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Guest vicmac64

From Birth To Death!

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Guest vicmac64

Is this not right ? They enslave our students in debt - this is their system. It should not be ours in the UK we should be different.

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I have/had a small student loan and have realised that I have been overpaying (£500 and counting)

I rang the Student Loan Company yesterday to sort this out, was left in a queue for 20 minutes and had to eventually hang up to get on with my job.

Hopefully I can get it sorted out but surely its not difficult to get a piece of software that stops payments when the total is paid off?!?

Edited by Starcrossed

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The idea behind student debt is to get you into system at an earlier stage than used to be the case. Current capitalistic thinking as expoused by the many right wing think tanks is along the lines of 'human ownership' which of course has more appeal to the mega rich than just money and purchasing power. When you are in debt, you are susceptable to control by your employer and the government (cant afford to strike or lose your job). Getting you roped in at an early age also stops you accidently wandering up the track of indepenent thinking, eg alternative lifestyles etc. Ultimatly its not about covering the cost of your education, that could be done in many ways, its all about getting you on the perma-hook. (a bit like drug dealers being allowed in the playground)

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this is a simplistic story to prove a point, but given that is what it is trying to do I don't think it works. The banker, in order to survive, would have to buy products from the 5 original men. To buy things he would be giving money to each one. Each man would therefore increase their individual wealth and have the ability to pay back the banker part of his $200...that means the next year interest would be lower and they could pay back more to the banker. And so on until eventually the debt is paid off.

They could, also, charge the banker whatever they wanted for their products, what good is a stash of gold if you are starving to death? A bit like when there is a hurricane threat in certain parts of the world, people don't rush to the bank and withdraw their money, they stock up on bottled water and tinned food.

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V true - You might actually have the time and energy to CHALLENGE the status quo if you're not enslaved - spending all your waking hours in McJobs paying back your debt.

Many of us are utterly fed up with the brand of capitalism that's been imposed on us and yes, that includes those of us slogging away running businesses - those who have well and truly bought into the system (or so the government thinks ;-)).

G

Edited by gruffydd

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Student Loan interest rate doubles to 4.8% as of today:

http://www.slc.co.uk/statistics/facts_figures.html

As per usual total silence in the media when anything of any consequence takes place. I know this has been muted and may well have been covered in some detail by previous threads but I still think it is outrageous that no public announcement is made from The Dept of Education. Oh well nevermind back to the worship of celebrities, the constant media stream of fear mongering, Sky Sports and that constant itch on my backside.

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Guest DissipatedYouthIsValuable
Student Loan interest rate doubles to 4.8% as of today:

http://www.slc.co.uk/statistics/facts_figures.html

As per usual total silence in the media when anything of any consequence takes place. I know this has been muted and may well have been covered in some detail by previous threads but I still think it is outrageous that no public announcement is made from The Dept of Education. Oh well nevermind back to the worship of celebrities, the constant media stream of fear mongering, Sky Sports and that constant itch on my backside.

Keeps them all in the country and makes them more productive don't you know.

Whereas highly mobile happy debt free students really aren't going to do anything productive now are they?

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On Monday I shall be phoning up the SLC and arranging to pay off my loan in full.

They won't be getting another penny of interest from me, and I can be happy in the knowledge that I don't owe a penny to anyone.

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On Monday I shall be phoning up the SLC and arranging to pay off my loan in full.

They won't be getting another penny of interest from me, and I can be happy in the knowledge that I don't owe a penny to anyone.

The interest on my loan will now top £600 per year and being in low paid employment there is not much prospect of me paying it off in the near future. I accept full responsibility for not having a good job but I do resent being penalised and saddled with years of debt because of my situation.

I am now also faced with the prospect of having to pay 'commercial rates of interest' once the SLC is privatised. I know it seems a small point but they could at least write to people and inform them of the change in interest rates. Meanwhile in 'sheeple' land they think student loans are interest free. Baa baa.

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