Unless you’re becoming a solicitor or a consultant surgeon, you’re not paying the loan off anyway. Just look at it as a tax.
pubemaster_uno on
Because universities are now businesses and profit centres. Raising fees is one way to maximise their income.
The other is to invent BS degrees that appeal to people’s hobbies, but offer no career value add or return on investment. “Come and spend 3 years studying contemporary circus and performance!” Going to appeal to a lot of kids, sadly.
KindAir5736 on
I was in the last intake that got it free, Class of 94!
kabicola on
it’s honestly getting a little harder to be motivated for higher education when it feels like the costs are becoming even more out of reach for the everyday person.
CR4ZYKUNT on
It means they have to pay more to eventually get a job in McDonald’s
neurospicy1991 on
Not just that – but the t&c’s can be changed retrospectively through parliament – so technically (although highly unlikely) they could change it so that you start paying at minimum wage or something worse! So you are at the mercy of the whim of the ruling party and economic conditions of the time (like frozen thresholds previously implemented).
dominion_is_great on
This makes 0 difference to most people.
You go to university. You take out a loan. That loan could be £45,000 or £1,000,000. Either way, you pay the same amount back each month depending on your income, and then after 30 years the loan is cancelled.
The only people this affects is the really high earners, who probably wouldn’t be high earners without their degrees.
I wish people understood this. I see too many people decide not to go to university because they don’t want to take out a big loan. If that’s the only reason you’re not going, you don’t have a reason.
KingoftheOrdovices95 on
I went to university and studied history. I enjoyed it because I like history and student life was decent, tbf. However, the degree got me nowhere, and I ended up earning an above average income in a career that didn’t require a degree anyway. If I had my time again, I wouldn’t have bothered with it. Especially with the deductions from my wage each month, and the fact that the interest rates mean I’ll never pay it off.
Dramatic-Panda8012 on
but who is going to pay it back? 😅 without at least 60k wage ill open my own business and just dodge it😃
SirSailor on
It doesn’t matter unless you are going to be extremely well off after education (over 100k a year income).
Anyone who thinks the cost of classes for British students matters needs a better education.
Maintenance loans and grants and how they are linked to parent income wether or not parents can spare money.
wasnt_sure20 on
What is the point sure you can’t get a job with a degree now anyway. Too many people have them.
prezzie2728 on
the tuition fee change is so minimal to the overall cost, the 2024 repayment change costs so much much more
DaveN202 on
Because it’s tax for middle class and working class people but appears in the form of a loan so nobody gets pissed off at it? Why wouldn’t they raise it? We need the money.
vrekais on
The tuition figure barely has an impact on what most students pay now. The current loan plan (5) reduced the income threshold from 32k of Plan 4 to 25k and extended the write off period to 40 years. If you can’t afford to pay it off early graduates on this plan will pay more than any previous cohort ever has, to the tune of 1000s more than someone on the Plan 1 loan I had but the Universities don’t see any of that money.
fully_jewish on
They are increasing for the same reason council tax and every other fee is increasing. Money printing.
woahimtrippingdude on
Don’t forget that the people making the decisions here went to university for 3/4k a year, if they paid at all.
ohnoohno69 on
Starrmer really is Tony Blair part 2 new, new labour boogaloo. Can’t wait for the insane pointless war part.
wkavinsky on
£45k in loans to do a basic degree now.
That’s more than it would cost to do a 4 year degree in some top US universities – and we’ve long derided them for how expensive their education is.
To put that in perspective, I earn north of £90k a year, and that’s (excluding the growth through the punitive interest) 9 years of my student loan contributions.
Rip off Britain continues – and 25 years ago, with far less people in the tax base, we could afford no fees, and a non-repayable grant for living expenses.
lukethenukeshaw on
Id like a more free market approach to student loans. If you do something very theoretical with no practical use then the degree should cost low but come with a high interest rate. If you do chemistry then it should cost more but have a lower interest rate. But also maybe we shouldn’t pay for degrees that statistical won’t increase someone’s lifetime income compared to if they didn’t do the degree. Definitely needs a rethink like everything else in this country
Panda_hat on
In it’s current form University is a scam to exploit young peoples hopes and aspirations and tie them down with decades of debt.
I would struggle to recommend it to anyone as it stands. You would be far better off trying to get into a company that might pay for you to do a part time degree as part of your employment and advancement.
