Der erstaunliche Betrag schuldet die Schulden für Studentendarlehen zu

Not well off kids just poor and middle-class kids who then have to spend years and years saving for a deposit for a rubbish flat on top of paying off the interest on the loan. 

It’s effectively a graduate tax, most people will never repay it.

I abuse Salary Sacrifice mechanisms to avoid paying it. My net worth trajectory is absolutely mental and I’m not even 30 yet.

Gov can get fucked lol.

The system is rigged so unless you’re somehow fortunate enough to be able to afford to, you’ll never pay it off.

The interest starts piling up immediately. So when you do starte earning enough to pay it back the loan amount is far higher than you borrowed. Then the default payments are far lower than the interest.

People would call you crazy if you got a loan from a bank and treated it in the same way. Ignoring it for years to let the interest pile up then paying it off at a lower amount each month than it’s going up by

I’ve come to view it as a 9% tax that applies to earnings above ~£25k and is applicable to those born after 1985 who went to University and didn’t have rich parents.

It takes the piss to be honest. I’m not a free university education advocate but it does rankle to know that we are effectively paying 9% more tax than the generation above whilst also having to deal with huge mortgage and rent costs from an out of control housing market.

It’s why I can’t sympathise with WASPI women and Pensioners.

I have tipped into higher rate tax this year and realised student loan effectively means a non graduate gets to take home circa £2.5k a year more than me before they start paying 40% tax.

I think the real problem is that the government has overestimated how much will be repaid. With wages so stagnant there’s going to be a crunch where the gap between projected and actual repayments causes big problems.

I used to work as an academic, I think the other side of this people see a lot less of is that students are taking on all this debt… And it still isn’t anywhere close to enough to then keep universities solvent.

So… Anyone want to take a punt… What actually was the purpose of all these reforms back in 2010/11? Its pushed students into absurd levels of debt they can never repay, its pushed universities to a point where they can hardly afford to actually function, and then longer term its kind of hard to see how this is saving the state money if we still have to cover all this unpaid debt plus all the interest its accrued when it hits the write-off point.

So we’re 15 years down this line and… Why? What for?

I’m not being flippant, I’m deadly serious, we’ve taken one of this country’s last great remaining world-renown industries and basically decided to just totally fuck it for a length of time that is rapidly approaching a full generation… For what?

One of the worst parts about these plan 2 loans has been the overseas repayment. It’s a total mess with regard to minimum repayment thresholds and exchange rates.

After working for 10 years at a decently high paying job I recently looked at how much my student loan went down and it turns out it actually went up because interest outpaced my payments.
That shit isn’t getting paid off ever.

Why do governments put young people in debt by allowing them to take out huge loans for degrees that will never help pay it back? Nearly every liberal arts degree is trash in the real world.

Honestly, there needs to be some government intervention to stop this debt from spiralling out.

It’s not just the issue of outstanding loans, but the fact that salaries haven’t risen enough to even warrant higher education nowadays. Why take out 30-60-100k that will be on your neck for decades, dragging you down, when you could get the same pay or even more with a trade and a bit of apprenticeship here, a certification or two there?

The UK already has an issue of not enough people with higher education to fill a number of positions, and this will further exacerbate the problem by scaring people away from universities.

It’s high time that these predatory loans get rectified – maximalise the profit the loan-giver can make per loan, for example. It’s not that hard, and banks really can’t complain if they get to make 50% profit on an investment over 10-15 years. Also maximise interest rates beyond the max profit, as to incentivise higher earners to pay them back quicker.

I really don’t see why it should be acceptable to saddle the working class with a never-ending loan that they _have_ to get to get their education, when the wealthy can get around it and be burden-free afterwards. It’s just another scheme to keep the poor, poor.

My immediate family combined owes more than the value of the house we rent. It’s ok instead of paying it back we’re paying a combined total of 3.2k a month rent on 4 households

I left Uni with a balance of £45,000. I went straight into a job seven years ago and started paying it back.
The balance today is £51,000.

I haven’t paid back a penny and I don’t think I ever will.

This isn’t really „debt“ in that no-one really expects it all to be paid back, it’s a graduate tax except implemented in a way that means the 50-65 year olds don’t have to pay it (because that generation couldn’t possibly be asked to help anyone else out).

The fees are far too high and the interest border on predatory. A party that advocate for better loan terms will have a good chance to get my vote.

I wonder how many make a living in the area they are qualified in. Serious question. Is it worth it?

Just change it to a tax. Please.

That’s how it functions for the majority of people.

I’m on 2006 style loan, and I’m probably going to finish paying it off when I’m 48. It expires when I’m 50. I came to higher wages in my mid 30s.

My mega successful friends paid theirs off in a few years. My rich friends never had one any way. Putting it as a tax that’s less than „average“ students pay now, expiring at age 50, would still bring in more income.