3 ms·
This is something I find quite odd about US tuition. In the UK tuition fees are rather high now (though not quite US levels). But they are repaid, at a 'margin
by stegosaurus 12y ago
This is something I find quite odd about US tuition.
In the UK tuition fees are rather high now (though not quite US levels). But they are repaid, at a 'marginal tax rate', only if your income is above a certain level (17K or 21K at present. For comparison minimum wage full time is roughly 13.5K.
So if you take on tuition debt, and then never secure highly paid work, nothing happens. If you decide to live in your car, you can, the debt gets discharged.
From what I know about the US system it seems as if repayments just continue no matter what. Am I missing something? It seems like serfdom baked in to the education system.
- pitt1980 12y agothere are some debt replayment programs for low earners in the US as well, but student loan repayment will be a serious drag on any attempt to build wealth for most people who take out loans I'm of the opinion that most people don't have a good grasp on what the marginal difference in outcome needs to be to justify taking on student debt