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Random Outburst: This JOKE of a country

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GrandOldTeam said:
Bruce I suspect your opinions on the matter are out dated.

£50 a month interest, on top of the £3140 tuition fee per year.... No one pays anything other than myself for my education. In fact, the government profit in that I am paying 4.80% interest.

It was only a few years ago Labour introduced £3000+ tuition fees per year, so adding at least £9,000 to the average degree. To then double the interest on loans is ridiculous. The government are exploiting students too much.
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Danny, surely your 4.8% interest covers at best inflation. You're effectively receiving an interest free loan. Okay, now I believe in free education, and higher rates of tax for high earners. So being a criminology student you'd be getting a free education in my government (assuming Bruce okays it as Chancellor :lol:). If you were studying "surf technology" or something like that, I might not be so generous.
 
GrandOldTeam said:
End of argument really there mate.

What was funny about my post?

Not sure what your getting at either? Whats America got to do with anything?
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sorry i was reading your post in the context of your original comment about [Poor language removed] off to America. i thought you were implying that the american system was better in some way, which it isn't.

and i gave you both extremes in my post, the most expensive of options and one of the cheaper ones. both are higher than your option. but if it wasn't your intention to compare the two country's educational systems, then thats my mistake.
 
GrandOldTeam said:
When I mentioned America, I meant for a career (y)

After paying over £3000 a year in tuition fees alone, the government then lend me money to fund my education... with a 4.80% interest rate.

No one informed me that I would never be able to pay these loans off because of the interest rate alone.
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ah alright I misunderstood then. though i should warn, if you planned on going into investment banking or working on wallstreet, things aren't going to well on that front:P
 
Nebbiolo said:
Danny, surely your 4.8% interest covers at best inflation. You're effectively receiving an interest free loan. Okay, now I believe in free education, and higher rates of tax for high earners. So being a criminology student you'd be getting a free education in my government (assuming Bruce okays it as Chancellor :lol:). If you were studying "surf technology" or something like that, I might not be so generous.
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Interest free loan? £50 a month isn't interest free (y)

toffeestillidie said:
sorry i was reading your post in the context of your original comment about [Poor language removed] off to America. i thought you were implying that the american system was better in some way, which it isn't.

and i gave you both extremes in my post, the most expensive of options and one of the cheaper ones. both are higher than your option. but if it wasn't your intention to compare the two country's educational systems, then thats my mistake.
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If I was in America, I would be complaining a lot more (y):lol:
 

GrandOldTeam said:
Interest free loan? £50 a month isn't interest free (y)



If I was in America, I would be complaining a lot more (y):lol:
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haha figures. though i'm curious, how easy is it to get merit-based scholarships in the UK. because i do believe that is one of the best things about the american system, i would guess that it is easier to get a scholarship based on acheivment here (which is the only reason i'm at my current school)
 
GrandOldTeam said:
Interest free loan? £50 a month isn't interest free (y)



If I was in America, I would be complaining a lot more (y):lol:
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I mean interest free taking into account inflation, which is probably near to the 4.8% rate that you state. Plus, you'll only begin to pay back the money when you cross over a certain threshold.

But I agree that your education should be free. But I'd tax you quite harshly after you hit the £40k a year mark.
 
it's a buy product of unemployment and lack of jobs for school-leavers. i left at 16, never intended going to uni, only 2 of us in our class didnt go to uni, but the rest of our year left at 16.

loads more now go, so the gov. saw it as a way of getting cash. education was free, in fact you could get a grant, if i'd gone at the end of my apprenticeship i wouldve been better off financially than working cos at 21 you got a full grant and housing benefit to pay the rent (mature student).

if there were jobs at 16 or 18 and apprenticeships then it may still have been free. some of the things people end up doing after uni dont particularly need a degree, training in the workplace could teach necessary skills, and you would be earning and the gov would probably be making more from you as well via tax.
 
toffeestillidie said:
haha figures. though i'm curious, how easy is it to get merit-based scholarships in the UK. because i do believe that is one of the best things about the american system, i would guess that it is easier to get a scholarship based on acheivment here (which is the only reason i'm at my current school)
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You high achiever you :lol:
 

Nebbiolo said:
But I agree that your education should be free. But I'd tax you quite harshly after you hit the £40k a year mark.
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Yeah spot on. Thats how it should be. More you earn, the more you are taxed. I have no issue with that, exploiting students with 4.80% rates though is ridiculous. Its no wonder our rate of growth in graduates looks tortoise-like compared to other countries. In 2000 the UK was fourth amongst industrialised countries. Now we are 12th, after the likes of Australia, Denmark, Finland, Iceland, Ireland, Italy, the Netherlands, New Zealand, Norway, Poland, and Sweden and I guarentee we will fall a lot lower.

Nebbiolo said:
I mean interest free taking into account inflation, which is probably near to the 4.8% rate that you state. Plus, you'll only begin to pay back the money when you cross over a certain threshold.
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Pay back 9% I think once earning over £15,000....

At 4.80% though (at least £50 a month in interest to average graduate), work out how much a graduate would have to earn to be actually paying off their debt after interest (y)
 

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