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Don't cherry pick. Student loans, though a new idea in the UK, are rapidly inflating in price. Not to the astronomical levels of the USA but heading in that gen
by smackay 13y ago
Don't cherry pick. Student loans, though a new idea in the UK, are rapidly inflating in price. Not to the astronomical levels of the USA but heading in that general direction. Care for the elderly is a growing rapidly also. I don't have any close family in that situation but I there are extended family members who are and the costs are comparable to the figure quoted - though I don't have exact figures.
So, not so different after all.
- cmdkeen 13y agoUK student loans are nothing like the USA. It is in effect a graduate tax that you may or may not stop paying one day. Your repayments are a fixed percentage above a very generous floor, with no effect on credit ratings, mortgage applications or anything else. UK student loans will never destroy anyone's life.
- hipsters_unite 13y agoYes, but £27,000+ minimum of debt for an undergraduate degree is still a lot of money. Plus cost of living is very high for most places in the UK where there's lots of employment to be found.
- lmm 13y agoIt's not a #27000 debt in any meaningful sense. It's a slightly higher tax rate and some smoke and mirrors.
- cmdkeen 13y agoTo make it clear you repay at 9% of your income above £21,000, and get a year's grace just after graduating. There are no consequences to failing to pay it back if your income is below £21k.