Scrap interest on student loans, say vice-chancellors
02/02/2021 | news | education | 709
Call to wipe interest on student loans in England for 15 months, as ministers offer £50m support fund.
1
02/02/2021 10:20:55 75 11
bbc
What's the point?

the vast majority of Students are never going to pay back the loans under the current system, so an interest holiday is pointless.
40
Ed
02/02/2021 10:27:55 8 42
bbc
Because even if you don't pay it all off, you'll still have regular payments deducted from your wages for the next 30 years. Given that student loans accrue compound interest, any interest freeze would reduce the payments you'd be making.
108
02/02/2021 10:37:25 5 6
bbc
It's just over half, as the article states - not the "vast majority".
2
02/02/2021 10:21:48 67 9
bbc
Or the uni could cut the cost and not charge the maximum perhaps
24
02/02/2021 10:26:16 51 7
bbc
The poor Vice Chancellors would have to live with less exorbitant "salaries" and freebies. That would never do.
488
02/02/2021 13:19:24 4 1
bbc
You cant maintain a cartel like that next you will be asking for value for money
498
02/02/2021 13:28:58 3 3
bbc
Or Scrap it all.

Make all Education free to all!
3
02/02/2021 10:22:04 88 39
bbc
Scrap meaningless degrees as well.

Who at 21 needs £40k + debt for a degree in Celtic and Anglo Saxon Studies.

Not everybody has to go to university, get a job, go travel and learn a language etc! By the time you're 30 you'll have more money and less debt than those with pointless degrees.
26
Meh
02/02/2021 10:26:21 59 6
bbc
I agree. However being at school nowadays means you are pushed into going to uni as that’s a KPI for sixth forms. It’s difficult at 17/18 to ignore the advice of all the adults telling you to go to uni.

Im hindsight, I didn’t really need to go to uni in order to get a job, but at the time you’re told it’s your only option.
56
02/02/2021 10:29:56 11 17
bbc
Who are you to judge what is pointless?
58
02/02/2021 10:30:47 8 10
bbc
If someone wants to choose that sort of degree then good luck to them. Leaves more opportunity for those of us with proper degrees.
90
02/02/2021 10:34:49 8 13
bbc
History not important to Britain then?
147
xlr
02/02/2021 10:47:29 6 8
bbc
Immunology was a "pointless degree" until Covid hit.
211
02/02/2021 11:06:01 7 2
bbc
My local MP has just obtained his PhD, so uses the title Dr.
It is in Exobiology, the study of life on other planets!!!!
222
02/02/2021 11:09:29 11 1
bbc
A tradesman earns £200/day self employed, an ‘management accountant’ earns from £22000 PAYE, Because we don’t teach trades from 16, all pushed to Uni! So trades are elite
471
02/02/2021 13:07:22 2 0
bbc
Celtic and Anglo-Saxon Studies is not a pointless subject, but like most humanities students, it is questionable whether those graduates benefit financially from their degrees.
4
02/02/2021 10:22:11 13 7
bbc
Scrap all interest until some form of normality is resumed.
5
02/02/2021 10:22:15 119 16
bbc
I'm very pleased to see that the Vice Chancellors are offering to reduce their own salaries. They haven't? Wow, who would have expected that?
They won't. They're parasites. Removed
249
02/02/2021 11:15:11 4 10
bbc
The politics of envy?

Sorry, I forgot, that label only applies when progressives want to do something about tax-dodging billionaires which threatens the owners of right-wing media. Not when reactionaries want to distract attention from systemic problems by attacking people for their salaries, which in the end of the day are not the issue.
505
02/02/2021 13:41:15 1 4
bbc
Why should they? Have you taken a pay cut to help other people? No? So why should they?
6
02/02/2021 10:22:16 107 19
bbc
The majority of people with student loans won't end up paying it off which just makes it a tax. It will make very little difference to most people.
118
02/02/2021 10:39:09 88 7
bbc
Yep, it's a tax in all but name. Politicians knew that taxing graduates more than non-graduates would be very controversial so they invented a loan that doesn't affect your credit rating and that gets written off with zero repercussions after 30 years to serve the same purpose as a tax. The interest rates are so high because it's not designed to be paid off.
122
02/02/2021 10:39:52 10 7
bbc
Which shouldn't be the case, as everyone already pays tax.

The cost of going to university these days is a disgrace, and the government clearly want to drive towards the absolutely outrageous costs seen in the US.

Anyone who went to uni under the old system took a loan, and paid it back. People shouldn't have to pay a lifetime tax to obtain a higher education.
185
02/02/2021 11:00:40 6 1
bbc
Sadly I fear the purpose of the interest is flawed. As you've said probably 80% never pay it off. What the interest does is ensure that those who can pay it off, pay considerably more than the loan, to off-set the losses. Particularly those who earn a reasonable amount over the repayment limit suffer the most. Takes them say 20 years to repay. Interest if charged, should be at bank base rate.
272
02/02/2021 11:19:13 6 2
bbc
It's a ridiculous scheme. Someone borrows tens of thousands, interest is added, payments when they are made just scratch the surface, debt is written off after 30 years. It leaves graduates with less income paying interest on a debt that rarely gets paid off. Surely the only ones benefiting are the finance companies?
306
02/02/2021 11:27:07 7 0
bbc
Not only is it a tax as you say its pretty progressive too. As you pay more the more you earn and only those with very good jobs will ever pay it off.

You also need to measure it against what you would earn without the degree, if you are lucky enough to be able to complain you pay £300 per month you earn approx £65k per year, would you earn that without your degree?

On average....no
466
02/02/2021 12:58:46 0 0
bbc
It makes difference to some.
7
02/02/2021 10:20:29 30 9
bbc
Cut vice-chancellors' salaries and pay off student loans with the savings says everybody else!
39
dan
02/02/2021 10:27:42 5 4
bbc
Great strategy... except there's what 200 VC and what a million students?
8
02/02/2021 10:23:16 89 59
bbc
Let us remember that Labour introduced fees and the Liberal Democrats trebled the fees. So maybe the Tories will undo the actions of left wing parties who clearly shafted young people with massive debt.
23
Ed
02/02/2021 10:26:14 32 7
bbc
I wouldn't bet on it.
33
02/02/2021 10:27:12 25 8
bbc
The Lib Dem’s were part of a coalition government with the Tories, so for sure the nasty party will do nothing
43
02/02/2021 10:28:41 39 8
bbc
When were the Lib Dems in majority government? I think you meant to say the Tories trebled the fees.
46
dan
02/02/2021 10:29:06 33 9
bbc
How does this have up votes? A literal rewriting of history. Lib Dems supported the TORIES in tripling the fees.
48
02/02/2021 10:29:12 13 26
bbc
Absolutely - a fact that is conveniently forgotten by those who lay blame for everything at the Tories' door, regardless of truth.
57
02/02/2021 10:30:08 32 9
bbc
Get your facts straight, the Lib Dems were in a coalition with the Tories when student fees were increased, and it was the Tories that tabled it and forced the Lib Dems hand.
60
Meh
02/02/2021 10:30:58 36 6
bbc
What are you on about?! It’s was a Tory policy, the Lib Dem’s just didn’t do anything to block them as they cut a deal to get a referendum on the voting system (which they lost) in return for their support.
71
xlr
02/02/2021 10:32:01 10 7
bbc
The Tories have always believed that work-based training like apprenticeships are the way forward for the working class and would rather concentrate the value of higher education by concentrating it in fewer hands - which means, usually, the graduates of private schools and grammars.