Ryohiko on
Does this actually make a difference to most people? I feel like it’s just imaginary money no one ever pays back. No clue how much mine is but add another 10k to mine and I wouldn’t blink.
21 commenti
I don’t know why people care about this.
Unless you’re becoming a solicitor or a consultant surgeon, you’re not paying the loan off anyway. Just look at it as a tax.
Because universities are now businesses and profit centres. Raising fees is one way to maximise their income.
The other is to invent BS degrees that appeal to people’s hobbies, but offer no career value add or return on investment. “Come and spend 3 years studying contemporary circus and performance!” Going to appeal to a lot of kids, sadly.
I was in the last intake that got it free, Class of 94!
it’s honestly getting a little harder to be motivated for higher education when it feels like the costs are becoming even more out of reach for the everyday person.
It means they have to pay more to eventually get a job in McDonald’s
Not just that – but the t&c’s can be changed retrospectively through parliament – so technically (although highly unlikely) they could change it so that you start paying at minimum wage or something worse! So you are at the mercy of the whim of the ruling party and economic conditions of the time (like frozen thresholds previously implemented).
This makes 0 difference to most people.
You go to university. You take out a loan. That loan could be £45,000 or £1,000,000. Either way, you pay the same amount back each month depending on your income, and then after 30 years the loan is cancelled.
The only people this affects is the really high earners, who probably wouldn’t be high earners without their degrees.
I wish people understood this. I see too many people decide not to go to university because they don’t want to take out a big loan. If that’s the only reason you’re not going, you don’t have a reason.
I went to university and studied history. I enjoyed it because I like history and student life was decent, tbf. However, the degree got me nowhere, and I ended up earning an above average income in a career that didn’t require a degree anyway. If I had my time again, I wouldn’t have bothered with it. Especially with the deductions from my wage each month, and the fact that the interest rates mean I’ll never pay it off.
but who is going to pay it back? 😅 without at least 60k wage ill open my own business and just dodge it😃
It doesn’t matter unless you are going to be extremely well off after education (over 100k a year income).
Anyone who thinks the cost of classes for British students matters needs a better education.
Maintenance loans and grants and how they are linked to parent income wether or not parents can spare money.
What is the point sure you can’t get a job with a degree now anyway. Too many people have them.
the tuition fee change is so minimal to the overall cost, the 2024 repayment change costs so much much more
Because it’s tax for middle class and working class people but appears in the form of a loan so nobody gets pissed off at it? Why wouldn’t they raise it? We need the money.
The tuition figure barely has an impact on what most students pay now. The current loan plan (5) reduced the income threshold from 32k of Plan 4 to 25k and extended the write off period to 40 years. If you can’t afford to pay it off early graduates on this plan will pay more than any previous cohort ever has, to the tune of 1000s more than someone on the Plan 1 loan I had but the Universities don’t see any of that money.
They are increasing for the same reason council tax and every other fee is increasing. Money printing.
Don’t forget that the people making the decisions here went to university for 3/4k a year, if they paid at all.
Starrmer really is Tony Blair part 2 new, new labour boogaloo. Can’t wait for the insane pointless war part.
£45k in loans to do a basic degree now.
That’s more than it would cost to do a 4 year degree in some top US universities – and we’ve long derided them for how expensive their education is.
To put that in perspective, I earn north of £90k a year, and that’s (excluding the growth through the punitive interest) 9 years of my student loan contributions.
Rip off Britain continues – and 25 years ago, with far less people in the tax base, we could afford no fees, and a non-repayable grant for living expenses.
Id like a more free market approach to student loans. If you do something very theoretical with no practical use then the degree should cost low but come with a high interest rate. If you do chemistry then it should cost more but have a lower interest rate. But also maybe we shouldn’t pay for degrees that statistical won’t increase someone’s lifetime income compared to if they didn’t do the degree. Definitely needs a rethink like everything else in this country
In it’s current form University is a scam to exploit young peoples hopes and aspirations and tie them down with decades of debt.
I would struggle to recommend it to anyone as it stands. You would be far better off trying to get into a company that might pay for you to do a part time degree as part of your employment and advancement.
Does this actually make a difference to most people? I feel like it’s just imaginary money no one ever pays back. No clue how much mine is but add another 10k to mine and I wouldn’t blink.