Student Loans maybe privatized

[Part 2]

I was considering going to uni over the last couple of years, not because I want a degree, but more to screw the student finance people for everything I can, knowing full well that I'm a lazy cunt that ain't ever gonna put the effort in to get a job that pays more than I need for subsistance. I'm assuming the debts get written off at retirement?

Now I just need to figure out which course is the easiest to coast through over the next 3 years. I don't even care if I pass or fail as long as the cash flows

This has been my plan for years. I've got a few years of work left yet then I plan to start seriously looking.

Make sure to pick a foundation degree so you get 4 years money instead of just the 3

 

[brogdale]

Government confirms preference for retrospective price hike on undergraduate study

​

Breach of contract. Except the fuckers have exempted themselves from such inconvenient constraint.

Rather depressed to say that I was dead right back then.
Looks like the vermin want to lower the threshold of repayment down to £23k from the present £27295 earnings.
Obviously this will impact on many more lower earning graduates as well as raising repayment rates for those already paying.

 

[Sprocket.]

Despicable, when we know how many of the mega rich tory scum MPs and their opposition counterparts got a free education.

 

[not-bono-ever]

Can’t change the T&C of a extant contract without explicit consent . Let’s see if they try this in with a mail out to their student clients. Unless of course there is a clause allowing these unknown changes in the original paperwork

 

[brogdale]

Can’t change the T&C of a extant contract without explicit consent . Let’s see if they try this in with a mail out to their student clients. Unless of course there is a clause allowing these unknown changes in the original paperwork

Student Loans maybe privatized

 

[not-bono-ever]

Fuck

 

[brogdale]

Fuck

Indeed.

 

[brogdale]

The 'logic' of the neoliberal, consolidator state:



wrecking cunts

 

[SpookyFrank]

The 'logic' of the neoliberal, consolidator state:

View attachment 293818

wrecking cunts

They'll not limit the numbers of students doing these courses, they'll limit the number of loans available so that only rich kids get to be artists.

 

[SpookyFrank]

Also the earning prospects for young people with any kind of degree are pretty bleak at the moment. I've got a good degree in a STEM subject from a 'good' university and I've just last month started paying back the loan I took out 20 years ago. I've managed to knock 15 quid off the total after borrowing another nine grand to retrain last year.

 

[brogdale]

Also the earning prospects for young people with any kind of degree are pretty bleak at the moment. I've got a good degree in a STEM subject from a 'good' university and I've just last month started paying back the loan I took out 20myears ago. I've managed to knock 15 quid off the total after borrowing another nine grand to retrain last year.

Exactly; it's a fools errand to pick apart the 'logic' of such moves...they're just thinly disguised attacks on "useless mouths" disciplines regarded as potentially subversive that also happens to defend the returns to their fincap mates that took the loan books off their hands.

 

[SpookyFrank]

Society: these feckless young people, never paying back their debts.
Also society: let's get some young people who can't afford homes to pay our mortgages for us.

 

[brogdale]

Yep, proper neoliberalism eats itself loop when the low wage economy is accelerated so quickly that it compromises fincap's ability to debt farm grads.

 

[mojo pixy]

I'm trying to work out the practicalities of doing a law degree using loans, then doing only pro-bono work with it afterwards

 

[kabbes]

The 'logic' of the neoliberal, consolidator state:

View attachment 293818

wrecking cunts

Just so long as they keep the high-value PPE courses that produce our high-quality, high-paid MPs.

 

[ATOMIC SUPLEX]

They'll not limit the numbers of students doing these courses, they'll limit the number of loans available so that only rich kids get to be artists.

This was always the problem with TV when I first started in the industry. To get a foothold you needed to be able to survive without money to get the ball rolling. You would also need to already know someone in the biz, so you were probably a posho already. Ta da, an industry comprised almost entirely of of upper middle class white people from west London.

 

[brogdale]

Jon Trickett has laid down an EDM against the threshold reduction:

Student loan repayment threshold - Early Day Motions - UK Parliament

That this House expresses its concern about proposals to lower the threshold at which students repay their student loans; notes that the average student leaves university with £50,000 worth of debt and is currently required to start paying off their student loan when they earn £27,295 a year; further notes that under new proposals this would drop to as low as £22,000 a year; recognises that this would mean a significant increase in debt repayments for most graduates with those earning above the average salary paying up to £475 more a year; further recognises that young people are already being hit the hardest by the recent increase in National Insurance Contributions and this latest proposal will mean that university leavers pay double the amount of tax as pensioners earning double their salary; regrets that this pitches current and future students against those generations who benefited from a more affordable higher education; believes that higher education is a vital public good that benefits the whole of society and that the burden of costs should fall on the wealthiest; calls on the Government to scrap their current proposals to lower the threshold at which students start repaying their student loans and to bring forward new proposals that reduce student debts; and further calls on the Government to review the funding system for higher education and to examine the possibility of abolishing tuition fees and funding higher education through wealth and income taxes.

 

[brogdale]

Real terms threshold reduction by 'stealth' freeze.
Farm that debt.

 

[brogdale]

And the IfS have revised their assessment to show the regressive nature of the 'reforms' are even more pronounced than they first thought:



and the "levelling-up" government's own equality impact assessment said:

Alongside younger and female borrowers, those likely to see some negative impact with increased lifetime repayments under the reforms for both post-2012 and new borrowers are more likely than average to have characteristics of white or black ethnicity, from disadvantaged backgrounds, or reside in the North, Midlands, South-West or Yorkshire and the Humber.

Banker cunts

 

[brogdale]

Sounding alarm about their own regressive, grasping, debt-farming policy to enrich their fincap mates and donors; utter cunts.

 

[ska invita]

Sounding alarm about their own regressive, grasping, debt-farming policy to enrich their fincap mates and donors; utter cunts.

View attachment 323598

I still blame Blair for this inevitable bullshit

 

[brogdale]

Bumper crop on the debt farm.

 

[Riklet]

Not paid any back for years. I think mine will be written off in 13 years' time....

25 years from the first April after it first became repayable apparently...

 

[brogdale]

Not paid any back for years. I think mine will be written off in 13 years' time....

Sadly not my kids' experience.

 

[Riklet]

Sadly not my kids' experience.

Rules changed in 2006 after they increased it.

I went between 2006 and 2012 when the fees were hugely increased and repayment rules changed.

I borrowed about 18k and have maybe paid a grand off in total but the interest has been higher than that for sure. It's probably way higher now, I haven't checked. Def dont intend to pay it off more than the v minimum. It's just a gov debt tax fiddle to "balance the books".

 

[brogdale]

Rules changed in 2006 after they increased it.

I went between 2006 and 2012 when the fees were hugely increased and repayment rules changed.

I borrowed about 18k and have maybe paid a grand off in total but the interest has been higher than that for sure. It's probably way higher now, I haven't checked. Def dont intend to pay it off more than the v minimum. It's just a gov debt tax fiddle to "balance the books".

I'm not convinced that it was only a gov tax fiddle to "balance the books". Sure, there was that element of the book counting as assets against PSBR, but I think the whole concept of debt farming was and is fundamentally neoliberal in its ideology.

 

[Riklet]

I owed 23k as of June last year.

Probs about 25k this year due to higher interest rates. For some reason theyre not deducting any from my current job, maybe I dont earn enough.

 

[xenon]

Can’t change the T&C of a extant contract without explicit consent . Let’s see if they try this in with a mail out to their student clients. Unless of course there is a clause allowing these unknown changes in the original paperwork

yes, apparently there is. See discussion from 10 years ago...

Mine should be written off this year <things that make you feel old thread.>