So as poster above says - don't bet on it. A leopard never changes its spots.
78
02/02/2021 10:32:31 27 5
bbc
Not exactly true. It was the Tories, with Gillian Shepherd in May 1996 commissioning a report, who started the ball rolling with student fees. Blair's Labour decided to impliment the report a year after they came to power. But then it was only £1000, and it was the Cons/Libs who trebled it. So don't try and deflect the blame from the Tories, who actually have a long history of "shafting" the young
95
02/02/2021 10:35:12 9 4
bbc
I must have missed when the Lib Dems were in power, I could have sworn they were the minority party in a coalition with the Tories, meaning the Tories had the final say. Also the Lib Dems aren't left wing (why on earth would they have agreed to a coalition with the Tories if they were), they're a centrist party.
98
02/02/2021 10:35:36 11 1
bbc
If you think Blair's Labour was left-wing you're having a laugh. They privatised everything! Tony Blair's New Labour was Margaret Thatcher's greatest achievement, according to Margaret Thatcher. Starmer today is at risk of actually being out-flanked on the left by the current chancellor.
99
02/02/2021 10:36:04 7 3
bbc
Liar.
104
02/02/2021 10:36:34 12 1
bbc
NEW LABOUR introduced tuition fees - centre-right Thatcherite political party. We have had nothing except for centre-right politics in this country for decades. Blair and Brown had some left leaning tendencies but most of their policies were right leaning. This is historical fact.
107
02/02/2021 10:37:16 4 4
bbc
Yes, I won't forget Nick Clegg's broken pledge on university tuition fees. Shameful.
140
02/02/2021 10:45:12 6 0
bbc
LOL Let us remember the Tories trebled the fees, with the hapless LibDems taking the fall for it - teflon Dave slipped out of that just like brexit - what an absolute disaster he was for this country.
Another Tory in denial of the destruction they are causing, and actively blaming everyone else but the people who are monetising education to increase their profits from the poorest.
192
02/02/2021 11:01:29 5 0
bbc
The Tories and Liberal Democrats were in a coalition. There were many more Tory MPs than Lib Dem MPs. The Tories proposed trebling the fees.
196
02/02/2021 11:02:16 4 0
bbc
LibDems supported the Tories in trebling fees, in a deal where Cameron promised them support on their priorities, on which he then reneged.
A mistake to trust the Tories.
210
02/02/2021 11:05:31 1 2
bbc
Don't forget, it was also the votes of Labour MPs from Scotland which ensured students in England had to pay fees (whereas Labour MSPs voted not to introduce fees in Scotland)
252
02/02/2021 11:15:46 4 0
bbc
So, you go on to point out that the Tories trebled the fees?

Ah, no.

You don't...
265
02/02/2021 11:17:44 0 1
bbc
It is NOT a debt. All your annual statement shows is how much was spent on your behalf + interest and how much you paid in TAX towards it. That's it. Anything left after 30 years is written off so for the last time IT IS NOT A DEBT.
280
02/02/2021 11:20:38 3 0
bbc
How is this fake news allowed to stay on here?
312
02/02/2021 11:29:08 5 0
bbc
If you genuinely believe the Lib Dems were the ones who tripled the fees, then you need to view the world through a much less biased lens.
346
02/02/2021 11:39:10 2 0
bbc
The Lib Dems did NOT treble fees the Tories did.

The Lib Dem mistake as part of the coalition was making a referendum for AV rather than stopping the fee increase. As 1/6th of gov they chose the wrong red line to join the coalition and have been hammered every since by sheer ignorance that it was all their fault.

Also fees a just a progressive tax which unfortunately not many understand.
350
02/02/2021 11:40:47 2 0
bbc
I can only assume this is sarcasm? Not even daily mail readers would genuinely believe this.
401
02/02/2021 12:01:44 0 0
bbc
What Nasty parties they must be.
440
02/02/2021 12:37:11 1 0
bbc
"Let us remember that Labour introduced fees and the Liberal Democrats trebled the fees."

It was the Tories with LD support who trebled fees so let's remember that it is right wings liars such a yourself who've done more to shaft young people by transferring more wealth to the older inherited classes than at any time in the last 2 centuries. The figures are available from the Govt's own ONS.
575
02/02/2021 15:32:11 0 0
bbc
It was the Conservative-LibDem Government who trebled the fees. Most of the MPs in that coalition were Tories, as I recall.
9
02/02/2021 10:23:19 13 2
bbc
Ive been paying off my student loan for the past 20 years, can you scrap the interest off that as well please..... thanks
28
02/02/2021 10:26:38 2 10
bbc
Stop buying avocados
10
02/02/2021 10:23:36 23 3
bbc
Rather than a pointless interest holiday, why don't we reform the loan system, so that graduates actually have a chance of paying off the debt.

There's a whole world of pain coming when the debts aren't paid, the student gets too old to have to pay them and the government has to take on the debt and pay it anyway.
179
02/02/2021 10:58:44 6 0
bbc
Yes, apart from the bit where they’ve been selling off chunks of the student loan book to hedge funds...
189
02/02/2021 11:01:04 0 0
bbc
It's the other way around, gov pays universities up front and recoup the money from the 'loans during a students working life.
190
02/02/2021 11:01:08 2 0
bbc
Of course this is money graduates could be paying into a pension. Instead they're being taxed.
230
02/02/2021 11:12:18 3 0
bbc
Why not scrap gov loan system! University is not for everyone and promises of amazing salaries are grossly over estimated. We have too many university places which next 2 years will show!
11
02/02/2021 10:23:58 11 8
bbc
Of all the stories available this is the one that BBC chose for comments! Must be a slow news day?
36
02/02/2021 10:27:33 12 6
bbc
Too many comments on HYS are either critising the way the BBC's reports an issue, or about HYS itself, they don't add anything to the debate in the story. Nowt personal, but I'd ban you all.
123
02/02/2021 10:40:08 5 1
bbc
A, You're interested in this enough to come here and comment.

B, Many people are interested/affected by this subject. It's not all about you and your interests, you know.
136
02/02/2021 10:44:06 2 2
bbc
No, for some reason we're just not supposed to comment on the issues that matter most - that might lead to real debate or government hearing what we really think of disgraceful policies or the Beeb hearing what we think of shoddy reporting that spews out government press releases unanalysed and unchallenged rather than exercising any journalistic integrity ...
12
02/02/2021 10:23:58 18 3
bbc
Yes, because the interest is the problem with the system here.

