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The Spaniard

Conversation with Bristol Students

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Yesterday, while queuing at a supermarket, I had a brief conversation with a couple of Bristol University students.

They were occupants of a seven bedroom HMO, a private rental house for students, so exempt from council tax.

They each had their own room at £120 per week excluding utility bills, and were obliged to pay for 52 weeks, June to June, so £6,240 p.a.

They were each paying £9,000 p.a. tuition fees and reckoned they were running up total debts of about £25,000 p.a., so £75,000 for a three year degree course.

At RPI plus 3% p.a. they will be paying (out of their take home pay) about £4,500 p.a. in interest alone as soon as they earn over £21,000 p.a.

After graduation they will still need somewhere to live, unless they return to their parental home.

I feel for them, their future is bleak indeed.

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20 hours ago, The Spaniard said:

Yesterday, while queuing at a supermarket, I had a brief conversation with a couple of Bristol University students.

They were occupants of a seven bedroom HMO, a private rental house for students, so exempt from council tax.

They each had their own room at £120 per week excluding utility bills, and were obliged to pay for 52 weeks, June to June, so £6,240 p.a.

They were each paying £9,000 p.a. tuition fees and reckoned they were running up total debts of about £25,000 p.a., so £75,000 for a three year degree course.

At RPI plus 3% p.a. they will be paying (out of their take home pay) about £4,500 p.a. in interest alone as soon as they earn over £21,000 p.a.

After graduation they will still need somewhere to live, unless they return to their parental home.

I feel for them, their future is bleak indeed.

Very depressing, the Tories should hang their heads in shame.

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5 minutes ago, Freezer? Best place for it said:

TheTories should be hung, they have destroyed several generations.

The real problem is not Tories as such but that for some reason our fellow citizens keep voting for them.

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1 hour ago, dougless said:

The real problem is not Tories as such but that for some reason our fellow citizens keep voting for them.

Maybe because the alternative is even worse?  Not saying that the Tories are good.

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1 hour ago, dougless said:

The real problem is not Tories as such but that for some reason our fellow citizens keep voting for them.

People are unfortunately taken in by their shyte, but it is as healthy as reaching into a fire.  I was taken in until my early 30’s - now anyone other than the Tories or Nu-Labour (they are identical).

 

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8 minutes ago, Freezer? Best place for it said:

People are unfortunately taken in by their shyte, but it is as healthy as reaching into a fire.  I was taken in until my early 30’s - now anyone other than the Tories or Nu-Labour (they are identical).

 

I am with you on this.

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51 minutes ago, dougless said:

I am with you on this.

I don’t know who to vote for anymore, naturally fall to the right of centre - believe in self sufficiency and low levels of state interference.  The Tories of 30 years ago.  I won’t vote for Corbyn et al as I don’t trust them on immigration.  I now vote for small parties who I know won’t win.

I think that further education should be paid for by the state, problem is, it’s unsustainable when almost 50% of 18 year olds are going - all because universities are a cash cow now and they need to make a profit before anything else.

The future does look bleak for these kids.  

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I used to be a Labour party member and a shop steward.  Now I will vote for anyone other than a man whop has been arrested on pro IRA marches and has laid flowers on the grave of a Palestinian terrorists and who has as home secretary a woman who said the only problem with Britain is it has white people in it 

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16 hours ago, Mancunian284 said:

http://www.dailymail.co.uk/news/article-5643053/Shock-figures-half-graduates-worst-universities-arent-repaying-loans.html

Universities like this are a disgrace.  I was shocked by this, not because their graduates aren’t paying back their loans, but because it shows what a scam some degrees at some universities are.

95% of unis are vast Ponzi schemes.  They exist to make a profit and to keep useless lecturers who could not last 5 minutes in the real commercial world.  They know they degrees that they are teaching are worthless in the job market.  

Equally kids should be more aware that a degree in sociology of sports science is worthless in the job market.

My son is a gas engineer last year he earned £78,000.  Many of his mates have a degree and are working in a shop.  

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39 minutes ago, Freezer? Best place for it said:

But he has cheeryTroll-like you as a Father.  You win some, loose some.

No I am cheery because my kids did not waste time and money getting a 50k debt for a degree which is worthless. Anyone who says something you do not like is a troll - childish and sad - zzzzzzzzzzzzzzzzzzzzzzzzzzzzz 

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10 hours ago, happyguy said:

My son is a gas engineer last year he earned £78,000.

Credit for having a job and being a wealth creating part of the economy.

Young people can be clueless without good direction. Many degrees are conning them.

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10 hours ago, happyguy said:

Palestinian terrorists.

Try Saudi Arabia bombing Yemen or US toxic fire pits in Iraq and Afghanistan.

or if you want......where the nazis purchased the fuel from for the Luftwaffe, that’s probably a bit much though. Yikes.

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On 4/22/2018 at 12:23 PM, The Spaniard said:

Yesterday, while queuing at a supermarket, I had a brief conversation with a couple of Bristol University students.

They were occupants of a seven bedroom HMO, a private rental house for students, so exempt from council tax.

They each had their own room at £120 per week excluding utility bills, and were obliged to pay for 52 weeks, June to June, so £6,240 p.a.

They were each paying £9,000 p.a. tuition fees and reckoned they were running up total debts of about £25,000 p.a., so £75,000 for a three year degree course.

At RPI plus 3% p.a. they will be paying (out of their take home pay) about £4,500 p.a. in interest alone as soon as they earn over £21,000 p.a.

After graduation they will still need somewhere to live, unless they return to their parental home.

I feel for them, their future is bleak indeed.

A couple of thoughts. £120 a week is a fortune for a student. I tried looking at potential universities with a younger relative - there seems little information about relative costs of different locations. Even on The Student Room there is little comparison of living costs.

The repayments are for earnings over the lower limit (£21k rising to £25k shortly) - so won't pay £4,500 pa until they earn something around £70k. However there seems to be a huge number going onto masters degrees which cost another 6% of income over a lower level. Add that to 9% of salary for undergrad we've managed to add 15% to income tax rates. Get your first managerial job - pay 55% marginal tax! This is socialism through the back door.

I wonder about the effects of this. It doesn't seem worth sweating for a promotion or taking a worse commute for a better job on those tax rates. 

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On 4/24/2018 at 9:59 AM, happyguy said:

95% of unis are vast Ponzi schemes.  They exist to make a profit and to keep useless lecturers who could not last 5 minutes in the real commercial world.  They know they degrees that they are teaching are worthless in the job market.  

Equally kids should be more aware that a degree in sociology of sports science is worthless in the job market.

My son is a gas engineer last year he earned £78,000.  Many of his mates have a degree and are working in a shop.  

The profession of gas engineer is a bit a cliche when talking about jobs that you can do without a degree isn't it? A cliche that one could lazily use when creating an image for a fictionalised person who did not go to university. So it's interesting to hear some good anecdotal experience. Certainly seems to pay well.

Edited by btl_hater

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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