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> The UK only has one of those problems: property costs. University education in UK (sans Scotland) has gone from zero to GDP 9k a year in fees, the average de
by padthai 5y ago
> The UK only has one of those problems: property costs.
University education in UK (sans Scotland) has gone from zero to GDP 9k a year in fees, the average debt per student is GDP 35k. I know that this quantity and the associated conditions for Americans, or London IT people, sounds like a joke. But AFAIK the average pre-tax graduate job salaries in about GDP 24k.
- padthai 5y agoToo late cannot edit. Where I put GDP, please read GBP.
- inops 5y agoThe £9k a year figure is mostly smoke and mirrors though. All British citizens are eligible for a tuition "loan" that covers it. That "loan" (and the maintenance loan too) is the equivalent of a graduate tax, as it's a percentage (9% for the current lot of students) charged on income made past a certain amount (above £25,000 for this lot). The loan is wiped 30 years after graduation (this what will happen for the majority of students).
- KaiserPro 5y agoI get that its sold as a "loan" but its not. Its a ~9% tax that only kicks in after ~25k and disappears at 55(or thereabouts) the American system are actual loans at commercial rates and terms[1]. apart from you can't bankrupt your self out of them. [1]well its more complex.