Uni bosses blaming interest is like your drug dealer blaming his price on the $5 mules crossing the border.

The whole system is a corrupt way of diverting funded education money into private hands.
13
02/02/2021 10:24:06 5 2
bbc
Chicken feed. If you want to make a difference, then they need their fees returned for the year that shall not be named.
41
Pso
02/02/2021 10:28:28 1 0
bbc
2020, 2021, 2022?
14
02/02/2021 10:24:11 8 6
bbc
Just scrap student loans altogether. If we really want to be up there and competing with the best in the world, we need to start valuing education as more than just a commodity to be sold and traded.
328
02/02/2021 11:33:53 0 2
bbc
Sorry but my parents already paid fees for me and I’m still paying back my student loan. Why should we be hit again!!

Pay your own fees!

Or just don’t go to University - far too many daft courses as it is. Plenty of other options and in hindsight I wish I had instead gotten an apprenticeship!
15
02/02/2021 10:24:17 4 6
bbc
Should always have been an interest free loan at worst, at best education should be free even at uni level
84
02/02/2021 10:33:43 1 1
bbc
Please tell me why poor tax payers should pay for 50% of the population to go to University particularly when many read for degrees that are of no use to them nor the Country? Why should the working class whose children are highly unlikely to go to University pay taxes for middle class children to go to University to become highly qualified baristas?
16
02/02/2021 10:24:26 39 19
bbc
Stop people wasting money on pointless degrees would be the best way to save money
156
xlr
02/02/2021 10:49:52 8 17
bbc
Three years ago Immunology was a "pointless degree".

That didn't age well did it?
207
02/02/2021 11:05:05 1 0
bbc
It should be possible for graduates to be paid cash in hand like the trades. That'll save lots of money.
668
03/02/2021 12:44:50 0 0
bbc
Now define pointless.
I don't know about you, but I don't want to live in a purely utilitarian society like that depicted in Dickens' Hard Times. (sorry, I guess English Literature is pointless?)
17
02/02/2021 10:24:32 240 32
bbc
Funny how there is no mention of reducing the massively bloated salaries and huge pensions within these 'education' establishements that are actually just a massive self serving business now. 50% of young people to go to uni?? why? £40k in debt to line the pockets of a sector that simply cannot justify the fees they are charging for the level of eduction many provide, and that is before covid!
38
02/02/2021 10:27:42 79 24
bbc
Well said
74
02/02/2021 10:32:12 33 6
bbc
Agreed. The drive for everyone to have a degree under Blair was utterly misguided. I've worked at a university before and can tell you that this particular uni makes the stereotypical public sector look like a well-oiled and productive machine!
OK high level acedemia naturally benefits from strange and flexible working practices but the entire uni staff appear to adopt this laissez faire attitude!
103
02/02/2021 10:36:27 35 7
bbc
100% well said.

These are businesses. Some of them have behaved appallingly towards their students during this Pandemic but hey, lets point the finger at the Government.
124
02/02/2021 10:40:09 27 4
bbc
Yes; impressive list of vice chancellors from universities with near zero research output. The good universities getting dragged down which is unfortunate; see the 'Oxford' university vaccine, Graphene and the countless other world class research achievements from UK institutes.
132
02/02/2021 10:42:52 27 3
bbc
It was estimated that an average of 4,112 staff at British universities earning more than £100,000 between 2019 and 2020, an increase of 14 per cent from the previous year. One vice-chancellor university mentioned here is at a university which had 103 staff getting over £100K and 18 over £150k
155
02/02/2021 10:49:39 23 2
bbc
The whole business-model of universities now is about "bums on seats" and the money they bring in.

The young, faced with huge establishment pressure to go to university; are merely seen as cash-cows stumping up burgeoning amounts of borrowed cash to feed the machine.

Yet when student grants etc were abolished; the politicians told us it wouldn't end up like this.
164
02/02/2021 10:55:09 9 2
bbc
Anyone remember "A Very Peculiar Practice" ? It saw it all coming.
197
02/02/2021 11:02:32 8 19
bbc
Ah, that’s the way to have a vibrant future “value added” economy. Have a less educated workforce. ??

Sure, you can question whether enough students are doing the right subjects at uni, but simplistic “too many are going to uni” arguments just wreak of “back in my day...”. Your day is over. The world’s moved on. The UK needs to move with it, or get left behind.
212
02/02/2021 11:06:03 9 4
bbc
Too many Universities with bursting pensions, we need more colleges to teach trades again !
228
02/02/2021 11:11:28 9 3
bbc
How right you are. Trouble is University Vice Chancellors and the like are on the gravy train, and will fight like crazy to stay on it- And they have old boys network influence on the Government
273
02/02/2021 11:19:13 5 2
bbc
Real justice would be a cap on vice chancellors and other senior people’s salaries and lavish lifestyles. It’s no more than a gravy train that has caused an expansion of 3rd class establishments. I have no problem with the very best universities paying more if they have other sources of income. However it is unforgivable the way students are treated as cash cows.
318
02/02/2021 11:30:04 3 1
bbc
I am reminded of an episode of Inspector Morse when Morse became aware of some fund-raising being done at Oxford. He remarked that there was always plenty of money for claret, feasts, special dinners, etc. even if none for teaching or research.

I know it's fiction, but the author did attend a university.

Intelligent people who cannot get their priorities right, perhaps?
325
02/02/2021 11:32:58 4 4
bbc
If universities are a business then it's nothing to do with you what salaries they pay.

Are you whining about the salary of a hedge fund manager or the CEO of Sainsburys or BAE? No.
514
02/02/2021 13:58:57 0 1
bbc
The chancellors might be, but the teaching and research staff certainly are not! Post doc starting wage is typically on or below average. The teaching load is huge these days and just don't have the capacity to provide quality teaching and research. We have seen many redundancies and existing staff expected to pick up their workload with no time to do it or extra pay. Everyone is stressed.
624
02/02/2021 20:16:26 1 1
bbc
More to the point, why not refund the fees, at least partially. that will also reduce the interest if the refund is used to offset the loan.

