MrPin Posted April 28, 2016 Share Posted April 28, 2016 Knowing things should be cheaper now we have the Internet, which knows everything. Quote Link to comment Share on other sites More sharing options...
winkie Posted April 28, 2016 Share Posted April 28, 2016 Because a whole economy of BTL, academics and support staff has been spawned. Think of GDP man. But it rather suits the masses imo.........their kids can go off on a Brideshead revisited fantasy rite of passage once the preserve of teddy bear carrying toffs. and the best thing is it is buy now, pay later. That is sure to appeal. The needs of the people keep thousands of people employed.....who creates the needs? The people who get paid to fix problems that normally wouldn't arise unless the people themselves created the problems,and hoops that require payment to pass on to the next hurdle. Quote Link to comment Share on other sites More sharing options...
Saving For a Space Ship Posted April 28, 2016 Share Posted April 28, 2016 (edited) Coincidentally I was discussing this with a colleague yesterday. Her daughter was thinking of doing a three year degree (in dance!) Looked at tuition costs (£9k) and then maintenance loan (£8,200) and she would leave with a debt of £51,600 after three years. Add on that if she doesn't go to Uni she could earn about £15k per annum, the qualification (assuming she passes) will have cost her over £96,000. I don't think she is going. For whom the school bell tolls ... Edited April 28, 2016 by Saving For a Space Ship Quote Link to comment Share on other sites More sharing options...
winkie Posted April 28, 2016 Share Posted April 28, 2016 (edited) Knowing things should be cheaper now we have the Internet, which knows everything. Tell. Explain. Describe. Edited April 28, 2016 by winkie Quote Link to comment Share on other sites More sharing options...
crashmonitor Posted April 28, 2016 Share Posted April 28, 2016 (edited) And will probably cost the country more in the long run as the vast majority of students won't pay off the debt. I fear we have brought forward a lot of GDP by this new University economy that may lead nowhere other than to the debt house. I sometimes try and figure out what we actually do in this country of any real product and I struggle. Still as long as we can keep selling off chunks of London to foreigners that do produce stuff i guess all is good and balanced for now. Edited April 28, 2016 by crashmonitor Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted April 28, 2016 Author Share Posted April 28, 2016 Crazy debt which will drag on the economy profit the bankers for decades. Quote Link to comment Share on other sites More sharing options...
spyguy Posted April 28, 2016 Share Posted April 28, 2016 Coincidentally I was discussing this with a colleague yesterday. Her daughter was thinking of doing a three year degree (in dance!) Looked at tuition costs (£9k) and then maintenance loan (£8,200) and she would leave with a debt of £51,600 after three years. Add on that if she doesn't go to Uni she could earn about £15k per annum, the qualification (assuming she passes) will have cost her over £96,000. I don't think she is going. Must dancers are crocked by their mid 30s. Better off being a pole dancer. Quote Link to comment Share on other sites More sharing options...
crashmonitor Posted April 28, 2016 Share Posted April 28, 2016 (edited) Must dancers are crocked by their mid 30s. Better off being a pole dancer. Unbelievable a degree in dance.........the very high arts have about one vacancy for every one hundred would be dancers and they will picked from the Royal Academy not some bog standard University. And to top it all off the would be dancer will probably justify the course and £44,000 as being very applicable to being an Amazon drone. Edited April 28, 2016 by crashmonitor Quote Link to comment Share on other sites More sharing options...
19 year mortgage 8itch Posted April 28, 2016 Share Posted April 28, 2016 Must dancers are crocked by their mid 30s. Better off being a pole dancer. Where you can stretch your career out to your 50s... Quote Link to comment Share on other sites More sharing options...
