Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
Pot, Kettle etc
#1
Older voters have "comprehensively shafted the young",  Vince Cable has said

This from and old man who well and truly "shafted" the young by being part of a government and voting for the tripling of student fees. Whatever happens post leaving the E.U. is, as is evidenced by this bored, debateable, leaving further education with a £50,000 plus debt is a crushing fact.
Reply
#2
I agree. Education is a right, not a privilege.
Reply
#3
It doesn't act as a debt though, so long as that remains the case things are fine. When the repayment terms change people can be angry.
Reply
#4
Those who can't work out why "student debt" is not debt have no business going to University in the first place.
Reply
#5
If it is not a debt, how come my daughter' s potential mortgage providers ask her for her monthly repayment figure when deciding her ability to repay a mortgage?
Reply
#6
(08-06-2017, 12:15 PM)John Osbourne Wrote: If it is not a debt, how come my daughter' s potential mortgage providers ask her for her monthly repayment figure when deciding her ability to repay a mortgage?

You mean the affordability check to see what your real take home figure is to determine your ability to pay it back? This is used in conjunction with other taxes and bills which also aren't loans to see what your available income is. It doesn't show up on your credit which is the key factor, therefore it doesn't effect you in terms of likeliness to pay back.
Reply
#7
(08-06-2017, 12:15 PM)John Osbourne Wrote: If it is not a debt, how come my daughter' s potential mortgage providers ask her for her monthly repayment figure when deciding her ability to repay a mortgage?

They probably also ask her how much she spends on food and going out, but that isn't debt either.
Reply
#8
(08-06-2017, 12:25 PM)BoringBaggie Wrote:
(08-06-2017, 12:15 PM)John Osbourne Wrote: If it is not a debt, how come my daughter' s potential mortgage providers ask her for her monthly repayment figure when deciding her ability to repay a mortgage?

You mean the affordability check to see what your real take home figure is to determine your ability to pay it back? This is used in conjunction with other taxes and bills which also aren't loans to see what your available income is. It doesn't show up on your credit which is the key factor, therefore it doesn't effect you in terms of likeliness to pay back.

So, are you saying that having an extra £80 odd quid per month eating away at your disposable income  didn't influence the offers they we given?
Reply
#9
(08-06-2017, 06:48 PM)John Osbourne Wrote:
(08-06-2017, 12:25 PM)BoringBaggie Wrote:
(08-06-2017, 12:15 PM)John Osbourne Wrote: If it is not a debt, how come my daughter' s potential mortgage providers ask her for her monthly repayment figure when deciding her ability to repay a mortgage?

You mean the affordability check to see what your real take home figure is to determine your ability to pay it back? This is used in conjunction with other taxes and bills which also aren't loans to see what your available income is. It doesn't show up on your credit which is the key factor, therefore it doesn't effect you in terms of likeliness to pay back.

So, are you saying that having an extra £80 odd quid per month eating away at your disposable income  didn't influence the offers they we given?

No, I am not saying that at all. In fact, I said the complete opposite. I am saying that student loan repayments factor into your daughter's mortgage application as any other expense that is not a debt. It's purely a means to determine how much you are able to pay back based on your disposable income, much the same as any tax contributions, bills, insurance payments and other expenses. Just because you have taken a student loan of £40k, doesn't mean that you have a £40k debt, any repayments are taken from your payslip by HMRC like a tax, you don't get angry bailiffs coming to your house if you miss a repayment, you don't start paying it back until you reach a certain point in the repayment threshold based on your income like tax brackets and repayments are as a percentage and not a fixed sum repayment. They don't contribute to credit and you don't pay a penny after 30 years as it's written off.

The favourable terms of repayment, as negotiated by the Lib Dems might I add to counter the way the Tories wanted it on top of introducing grants for the less well off (which the Tories removed as soon as the Lib Dems were gone from government), lay it out as if you aren't benefiting you don't pay it back until you are. And those that benefit a lot pay back more. It's like another tax spread on the people who go to university so only those who use it pay for it instead of getting those who didn't go to also pay for it. It is nothing like the loans system in the US or the private student loans system here where it is factored into credit and you do have to pay it back no matter what you earn or you default. As someone currently in the £9,250 loans system I am glad it is like this.

As for whether or not we should have a student loans now due to the necessity of having a degree to go into professions that have used to only need GCSE's and O-Levels, that is another story entirely.
Reply
#10
The key duties of a government to me are to protect (in its broadest sense) and educate its citizens.
Reply


Forum Jump:


Users browsing this thread: 1 Guest(s)