Yes, the interest rate might be scandalously high but the terms are generous, what other loan wipes out the debt if not paid off after a predefined period (and heaps the debt back to the taxpayer who has no choice and has to pay it off).
647
03/02/2021 10:26:25 0 0
bbc
Bit like football really.
675
03/02/2021 13:16:47 0 0
bbc
Nail on the head!
18
02/02/2021 10:25:24 3 0
bbc
7 Vice-chancellors from poor universities able to exist because of a monopoly on the ability to issue degree certificates that society have decided are 'essential' to be able to work in anything that isn't skilled/manual.
19
02/02/2021 10:25:26 51 5
bbc
What about not charging Students rent for rooms in halls which they are not using? Something entirely within the gift of universities to decide.
247
02/02/2021 11:14:58 8 0
bbc
Universities don't "gift" anyone a brass halfpenny.
539
02/02/2021 14:29:03 1 0
bbc
The problem with that is that the vast majority of students aren’t in university provided Halls of residences, most are in rented accommodation provided privately, so all it does is benefit a minority of students. Best way to help all is to reduce fees, although as most students will never repay their loans that won’t benefit many of them either
661
03/02/2021 12:31:15 0 0
bbc
Many universities are doing just that. Not reported, as not a good headline
20
02/02/2021 10:25:28 6 7
bbc
Why should the tax payer subsidise students even more? If they cut down on always having to have the latest Smart phone device or didn’t buy expensive avocados all the time they would be able to fund their own education.
119
02/02/2021 10:39:13 1 2
bbc
LOL a gammon out of water - the usual dog whistle comments but now at students instead of forriners - probs from someone who was given a free education or had daddy to pay for it
Get back to shouting on the white cliffs and leave education to people who understand how complex society really is, not a simple game of soundbites and stereotypes to attack with.
341
02/02/2021 11:37:28 1 1
bbc
My parents already forked out paying my fees, I took out student loans and currently paying them back.

Why should my parents and I be saddled with someone else’s on top of the debt we have already accumulated.

If you go to Uni pay your own fees!

Universities are offering far too many useless and silly “hobby” courses that ought to be done at the tech!
21
02/02/2021 10:25:33 50 3
bbc
Just the interest, of course, then the Universities will still get their full fees, they are strangely quiet on reducing rent on University rooms though !!!
269
02/02/2021 11:18:50 7 1
bbc
Some have reduced, or refunded, rents.
It will be interesting to see how many take action against rent-strikes.
To do so will certainly affect their enrolment prospects in future years.
284
02/02/2021 11:21:33 2 0
bbc
The universities are just playing the new game.

It's called "don't let the buck stop hear"

Get someone else to pay is the new motto.
651
03/02/2021 11:24:05 0 0
bbc
My son's uni (Falmouth) was one of the first to cancel rent payment for university accommodation that he could not use when lockdown 1 hit last year. Unfortunately, he is in private accommodation this year so there won't be any help for him there. Worth pointing out too, that some universities are almost wholly reliant on fees for their income, while for others it is only a small part of it.
22
02/02/2021 10:25:34 12 3
bbc
Also refund their rent money and half of their fees
8
02/02/2021 10:23:16 89 59
bbc
Let us remember that Labour introduced fees and the Liberal Democrats trebled the fees. So maybe the Tories will undo the actions of left wing parties who clearly shafted young people with massive debt.
23
Ed
02/02/2021 10:26:14 32 7
bbc
I wouldn't bet on it.
473
02/02/2021 13:09:59 0 0
bbc
A Labour government would make no changes. All the main parties have supported the current unfortunate system.
2
02/02/2021 10:21:48 67 9
bbc
Or the uni could cut the cost and not charge the maximum perhaps
24
02/02/2021 10:26:16 51 7
bbc
The poor Vice Chancellors would have to live with less exorbitant "salaries" and freebies. That would never do.
25
dan
02/02/2021 10:26:19 3 1
bbc
It's a fair point, it wouldn't really help graduates other than the select few who will earn enough over a lifetime to pay their loan off in full. And they're the least likely in society to have to be worrying about a couple hundred quid.
Better hardship support, like maintenance grants, are what's needed if we're really trying to help those in difficulty (which this Gov scrapped years ago)
3
02/02/2021 10:22:04 88 39
bbc
Scrap meaningless degrees as well.

Who at 21 needs £40k + debt for a degree in Celtic and Anglo Saxon Studies.

Not everybody has to go to university, get a job, go travel and learn a language etc! By the time you're 30 you'll have more money and less debt than those with pointless degrees.
26
Meh
02/02/2021 10:26:21 59 6
bbc
I agree. However being at school nowadays means you are pushed into going to uni as that’s a KPI for sixth forms. It’s difficult at 17/18 to ignore the advice of all the adults telling you to go to uni.

Im hindsight, I didn’t really need to go to uni in order to get a job, but at the time you’re told it’s your only option.
80
02/02/2021 10:32:55 9 0
bbc
Spot on. KPIs....
163
02/02/2021 10:53:40 2 5
bbc
That’s the problem with “the only option”. Like “lockdown is the only option” which it isn’t. It’s AN option..... but it doesn’t work. Delete away, BBC......
226
02/02/2021 11:10:55 3 0
bbc
I was pushed into taking a student apprenticeship, eventually gaining 2 HNCs in engineering and ONC Business Studies.
My choice was to take an OU degree, though in a different field, as I was not very happy in my first field.
Unfortunately, the OU charges the same fees as other universities now.
277
02/02/2021 11:20:00 1 8
bbc
PLEASE NOTE - No student comes out of UNI with ANY debt, the £40k is just a record of how much was spent on your degree and maintenance. Students then pay back 9% of anything earned over £27k and anything left when you get to 51 is written off. Anyone who calls it a debt is trying to scare students because it is NOT a debt.
27
02/02/2021 10:26:25 208 18
bbc
6% interest on student loans when interest rates are below 1% is theft at the best of times.
89
02/02/2021 10:34:31 84 11
bbc
Exactly right. There should be an inquiry into this scandal.
146
02/02/2021 10:47:25 21 3
bbc
It's because it's not a real loan, what other loan can you think of that gets written off after 30 years with zero repercussions and where the repayment rate is directly tied to your salary rather than how much you still owe? (You pay 9% of anything you earn over £26,575.) It's a 9% tax that you pay for 30 years after graduating, the high interest is to stop you getting out of the tax early.
194
02/02/2021 11:01:32 12 4
bbc
The interest rates are high because the Tories wanted to sell the loans off to their cronies
218
02/02/2021 11:07:32 9 3
bbc
When these loans were introduced it was assumed that the interest rates would be low. They should have been capped at no more than 2% above the base rate. While some graduates with good useful degrees have managed to eventually clear the loans others will never pay theirs back. Too many 3rd rate establishments dishing out worthless degrees run for the luxurious lifestyle of a few people at the top
274
02/02/2021 11:13:13 1 2
bbc
Most of that interest is theoretical and will never get payed back. The 6% reflects that, and it means that students taking useful subjects subsidise those that should have gone straight from school to work.
371
02/02/2021 11:50:33 1 2
bbc
Even Usurers complain and are embarrassed by the Student Loan rate, they say it gives them a good name.
502
02/02/2021 13:33:24 1 0
bbc
Pay it off then. Same with any debt. Pay off debt before spending a penny more than the most basic survival. Rate is low.
544
02/02/2021 14:36:06 0 0
bbc
The 6% interest rate enables the government to sell of the student loan book, a form of debt factoring if you like. It makes the debt very attractive in these zero interest rate times.
616
02/02/2021 18:43:03 0 0
bbc
Who is paying 6% and where? Admittedly I'm in Scotland and paid mine a number of years ago, but if I remember correctly the rate was something like 0.1% above last years inflation.
655
03/02/2021 11:39:14 0 0
bbc
Absolutely agree
673
03/02/2021 13:14:55 0 0
bbc
Agree it's a high interest rate but report notes only 50% of loans are repaid. Unfortunately this pushes up the cost for those that do repay?
9
02/02/2021 10:23:19 13 2
bbc
Ive been paying off my student loan for the past 20 years, can you scrap the interest off that as well please..... thanks
28
02/02/2021 10:26:38 2 10
bbc
Stop buying avocados
178
02/02/2021 10:58:31 3 0
bbc
I cant help it your mother keeps requesting them
29
Joe
02/02/2021 10:26:40 5 3
bbc
The reason fees had to increase was due to the growing amount of universities popping up as a 'business.' We need a clear out of courses for that sake of courses, reduce fees and then invest more in apprenticeships and skills.

