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The higher rate is 40% and that's before National Insurance Contributions, Student Loan Repayments through HMRC, Personal Allowance removal, etc To be fair fol

The higher rate is 40% and that's before National Insurance Contributions, Student Loan Repayments through HMRC, Personal Allowance removal, etc To be fair folks in the US also have to pay for college, but to give an example of the typical situation in the UK: £55,000 loan on a 7.3% interest rate (it was going to be 12% but the government decided to reduce it https://www.bbc.co.uk/news/education-61765891 https://www.bbc.co.uk/news/education-61765891) in a country where the average income is £31,722 per year

mrcartmeneses 4y ago
It really depends when you went to uni. My sister had free tuition and a grant. I had a small tuition fee and student loans (totally 9k at below inflation interest rate, now paid off). New students are unfortunately likely to face the kind of debt and terms you describe. It’s a very sad situation. The conservative government have been running Britain into the ground since they took power after 10 years of very good governance by labour (reduced NHS waiting times, good economic growth, ability to deliver infrastructure projects in time and on budget, reduced crime, reduced child poverty, etc etc.) that was soured by the financial crisis. Then the conservatives grabbed power and shoved the country into reverse, doubling the national debt in the first four years through “austerity” policies designed to reduce spending that instead caused a double dip recession and negated any savings through reduced tax receipts. Then poverty and crime rose while the economy tanked and the social safety net and police and health services were gutted (my local area lost 1/4 of its police officers, for example). And all of that had to be blamed on Eastern European immigrants and Europe so we had Brexit. David Cameron has to go down as the worst prime minister in the history of Britain. He’s been a complete disaster on every front. The current clown is just a sick result of Cameron’s incompetence.
- intunderflow 4y ago
  As a 2019 graduate I just feel lucky that I'm fortunate enough to be able to pay the whole thing off rather quickly. The same can't be said for everyone else in my cohort. Honestly I don't think they'll ever write Plan 2 loans off, these people will spend their entire life paying their 9% loan repayments, with no hope to ever pay off the total sums as they climb by 5% a year.
- sph 4y ago
  Cameron was so terrible the British people keeps voting in his entourage. Imagine seeing May and Johnson as the saviour of the country. This is the same people that stopped voting Lib Dem because they lied, that time. How daft is that. The voting majority is completely irrational, however one tries to rationalise their behaviour (it was a protest vote!) I expect Tories to be voted in again next election.
deleted 4y ago
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mrcartmeneses 4y ago

It really depends when you went to uni. My sister had free tuition and a grant. I had a small tuition fee and student loans (totally 9k at below inflation interest rate, now paid off). New students are unfortunately likely to face the kind of debt and terms you describe. It’s a very sad situation. The conservative government have been running Britain into the ground since they took power after 10 years of very good governance by labour (reduced NHS waiting times, good economic growth, ability to deliver infrastructure projects in time and on budget, reduced crime, reduced child poverty, etc etc.) that was soured by the financial crisis. Then the conservatives grabbed power and shoved the country into reverse, doubling the national debt in the first four years through “austerity” policies designed to reduce spending that instead caused a double dip recession and negated any savings through reduced tax receipts. Then poverty and crime rose while the economy tanked and the social safety net and police and health services were gutted (my local area lost 1/4 of its police officers, for example). And all of that had to be blamed on Eastern European immigrants and Europe so we had Brexit. David Cameron has to go down as the worst prime minister in the history of Britain. He’s been a complete disaster on every front. The current clown is just a sick result of Cameron’s incompetence.

intunderflow 4y ago
As a 2019 graduate I just feel lucky that I'm fortunate enough to be able to pay the whole thing off rather quickly. The same can't be said for everyone else in my cohort. Honestly I don't think they'll ever write Plan 2 loans off, these people will spend their entire life paying their 9% loan repayments, with no hope to ever pay off the total sums as they climb by 5% a year.
sph 4y ago
Cameron was so terrible the British people keeps voting in his entourage. Imagine seeing May and Johnson as the saviour of the country. This is the same people that stopped voting Lib Dem because they lied, that time. How daft is that. The voting majority is completely irrational, however one tries to rationalise their behaviour (it was a protest vote!) I expect Tories to be voted in again next election.

deleted 4y ago

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