VeryMeanReversion Posted April 28, 2016 Share Posted April 28, 2016 Coincidentally I was discussing this with a colleague yesterday. Her daughter was thinking of doing a three year degree (in dance!) Looked at tuition costs (£9k) and then maintenance loan (£8,200) and she would leave with a debt of £51,600 after three years. Add on that if she doesn't go to Uni she could earn about £15k per annum, the qualification (assuming she passes) will have cost her over £96,000. I don't think she is going. On the bright side (!), her earnings will never be high enough to pay anything back (under current rules). My sister in law has just done a Masters in Drama the age of 50. She has never earned enough to qualify for repayments, it was just a way to get someone else (the taxpayer) to pay for her living costs for a couple of years. My employer pays for uni fees for anyone that wants to do it in their spare time (relevant courses only). I'd advise my son to work here for a few days a week, then do an open university degree for the other days. It may take 5 years but he would be getting course fees paid, wages,experience with no rent to pay and no debts. The employer can deduct the expenses, the employer cant ever claim back his degree costs against income tax. Quote Link to comment Share on other sites More sharing options...
spyguy Posted April 28, 2016 Share Posted April 28, 2016 (edited) Where you can stretch your career out to your 50s... Not really. If you're going to be crocked by 35 then its best to start earning at 18. Edited April 28, 2016 by spyguy Quote Link to comment Share on other sites More sharing options...
janch Posted April 28, 2016 Share Posted April 28, 2016 I used to leave off half my qualifications when applying for jobs as I found most places were wary if you were brighter than the boss. I was way over qualified for everything I ended up doing but I just needed an income with 3 kids to support. My mistake was not having established a "career" before having kids and taking time off when they were young. A degree or higher was actually a hindrance to getting most of the jobs I applied for Quote Link to comment Share on other sites More sharing options...
Trampa501 Posted April 28, 2016 Share Posted April 28, 2016 Why the USA? Why not try one of the excellent European universities? At least that way you get to experience a different culture/way of life and learn a new language. For some time I've wondered why more students didn't follow this route. The reason was pointed out to me by a parent - the student would still have to find rent and living expenses. Ok, that's lower almost everywhere else compared to here. But they wouldn't be able to take out a students' loan to pay for it, and if they don't get high paid work there isn't the compulsion to pay off the students' loan. Quote Link to comment Share on other sites More sharing options...
porca misèria Posted April 28, 2016 Share Posted April 28, 2016 (edited) Anyone have family members who are current students and recent grads? I do (my oldest nephew recently graduated, his brother is a current student, their sister starts in a few months), and the combination of grants, scholarships and bursaries mean that in real life they are a very long way from this worst-case scenario. [edit to add] I don't want to defend the current system: it's horrible. But the spin isn't right either. Edited April 28, 2016 by porca misèria Quote Link to comment Share on other sites More sharing options...
CunningPlan Posted April 28, 2016 Share Posted April 28, 2016 For some time I've wondered why more students didn't follow this route. The reason was pointed out to me by a parent - the student would still have to find rent and living expenses. Ok, that's lower almost everywhere else compared to here. But they wouldn't be able to take out a students' loan to pay for it, and if they don't get high paid work there isn't the compulsion to pay off the students' loan. Maybe. The cost of a Div I university is about $35k p.a. This includes everything - course, accommodation, books, food etc. If out are half bright (i.e. can score 1250+ on the SAT test) you will get a $10k academic scholarship. So you are already down to the same price as a UK course except you cannot borrow the money from the Gov't. Perhaps they should persuade their parents to MEW to fund them. My son will also receive 50% athletic scholarship in the first year, and hopefully 75% in future years. Therefore his cost will be $7,500 per year at most. Div II and lower will be cheaper. Quote Link to comment Share on other sites More sharing options...
Wurzel Of Highbridge Posted April 28, 2016 Share Posted April 28, 2016 If you already have a degree, you will be paying back the loan for the rest of your life. I would encourage such people to take out even more student loans since the y will never pay it back. In the last Autumn statement U-turn Dave fiddled with the rules for funding adding: If you already hold an Honours degree or higher level of qualification and start a part-time Honours degree in engineering, technology or computer science (or a joint Honours in 2 of these subjects) [then you can get more student loans] It's a get-out-of jail card for the Open University to providing them with funding form students via loans. Quote Link to comment Share on other sites More sharing options...