Many degrees are becoming obsolete/not useful in a job, especially given the costs. Stop this perception that uni is elitist, it's for some people and not for others.
398
02/02/2021 12:01:12 0 0
bbc
True, we don't need a dergree for fruitpickers, which is what many are likely to be doing. Unless we gat a u-turn on migration.
30
02/02/2021 10:26:45 7 1
bbc
Pointless
As we already know, most students will never pay it back anyway
A 15month break on interest will not really make any difference to them now, maybe a little in 30-40 years time

Half the fees Unis charge, now that would be a better move
82
CJR
02/02/2021 10:33:38 1 2
bbc
Maybe getting rid of the useless degrees, and keeping places for the most educated would solve this problem.
336
02/02/2021 11:35:46 1 0
bbc
Problem is that the money they are paying back would be better saved for a delosit on a house, ( If the gov, any gov) actually did build the houses as promised.
31
02/02/2021 10:27:03 5 5
bbc
This is the problem when a government starts giving out free money - it's almost impossible to turn the taps off when each special interest group decides they want more - this time students, before it was parents who want others to feed their kids. It creates a culture of dependency, we need to bring back Maggie.
64
Ed
02/02/2021 10:31:27 3 1
bbc
She's dead mate.
32
02/02/2021 10:27:11 4 8
bbc
What, and deny tory supporting capitalists millions. Not going to happen. Covid is a disaster poor but an opportunity for the wealthy capitalists.
51
CPJ
02/02/2021 10:29:37 2 2
bbc
Fake news
65
Joe
02/02/2021 10:31:30 2 1
bbc
It was actually Labour that pushed for everyone to go to uni, which led to a growing amount of courses that were unnecessary and created debt to bridge the funding gap. This caused fees to be introduced and increased, which is the problem we find ourselves in. Stupid amount of debt for people that won't help them in the real for doing a degree.

Nothing to do with Covid.
93
02/02/2021 10:34:52 0 1
bbc
Who are these tory supporting capitalists who are making millions from students?
8
02/02/2021 10:23:16 89 59
bbc
Let us remember that Labour introduced fees and the Liberal Democrats trebled the fees. So maybe the Tories will undo the actions of left wing parties who clearly shafted young people with massive debt.
33
02/02/2021 10:27:12 25 8
bbc
The Lib Dem’s were part of a coalition government with the Tories, so for sure the nasty party will do nothing
34
02/02/2021 10:27:13 31 3
bbc
The universities are only suggesting this now to deflect from the atrocious quality of education they've provided this year. Do we really believe they suddenly care about this issue. They just don't want to give refunds in fear of bankruptcy.
665
03/02/2021 12:37:48 1 2
bbc
Please provide evidence the provided education is "atrocious" and ensure you understand how university teaching and learning works
35
02/02/2021 10:27:22 2 1
bbc
University is now more about making money than actually providing education - Where I am (Bath) there are two uni and there are accommodation buildings popping up in every bit of available land and normal people get priced out of family home as the all turned into student house. They should cap the cost, interest rate as well as look into the affect to local community and invest in it instead.
11
02/02/2021 10:23:58 11 8
bbc
Of all the stories available this is the one that BBC chose for comments! Must be a slow news day?
36
02/02/2021 10:27:33 12 6
bbc
Too many comments on HYS are either critising the way the BBC's reports an issue, or about HYS itself, they don't add anything to the debate in the story. Nowt personal, but I'd ban you all.
63
02/02/2021 10:31:26 3 4
bbc
But it is called 'Have Your Say'! It is a tiny corner of free speech.
109
02/02/2021 10:37:32 4 3
bbc
Since when was it a crime to disagree with the BBC's political dogma?
Is ban all who disagree a really good way to win a discussion
452
02/02/2021 12:43:44 1 1
bbc
The point is with so much going on in the world the BBC chose to open up this one. Left media with a story on someone should get a handout again rather than something with substance to be discussed.
37
02/02/2021 10:27:40 6 1
bbc
The person quoted in the final paragraph, supposedly a "specialist in higher education fees and funding", gives the impression that female undergraduates would not benefit from the removal of interest on the loans because they do not earn enough.

This is untrue - there are certainly some higher earning female graduates, such as doctors - and is deliberately misleading.
353
02/02/2021 11:42:19 0 0
bbc
But comparatively fewer than men, there is still a differential in salaries between hhd sexes.
17
02/02/2021 10:24:32 240 32
bbc
Funny how there is no mention of reducing the massively bloated salaries and huge pensions within these 'education' establishements that are actually just a massive self serving business now. 50% of young people to go to uni?? why? £40k in debt to line the pockets of a sector that simply cannot justify the fees they are charging for the level of eduction many provide, and that is before covid!
38
02/02/2021 10:27:42 79 24
bbc
Well said
487
02/02/2021 13:19:17 4 1
bbc
Is there any chance the BBC HYS mods could ban people from simply adding "well said" or "I agree" as a response? That's what the up arrow is for. It's a completely pointless comment otherwise.
7
02/02/2021 10:20:29 30 9
bbc
Cut vice-chancellors' salaries and pay off student loans with the savings says everybody else!
39
dan
02/02/2021 10:27:42 5 4
bbc
Great strategy... except there's what 200 VC and what a million students?
144
02/02/2021 10:42:05 6 1
bbc
Every little helps!
257
02/02/2021 11:16:17 2 0
bbc
You’ll be very surprised at 200 VC’s get paid and how far 20% of it would go
294
02/02/2021 11:24:29 2 0
bbc
With 20X£150k plus, it would help.
Furlough them at max £2500 pm. if not working.
413
02/02/2021 12:10:15 0 0
bbc
So the excess after paying off the student loans can be handed back to the VC's ;-)
1
02/02/2021 10:20:55 75 11
bbc
What's the point?

the vast majority of Students are never going to pay back the loans under the current system, so an interest holiday is pointless.
40
Ed
02/02/2021 10:27:55 8 42
bbc
Because even if you don't pay it all off, you'll still have regular payments deducted from your wages for the next 30 years. Given that student loans accrue compound interest, any interest freeze would reduce the payments you'd be making.
83
02/02/2021 10:33:42 22 2
bbc
Wrong.

