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How do students afford that while studying full time?
How do students afford that while studying full time?
How do students afford that while studying full time?
Thats what the student loan is for.
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?
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.
So whats the f***ing point in it![]()
average wage on wearside is 15k??
and is that right you dont pay until you gradute? surely not
average wage on wearside is 15k??
and is that right you dont pay until you gradute? surely not
Of course that bit is true, and not until you're earning over £21k too.
Anybody seeing a problem here![]()
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
Anybody seeing a problem here![]()
is that £21,000 including taxes?
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.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.
![]()
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
Anybody seeing a problem here![]()