Wurzel Of Highbridge Posted April 28, 2016 Share Posted April 28, 2016 More info on this: http://www.practitioners.slc.co.uk/media/1212/student_support_information_note_15_16_pt_elq_exceptions_january_2015_final.pdf Basically if you went to uni and got a crap expensive degree you can study part time in engineering essentially for free since your never going to pay the loan back. I have been thinking of doing a second degree for the fun of it via the OU. Why not? Quote Link to comment Share on other sites More sharing options...
zugzwang Posted April 28, 2016 Share Posted April 28, 2016 Where you can stretch your career out to your 50s... The Black Country Strip Bus. Quote Link to comment Share on other sites More sharing options...
winkie Posted April 28, 2016 Share Posted April 28, 2016 (edited) On the bright side (!), her earnings will never be high enough to pay anything back (under current rules). My sister in law has just done a Masters in Drama the age of 50. She has never earned enough to qualify for repayments, it was just a way to get someone else (the taxpayer) to pay for her living costs for a couple of years. My employer pays for uni fees for anyone that wants to do it in their spare time (relevant courses only). I'd advise my son to work here for a few days a week, then do an open university degree for the other days. It may take 5 years but he would be getting course fees paid, wages,experience with no rent to pay and no debts. The employer can deduct the expenses, the employer cant ever claim back his degree costs against income tax. This...^^^^^...they used to call it block release or day release or distance learning in own time, learning relevant studies that match to the job you are doing and get paid for doing....no debt only credit. Edited April 28, 2016 by winkie Quote Link to comment Share on other sites More sharing options...
spyguy Posted April 28, 2016 Share Posted April 28, 2016 If you already have a degree, you will be paying back the loan for the rest of your life. I would encourage such people to take out even more student loans since the y will never pay it back. In the last Autumn statement U-turn Dave fiddled with the rules for funding adding: It's a get-out-of jail card for the Open University to providing them with funding form students via loans. As I said earlier. Because lecturers and vice chancellors are worth it. Quote Link to comment Share on other sites More sharing options...
Craig_ Posted April 28, 2016 Share Posted April 28, 2016 Drop out students, and get bonged up! That is my advice. Was certainly my experience at uni. Left with a 2:2... Quote Link to comment Share on other sites More sharing options...
doomed Posted April 28, 2016 Share Posted April 28, 2016 Well lets be honest this can just be grouped with all the other debts floating about that haven't got a cat in hells chance of being repaid. When the panic sets in it will not be long before sterling and most other fiats turn to toilet paper. Don't panic last. Quote Link to comment Share on other sites More sharing options...
onlyme2 Posted April 28, 2016 Share Posted April 28, 2016 Lecturers on around £35-60k (Profs above that) after a shed load of prior study/training/work. Yes they're worth it. Debateable if the degrees they are dishing are not. More like a con on the young and naive. Quote Link to comment Share on other sites More sharing options...
winkie Posted April 28, 2016 Share Posted April 28, 2016 Well lets be honest this can just be grouped with all the other debts floating about that haven't got a cat in hells chance of being repaid. When the panic sets in it will not be long before sterling and most other fiats turn to toilet paper. Don't panic last. The reality is.....for very many people debt, where there is no known way or plan of repaying it, is paying their wages......pay now pray later. Quote Link to comment Share on other sites More sharing options...
juvenal Posted April 28, 2016 Share Posted April 28, 2016 And will probably cost the country more in the long run as the vast majority of students won't pay off the debt. A lot of EU students won't be paying any back.. http://www.dailymail.co.uk/news/article-3141810/Students-EU-studying-Britain-fail-repay-43million-tax-payer-funded-loans-untraceable.html Quote Link to comment Share on other sites More sharing options...
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