Student protests

[bobbyb]

not many TGWU members helped the miners,except to wave their pay tickets at us.

[gpartin]

not many TGWU members helped the miners,except to wave their pay tickets at us.

? What was all that about?

[mickh]

DaveO,
I bow to your understanding of the Martin Lewis article,
I thought it was a long winded article that put the students on a winning platform, with the loans not being index linked put a different slant on the matter.
I will take more of an interest in the matter to see what the end result is.
I will see if there is any follow up in this weeks Money saving email
Cheers, Mick

[gpartin]

DaveO,
I bow to your understanding of the Martin Lewis article,
I thought it was a long winded article that put the students on a winning platform, with the loans not being index linked put a different slant on the matter.
I will take more of an interest in the matter to see what the end result is.
I will see if there is any follow up in this weeks Money saving email
Cheers, Mick

I'd always rated the bloke Mick but he puts far too much on the cost now and fails to explore how much actually gets paid back by the lowest earners under the new system. Its like going to a financial advisor who recommends getting a credit card which allows you to pay back 10% less each month but takes three times longer. He also fails to take into account the fact that for many young people there's an emotional effect knowing you've got 30 odd grands worth of debt before you do a days work and the unfairness that lower earners, possibly with degrees in less sought-after subjects, will end up paying far more than those who earn the most.

[bobbyb]

DENNIS SKINNER is he the one who cheated on his wife? very nice man

[DaveO]

DaveO,
I bow to your understanding of the Martin Lewis article,
I thought it was a long winded article that put the students on a winning platform, with the loans not being index linked put a different slant on the matter.
I will take more of an interest in the matter to see what the end result is.
I will see if there is any follow up in this weeks Money saving email
Cheers, Mick

I'd always rated the bloke Mick but he puts far too much on the cost now and fails to explore how much actually gets paid back by the lowest earners under the new system. Its like going to a financial advisor who recommends getting a credit card which allows you to pay back 10% less each month but takes three times longer. He also fails to take into account the fact that for many young people there's an emotional effect knowing you've got 30 odd grands worth of debt before you do a days work and the unfairness that lower earners, possibly with degrees in less sought-after subjects, will end up paying far more than those who earn the most.

There is a tendency on many of the blogs around the Internet of people saying don't worry about the debt as it will be written off after 30 years, treat it as a 30 year graduate tax. The payment of 9% above £21K does indeed effectively introduce a new tax band for graduates. But who would support any political party going to the country suggesting a new tax rate of 29% coming in at £21K?

Also the notion of students happily taking out loans expecting to write them off seems bonkers in itself. Why not just take out as big a loan as you can? Your payments are fixed regardless and the loan is written off regardless when you turn 51 (assuming you leave Uni at 21). Who pays for the write off's?

The reality of the situation with that real rate of interest and fixed repayment is given the top rate of interest will be inflation + 3% then today we are talking 6.3%. That is £1890 in interest on a £30K loan per year. Given you pay 9% above £21K toward the loan then just to clear the interest you would need to earn £42K. It's bonkers.

Dave

[doc]

I believe Dennis Skinner separated from his wife due to the pressures of Parliamentary life sometime before starting a relationship with another woman. Some Tory biased paper tried to stitch him up when Tory MPs were being exposed as a bunch of philanderers during thir "Back to Basics" campaign. The paper ended up making an apology.