University Fees Have Increased Again

[FrazerLloyd]

So, remember a week or so ago when Maggie said she wanted poor kids to have the same opportunities as rich kids? Well, as many suspected, that was bullshit.

University fees have now risen to £9,250/year and students already at university will also be charged this increase.

 

[Alty]

Who's Maggie?

The reason fees have to be charged is we encourage far too many people to go to university.

It's also worth noting that the Labour Government is the one that let the 'top up' tuition fees genie out of the bottle.

 

[Freakyteeth]

In line with inflation. £250 is a little bit too much of a nice round number though.

 

[FrazerLloyd]

The reason fees have to be charged is we encourage far too many people to go to university.

Surely you want to encourage people to go to university?

 

[Freakyteeth]

You do. If they're doing STEM subjects.

 

[Gladders]

Surely you want to encourage people to go to university?

If too many people go to Uni then degrees become worthless, which most of them already are anyway.

 

[MJA]

I've worked alongside multiple people who have degrees and have ended up doing the same job and earning the same wage as me, with me being a 6th form dropout.

Sent from my SM-G930F using Tapatalk

 

[Renegade]

If too many people go to Uni then degrees become worthless, which most of them already are anyway.

Absolutely. There are a handful of degrees that are necessary, the other fields could be filled with apprenticeships. Increased numbers in degrees are great for government statistics, but it dilutes the quality of the degree. It used to be an accomplishment to have one, now it is pretty much the norm. If I could go back, I never would have bothered with it, it's a scam. It does give you the opportunity to work at a small percentage of your potential for a few years and have fun instead, I'm glad I finished before the prices were hiked.

 

[Cheese & Biscuits]

I don't agree that university education should be free but almost £10k a year is far too much. It's also pretty stupid as so many of the loans that get issued are written off as the person can't repay it within the needed timescale. It seems a pointless exercise.

I came out of uni with about £14k of debt and was fortunate to have it paid off about 3 years ago. I dread to think how many current students will ever pay theirs off.

 

[T.A]

I wonder what percentage of people never pay off their student loan? I bet it's a high figure.

 

[Cheese & Biscuits]

I wonder what percentage of people never pay off their student loan? I bet it's a high figure.

At a guess, I'd say around a quarter to a third pay theirs off fully.

I've just had a quick look and according to GOV.UK, you'll pay back £30 a month if you're earning £25k. Based on a £30k loan and a minimum of 3% interest, you'll only pay back 40% of the interest in that year. Scary numbers given £25k is around the mean salary (I think).

Glad I'm an old bastard now...

 

[Pilgrim Meister]

There are a lot of Graduates doing minimum wage retail work often on Part Time or zero hour contracts, in many cases for many years after finishing university.

It makes no sense shipping everyone off to University, and saddling them with debt with no means to pay it back.

I suspect sooner rather than later that student loan lenders will look for guarantors on these loans, in the fear of not getting their money back

 

[Cheese & Biscuits]

I suspect sooner rather than later that student loan lenders will look for guarantors on these loans, in the fear of not getting their money back

It's all done through the Student Loans Company which is owned by the government.

For the life of me I can't visualise how the whole thing works though. It seems like a giant Ponzi scheme where the new loans are paid for by the repayments of existing loans but it all seems a little pointless.

 

[AFCB_Mark]

Anecdotal evidence to me suggests that a significant portion hasn't and perhaps never will be paid back, it does expire after all. And what is paid back does not go back to the government, it goes straight back out to another student.

In turn it's allowed every university in the country to improve and refresh their campus with new buildings and facilities.

In a roundabout way, it's become a state sponsored building program for our universities. Using students as middle men!

 

[Abertawe]

It's also worth noting that the Labour Government is the one that let the 'top up' tuition fees genie out of the bottle.

New Labour, important distinction.

Education is now a money making enterprise.

 

[Pilgrim Meister]

Anecdotal evidence to me suggests that a significant portion hasn't and perhaps never will be paid back, it does expire after all. And what is paid back does not go back to the government, it goes straight back out to another student.

In turn it's allowed every university in the country to improve and refresh their campus with new buildings and facilities.

In a roundabout way, it's become a state sponsored building program for our universities. Using students as middle men!

How long will it go on for though. Eventually the money will run out, or the government can only offer a smaller loan for a % of the tuition fee's, unless guarantor'd.

I suspect a system where loans are only offered for certain courses where the skills are needed. E.g. Loans covered 100% of fee's for the medical courses etc, but only 30% for degree's where there is no demand for those skills.