You only pay back when your salary gets above a certain threshold and you only pay back based on the amount of your salary above that threshold at a fixed rate.

This means that unless you are earning megabucks the amount you pay won't vary irrespective of the amount of interest that has accrued.

It is an awful system designed to keep graduates in debt for their entire working life.
131
02/02/2021 10:42:40 25 1
bbc
"any interest freeze would reduce the payments you'd be making"

This is completely false. Whilst the interest itself uses compound interest the repayment rate does not. The repayment is 9% of anything you earn over £26,575, it is irrelevant how much is left on the loan. Someone who owes £1,000 and someone who owes £1,000,000 would be repaying the exact same amount if they were on the same salary.
254
02/02/2021 11:16:01 7 0
bbc
NO IT WOULDN'T, you pay 9% of anything you earn on £27k whether any interest is added or not. Only those with £60k salaries will ever get to the point where they end up paying it all off so it makes NO DIFFERENCE to the vast majority
315
02/02/2021 11:29:24 0 2
bbc
Only if you start to earn something like £17,000 or it could be higher by now.

At that it’s actually not very much that you pay off at a time! I know because I’m in this position
601
02/02/2021 17:09:16 0 0
bbc
that's the frustration - so many people who haven't read the simple rules on student finance are so quick to have an opinion. It gets written off after 30 years, only the very wealthy will pay the interest, that's a good thing
707
03/02/2021 20:05:20 0 0
bbc
Wrong
13
02/02/2021 10:24:06 5 2
bbc
Chicken feed. If you want to make a difference, then they need their fees returned for the year that shall not be named.
41
Pso
02/02/2021 10:28:28 1 0
bbc
2020, 2021, 2022?
42
TS
02/02/2021 10:28:28 4 0
bbc
Clearly these Vice Chancellors haven't got a clue as to how the Student Loans work. This will be of no benefit to the vast majority except the ones rich enough to pay off the loan in full.

This proposal is not just embarrassing but, more importantly, shows they have no understanding of their customers: the students.

There is definitely a problem with student costs but this is not the solution.
8
02/02/2021 10:23:16 89 59
bbc
Let us remember that Labour introduced fees and the Liberal Democrats trebled the fees. So maybe the Tories will undo the actions of left wing parties who clearly shafted young people with massive debt.
43
02/02/2021 10:28:41 39 8
bbc
When were the Lib Dems in majority government? I think you meant to say the Tories trebled the fees.
44
CPJ
02/02/2021 10:28:53 18 2
bbc
This is down to individual universities trying to absolve themselves from any responsibility. Refund a portion of tuition fees and all rent for the period accommodation is not occupied. It is not down to the government
542
02/02/2021 14:34:04 0 0
bbc
The problem with reducing rents is that only the minority who stay in students halls of residences will benefit, and even that is debatable as very few will pay off their debt anyway. Makes little difference if your student debt is £45k rather than £50k as even if they earn £40k they wouldn’t pay it off
45
02/02/2021 10:29:04 15 1
bbc
Universities should look to reduce costs in order to reduce the size of the loans.

Vice Chancellor pay packets would be a good place to start.
8
02/02/2021 10:23:16 89 59
bbc
Let us remember that Labour introduced fees and the Liberal Democrats trebled the fees. So maybe the Tories will undo the actions of left wing parties who clearly shafted young people with massive debt.
46
dan
02/02/2021 10:29:06 33 9
bbc
How does this have up votes? A literal rewriting of history. Lib Dems supported the TORIES in tripling the fees.
76
Meh
02/02/2021 10:32:25 9 7
bbc
Exactly, the BBC HYS contributors are always very conservative leaning (probably demonstrated by the amount of downvotes this comment will get)..
It's because Tory bots on HYS will upvote any old lie and made up rubbish. Removed
130
02/02/2021 10:42:05 4 0
bbc
It's easy convenient lies, they absolve you of the need to think for yourself. Finding the truth takes effort, and most people can't be bothered. That's why politicians can get away with lying. As for the hardline Tories, truth is irrelevant, "winning" is all that matters, and if their "side" lies to win, that's fair game. Get used to it, you're in the minority if you care about the truth.
47
Meh
02/02/2021 10:29:10 6 2
bbc
The interest on student fees is ridiculous. The debt has really resulted in more of a student tax.

My older brother who missed out on the tripling of fees (unlike myself) was actually tempted to pay off his debt as he had the chance to. For me it’s simply not an option, there’s absolutely no incentive for me to pay it off when’s it’s that high.
8
02/02/2021 10:23:16 89 59
bbc
Let us remember that Labour introduced fees and the Liberal Democrats trebled the fees. So maybe the Tories will undo the actions of left wing parties who clearly shafted young people with massive debt.
48
02/02/2021 10:29:12 13 26
bbc
Absolutely - a fact that is conveniently forgotten by those who lay blame for everything at the Tories' door, regardless of truth.
81
dan
02/02/2021 10:32:55 28 3
bbc
Remind me when the Lib Dems were a majority Gov?
The Tory
Lib Dem coalition, led by Tories tripled the fee. Over 200 Tory MPs voted to raise the fees. Don't you DARE try to gaslight us and pretend it was nothing to do with them.
220
02/02/2021 11:08:09 3 0
bbc
So the Liberals done it all on their own as the junior party in a coalition government and you talk about truth?
49
02/02/2021 10:29:17 9 1
bbc
It wouldn't make a huge amount of difference but anything would be welcome, even though I'm still paying mine off at £60/month and I graduated in 2001. I wish I had never gone to Uni, but hindsight is a wonderful thing
106
02/02/2021 10:37:09 4 0
bbc
I graduated in 2003 and am also still paying mine off (£40/month)
I am glad I went to uni but I wish I'd done a better course.
50
02/02/2021 10:29:29 25 2
bbc
Student loans are horrendous anyway.

I used to be a lecturer at a university and there was such an emphasis on passing poor students so they pay another £10k next year and increase their debt. It's why I left academia, that practice was so immoral, I couldn't deal with

I'm not one for nationalising industries, but higher education is much better when money isn't an influence.
110
02/02/2021 10:37:35 7 12
bbc
I'm not sure I'd want a lecturer that doesn't understand student finance. Students don't pay ANYTHING upfront, the Govt. pay it for them and the student then pays a 9% tax on their salary over £27k (that's a tiny £23 a month if you are earning £30k). It's a good and fair system with those earning most paying more surely that fits with your 'progressive' views. Your salary has to be paid somehow.
32
02/02/2021 10:27:11 4 8
bbc
What, and deny tory supporting capitalists millions. Not going to happen. Covid is a disaster poor but an opportunity for the wealthy capitalists.
51
CPJ
02/02/2021 10:29:37 2 2
bbc
Fake news
52
02/02/2021 10:29:37 7 4
bbc
Get unis back to doing proper degrees.
We need the UK to become a manufacturing base and more self sufficient. Both Covid and Brexit have shown this. The issue is nothing new and was a lesson from WW1 when we were nearly crushed by the hun because of our reliance on imports, unfortunately we seem not to have learnt.

