Saturday, Jul 22, 2006

The sorry saga of future FTBs

Times Online: The really big test is after university

With no savings, an average debt of 13,500 and an average salary of 19,000 - assuming they find a job - this years graduates are hardly on the firmest financial footing when they enter the working world. A survey by Equifax found that 11 per cent of respondents with student loans are considering bankruptcy.

Posted by uncle chris @ 05:15 PM (557 views)
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6 Comments

1. The Bald Man said...

This is Blair and Gordans legacy. Bad news as well todays graduates will be paying for todays exceess governement spending for the next decade.

Saturday, July 22, 2006 08:16PM Report Comment
 

2. Surfgatinho said...

As everybody goes to university now and it is widely accepted that degrees have been dumbed down it makes this debt even less worthwhile. Plus the higer number of graduates is going to push salaries down. If I had a son/daughter of this age I would certainly advise them to declare themselves bankrupt

Saturday, July 22, 2006 10:32PM Report Comment
 

3. tyrellcorporation said...

If I were a student now I'd go bananas racking up monster debts and having a bloody good time to boot! Then, when the three years are up, with no prospect of a good job or indeed being able to buy a house for decades, I'd go bankrupt, sit back and go through my photo albums with a wry smile on my face...

In fact I think this is exactly what many students are now contemplating...

Sunday, July 23, 2006 12:02AM Report Comment
 

4. Ticktock said...

I'm sure there are still ways to do it, but student loans cannot be wiped out via bankruptcy.

Sunday, July 23, 2006 02:40AM Report Comment
 

5. tyrellcorporation said...

A friend of mine virtually went on the run after his uni course. After racking up debts of about 25k he went travelling and has been 'travelling' for 10 years... absolutely no intention of paying any of it back...in fact he's recently married a 'lucky' and will be living like Lord Lucan for the next 30 years...Smart bloke...

Meanwhile us freaks sit here whining ad infinitum about what a hard time were having and how we find it so difficult now to plug ourselves into the Borg system for the benefit of gits like Brown and his weirdo social engineering experiments...Don't get me started!

Sunday, July 23, 2006 04:51PM Report Comment
 

6. Sm9ai said...

Ticktock,

You are right, Student loans are not wiped if you declare yourself bankrupt. However its quite easy to clear them. The banks are very helpful here, just get credit cards(around 3-4 should be enough) and use the money on the credit card to pay off the student debt then declare yourself bankrupt.

Banks so helpful these days.

Monday, July 24, 2006 10:05AM Report Comment
 

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