Interest rate .75 ?
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Majority of those student loans wont’ be paid off ask Martin Lewis. Although the Government has just changed that so hopefully more will be having to pay it off.
Interest rates have been raised from 0.5% to 0.75% - their highest level since March 2020.
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All of my children paid off their loans .
But that doesn’t mean that mortgages are only that rate there is always some catch to raise the rate .
As I said when I got my first mortgage they were at 17% so the same thing would have applied, but on 16.25% higher.
Seriously? I am comparing the UK at a specific period in time with the UK at a different period at time. By definition they are different times and have different challenges surely that is the point?
This is what you said:
I’m 63 and to get my first house I had to have two jobs, my ex worked 60 hours a week. We couldn’t live off one wage. And don’t know what you mean by society wasn’t broken, we still had crime when I was young, but a lot of it wasn’t in the news then and was covered up, for instance Jimmy Saville.
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Yes, as I said, after you earn a certain amount you have to start paying it off, so if they’re on good wages then that’s only fair.
Why should a person on the minimum wage have to pay off somebody else’s University fees when they are now earning a high wage.
Slightly off-topic, apologies, but I believe that since BLiar thought up the bright idea that 50% of all school leavers should go to university, the idea has fallen flat on its face.
To me, that majority of those students receive a ‘loan’, go to a third-rate university and either drop out or complete the course and receive a worthless piece of paper. In either case, if they end up as shelf-stackers or another poorly paid job and never pay off their loans.
This nonsense is a complete waste of time and money. BLiar should never have been allowed to create so many ridiculously low-grade educational establishments though, of course, that was not his only crime.
What should have happened is that the old technical colleges should have been retained and been used to encourage and train school leavers to undertake training along with apprenticeships leading to the sort of jobs we, even now, really need such as construction work, engineering, electricians, plumbers, etc.
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And so speaks the voice of reason. Well said JBR. I got my post-GCE O-level education on a day release basis - that is working for 4 days with 1 day at college studying subjects pertinent to my job. I suppose the nearest thing today is a degree apprenticeship. It took me 5 years to get up to HNC + a further 2 years part time study for my degree in rubber technology.
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JBR I agree. Thankfully though I think that’s the way we’re going back to. Training up our own youngsters instead of taking into cheap labour from abroad. Poor old Poland even had to pay their workers to come back to Poland from the UK.
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Yes, but what a shame that Boris doesn’t feel the same way. He seems quite content to take in all the ‘boat people’ he can get, simply to provide more cheap labour (after the furore has died down and he can begin employing them regardless of them being here illegally).
Why poor old Poland ?
Polish workers took all their earnings from the U.K. home where they could buy houses and land .
If Poland wanted its workers they have to pay them more .
Hi
A couple of things.
The Polish did not all have low paid jobs when they worked here.
Thjey did jobs we do not want to do and made a lot of money out of them.
The British could have earned the same if they had been prepared to do the work.
The second point is that 60% of the tax cuts will go to the richest whilst those on minimum wage will be worse off.
He is also not collecting tax from the richest and fraudsters.
The MPs have said that around £39 Billion in tax is unpaid.
They trained them up and then they came over here because the wages were higher than they could get there. They sent the money back there because the house prices were cheaper there. We should have been training our own people up, which thankfully now it looks as if we will be.
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The Polish were undercutting our workers. The Polish were trained our people weren’t. As already been discussed when we left school there was training colleges so we could get jobs straight away. Now employers are ‘having’ to train up people from the UK because they haven’t got a pool of cheap workers to choose from.
Of course not. Politicians look after their friends… after themselves of course.
I hope they do, but only genuine British workers. None of the illegal immigrants, though I think they’re happy to sponge off the genuine British taxpayers.
At the same time, as I have said before, bring back the technical colleges and mechanics’ institues for apprentices and ditch the third-rate ‘universities’.
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That’s what they’re aiming to do and why they’ve lowered the amount you have to earn before paying back University loans to put people off going to them and getting into apprenticeships, etc. instead.
And I’ve deliberately ignored your first para as I disagree with what you’re saying they’re doing and that’s for another thread.