Regards the student loans, just stop them having a gap year and problem solved.
282
02/02/2021 11:20:55 0 1
bbc
Correct.
53
02/02/2021 10:29:42 2 3
bbc
Employers who need degree level personnel should do more to help fund the people they need through university. That way there is an incentive for people to do the degrees that are actually needed by employers. If you still want to do a degree that is not needed then that's ok, but you need to fund it yourself.
54
02/02/2021 10:29:49 50 11
bbc
Controversial I know, but I'd make certain degrees free for the value they add to society - and that's where we'll disagree. I'm talking about Dr's, Nurses, for instance - old style 'professions', but modernised for today's world.

You want to do a 'fluffy' degree to further yourself, no problem, but pay for it.

We now debate 'fluffy'.
69
02/02/2021 10:31:55 34 6
bbc
And those Dr's and nurses are not allowed to wander off to live in Australia straight afterwards?
85
02/02/2021 10:33:47 10 1
bbc
"We now debate Fluffy"

Part of that issue is how do you quantify a degree's value to society.

It's like when Maggie Thatcher berated a student for studying Norse Mythology a s waste of time, but they ended up being a writer on the Lord the Rings films making Billions!
86
02/02/2021 10:33:47 15 0
bbc
Nurses never used to need a degree.

Indeed the financial and time costs associated with going to university and studying for a degree for three years whilst training are part of the reason for the current shortage of young people entering the profession.
91
02/02/2021 10:32:56 3 0
bbc
PPE.

The course. Not the equipment.
94
02/02/2021 10:34:57 13 0
bbc
When the gov raised fees to 9 grand a year, the plan was always to have various fees for different courses, I.e. a course in being a hedge fund manager should cost more than a degree in nursing as the potential earnings are different.
But universities just saw the £££s and students paid it.
283
02/02/2021 11:21:00 3 2
bbc
In my youth education was free, for the future benefit of society..
And still should be. IMO.
663
03/02/2021 12:34:55 0 0
bbc
Ah! That'll be philosophy. A bit of a meta-discussion there - philosphers debating if philosophy is a "fluffy" subject...

Seriously, all knowledge enriches society. Imagine how boring existence would be without art, history, philosophy, Anglo-Saxon studies etc... We might as well go the whole hog and upgrade to cybermen...
676
03/02/2021 13:19:49 0 0
bbc
This sounds like a great idea but (as you note the devil is in the detail). I speak to GP's / Consultants on a regular basis. GPs can earn £100k plus so not sure why the degree should be free noting the financial reward later. But yes a free degree for critical roles makes sense (but with strict eligibility criteria based on ability so that we get value for money)
55
02/02/2021 10:29:54 11 3
bbc
Scrap extortionate, bloated salaries for Vice Chancellors say students (and the rest of us)
3
02/02/2021 10:22:04 88 39
bbc
Scrap meaningless degrees as well.

Who at 21 needs £40k + debt for a degree in Celtic and Anglo Saxon Studies.

Not everybody has to go to university, get a job, go travel and learn a language etc! By the time you're 30 you'll have more money and less debt than those with pointless degrees.
56
02/02/2021 10:29:56 11 17
bbc
Who are you to judge what is pointless?
320
02/02/2021 11:30:40 4 4
bbc
Because, Jonathan, it's true.
What are you going to do with a useless arts degree? How will that help you get a job?
Employers won't care if you read Homer or Shakespeare - they care about your skills and experience.
Getting a job in law, medicine or a STEM subject is useful because it can be applied to the real world.
The best an arts degree will get you is a stint at McDonalds, if lucky.
8
02/02/2021 10:23:16 89 59
bbc
Let us remember that Labour introduced fees and the Liberal Democrats trebled the fees. So maybe the Tories will undo the actions of left wing parties who clearly shafted young people with massive debt.
57
02/02/2021 10:30:08 32 9
bbc
Get your facts straight, the Lib Dems were in a coalition with the Tories when student fees were increased, and it was the Tories that tabled it and forced the Lib Dems hand.
266
02/02/2021 11:17:50 1 2
bbc
The Lib Dem’s weren’t forced to support the increase, they could have voted against it and ended the coalition, but preferred to remain in power.
Much good it did the Lib Dem’s or the country
3
02/02/2021 10:22:04 88 39
bbc
Scrap meaningless degrees as well.

Who at 21 needs £40k + debt for a degree in Celtic and Anglo Saxon Studies.

Not everybody has to go to university, get a job, go travel and learn a language etc! By the time you're 30 you'll have more money and less debt than those with pointless degrees.
58
02/02/2021 10:30:47 8 10
bbc
If someone wants to choose that sort of degree then good luck to them. Leaves more opportunity for those of us with proper degrees.
59
02/02/2021 10:30:49 20 6
bbc
A stupid recommendation because most graduates fail to repay student loans and those that do are typically high earners. This is virtue signalling by left wing academics.
8
02/02/2021 10:23:16 89 59
bbc
Let us remember that Labour introduced fees and the Liberal Democrats trebled the fees. So maybe the Tories will undo the actions of left wing parties who clearly shafted young people with massive debt.
60
Meh
02/02/2021 10:30:58 36 6
bbc
What are you on about?! It’s was a Tory policy, the Lib Dem’s just didn’t do anything to block them as they cut a deal to get a referendum on the voting system (which they lost) in return for their support.
61
02/02/2021 10:31:15 9 1
bbc
Most students will never repay their student loans in full anyway - huge amounts of money will just get written off. This is the more fundamental issue.
323
02/02/2021 11:31:54 0 0
bbc
So reduce their fees to a more manageable level, where they can be paid off. and subsidise the unis with the rest.
62
02/02/2021 10:31:16 5 1
bbc
Yes interest should be cut but so should over inflated salaries of university Chancellors and senior lecturers with course fees reduced accordingly. The Uni's are a national disgrace. Students should get a 50% reduction on fees this year as they have not received what they signed up for. If they want to run uni's like businesses they need to take a hit like every other business during the pandemic
36
02/02/2021 10:27:33 12 6
bbc
Too many comments on HYS are either critising the way the BBC's reports an issue, or about HYS itself, they don't add anything to the debate in the story. Nowt personal, but I'd ban you all.
63
02/02/2021 10:31:26 3 4
bbc
But it is called 'Have Your Say'! It is a tiny corner of free speech.
100
02/02/2021 10:36:05 7 2
bbc
Am I the only one that sees the irony in someone talking about free speech on a post which critises the BBC for its free speech? You can have any opinion you like, as long as I agree with it..... Utterly ridiculous.
117
02/02/2021 10:39:00 3 1
bbc
HYS has nothing to do with "free speech".

It's simply a platform.

