary is £29k Interest on loan is £1380 repayments, £540 (£45 per month)

Year 6 Total debt now £35900:eek:


Anybody seeing a problem here :lol:

that is the interest element bulding up, the principal amount is still being repaid.
 
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