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> I would not have taken a loan to the tune of $1000/year because that would have been too risky. I would have opted for the less risky option of herding cows.
by MarkMc 12y ago
> I would not have taken a loan to the tune of $1000/year because that would have been too risky. I would have opted for the less risky option of herding cows.
What if the loan repayments were a percentage of your salary, rather than a fixed rate? I wonder why these types of loans aren't offered...
- sanderjd 12y agoDo you mean the monthly payments or the total payment? They offer salary-adjusted monthly payments (in the U.S. at least), but obviously you pay (a lot) more in interest that way and usually end up indentured to the loan for nearly your entire working life.
- whatusername 12y agobarring recent changes -- the system in Australia worked quite well. For government subsidized university places (read - most places for Australian students) - tuition amounts were capped at specific levels. These could be deferred by All students on a loan - that charges CPI (Inflation) as it's interest rate. Repayment kicks in once the student earns a certain level - and goes up as a % depending on their income.