Look up "free speech" and find out what it really means.
310
02/02/2021 11:28:45 1 1
bbc
Unfortunately, too many on here don't appear to support free speech.
Paradox?
31
02/02/2021 10:27:03 5 5
bbc
This is the problem when a government starts giving out free money - it's almost impossible to turn the taps off when each special interest group decides they want more - this time students, before it was parents who want others to feed their kids. It creates a culture of dependency, we need to bring back Maggie.
64
Ed
02/02/2021 10:31:27 3 1
bbc
She's dead mate.
351
02/02/2021 11:42:01 1 0
bbc
She'd still do a better job than any current UK politician.
32
02/02/2021 10:27:11 4 8
bbc
What, and deny tory supporting capitalists millions. Not going to happen. Covid is a disaster poor but an opportunity for the wealthy capitalists.
65
Joe
02/02/2021 10:31:30 2 1
bbc
It was actually Labour that pushed for everyone to go to uni, which led to a growing amount of courses that were unnecessary and created debt to bridge the funding gap. This caused fees to be introduced and increased, which is the problem we find ourselves in. Stupid amount of debt for people that won't help them in the real for doing a degree.

Nothing to do with Covid.
66
02/02/2021 10:29:02 2 3
bbc
“ The interest on student loans in England should be scrapped for 15 months, a group of universities says.

This is definitely a fair and good idea.

I do feel that to “qualify” for the grace period, students must be made to sign a contract to not spend this additional savings on beer, houseplants, festival tickets etc or whatever it is that students buy these days.
67
02/02/2021 10:31:36 23 2
bbc
The universities significantly reducing or scrapping hall fees for accommodation that has barely been used in the last 12 months would be much more of a financial boost for students.
657
03/02/2021 11:46:40 0 0
bbc
In some cases yes, but mainly only impacts first year students and perhaps post-grad. The rest are stuck paying for private accommodation that they aren't using, just like first year students, but they won't be getting rent reductions or rent scrapped. So how are they being supported??
68
02/02/2021 10:31:54 0 1
bbc
Scrap interest, but make a portion of the loan via vouchers (just to keep everyone doing the right thing)
54
02/02/2021 10:29:49 50 11
bbc
Controversial I know, but I'd make certain degrees free for the value they add to society - and that's where we'll disagree. I'm talking about Dr's, Nurses, for instance - old style 'professions', but modernised for today's world.

You want to do a 'fluffy' degree to further yourself, no problem, but pay for it.

We now debate 'fluffy'.
69
02/02/2021 10:31:55 34 6
bbc
And those Dr's and nurses are not allowed to wander off to live in Australia straight afterwards?
125
LG
02/02/2021 10:40:57 4 2
bbc
And why do you think that is?
129
02/02/2021 10:41:25 5 1
bbc
Most companies have payback periods where fees for professional qualifications are repayable if you leave. It could work that way maybe?
133
02/02/2021 10:43:05 1 0
bbc
That's where one needs an emigration tax.
290
02/02/2021 11:22:40 5 0
bbc
5 year contract. or pay fees?
Remember, Nurses have no time to get a second job to pay their fees.
70
02/02/2021 10:32:00 6 2
bbc
Higher education in this country is now just another commodity to generate profit.

This should never have been allowed to happen and has now become the slippery slope of ever-increasing costs predicted by so many, yet widely denied by politicians.

Hopefully, the costs will continue to escalate to a point where few can afford or justify it and the bloated business-model collapses.
360
02/02/2021 11:44:37 0 0
bbc
Along with the source of qualitied individuals to run our business and industry?
8
02/02/2021 10:23:16 89 59
bbc
Let us remember that Labour introduced fees and the Liberal Democrats trebled the fees. So maybe the Tories will undo the actions of left wing parties who clearly shafted young people with massive debt.
71
xlr
02/02/2021 10:32:01 10 7
bbc
The Tories have always believed that work-based training like apprenticeships are the way forward for the working class and would rather concentrate the value of higher education by concentrating it in fewer hands - which means, usually, the graduates of private schools and grammars.

So as poster above says - don't bet on it. A leopard never changes its spots.
72
02/02/2021 10:32:08 19 4
bbc
Clearly those people calling for the scrapping of interest on student finance to 'reduce the pressure on students' don't understand how it works. For the vast majority of students it makes NO difference as they will NVER pay it back, even if they earn £40k a year, they just pay 9% of their salary over £27k and anything left (including interest) gets wiped when they are 51, it's a tax NOT a debt
424
02/02/2021 12:24:41 2 0
bbc
So why did Government propose selling some off to debt collection agencies, AND those agencies seem happy to buy them?
507
02/02/2021 13:42:02 0 0
bbc
Absolute and utter nonsense! It's very clearly a debt. Student loans are loans, the clue is in the name...
73
Pso
02/02/2021 10:32:08 0 3
bbc
Student loans are a stealth tax. Apparently written off at 50 just avoid earning 25k until you are 50 and then you will get it for free.
102
02/02/2021 10:36:26 1 0
bbc
Actually it's written off after 30 years, not at aged 50.
127
02/02/2021 10:41:04 0 1
bbc
Not a stealth tax at all, just a sensible way of funding higher education with those earning the most paying the most back. If you are stupid enough to limit your earnings to £25k to avoid paying it then more fool you.
17
02/02/2021 10:24:32 240 32
bbc
Funny how there is no mention of reducing the massively bloated salaries and huge pensions within these 'education' establishements that are actually just a massive self serving business now. 50% of young people to go to uni?? why? £40k in debt to line the pockets of a sector that simply cannot justify the fees they are charging for the level of eduction many provide, and that is before covid!
74
02/02/2021 10:32:12 33 6
bbc
Agreed. The drive for everyone to have a degree under Blair was utterly misguided. I've worked at a university before and can tell you that this particular uni makes the stereotypical public sector look like a well-oiled and productive machine!
OK high level acedemia naturally benefits from strange and flexible working practices but the entire uni staff appear to adopt this laissez faire attitude!
238
02/02/2021 11:13:18 7 9
bbc
Blair has been out of Government since 2007.
So what have the Tories done, apart from Massive drive towards starving the population, to redress this. Have they reduced the fees or interest? No they’ve increased the fees . So address the Tories not Blair.
Also don’t you want the country to be better educated?
Though that said the Tories only want ignorance and greed to flourish
75
02/02/2021 10:32:20 7 3
bbc
Student loans aren't real loans, they're a disguised tax, you 'repay' 9% of your income over £26,575 each year, I'm on almost £40k and what I repay doesn't even cover the interest. No real loan gets written off after 30 years with zero consequence, you could owe £1m and it would still be written off after 30 years with no repercussions. It's designed to make sure you don't stop repaying early.
46
dan
02/02/2021 10:29:06 33 9
bbc
How does this have up votes? A literal rewriting of history. Lib Dems supported the TORIES in tripling the fees.
76
Meh
02/02/2021 10:32:25 9 7
bbc
Exactly, the BBC HYS contributors are always very conservative leaning (probably demonstrated by the amount of downvotes this comment will get)..
101
dan
02/02/2021 10:36:24 12 1
bbc
Its embarrassing, if people are conservative leaning and support this Gov that's totally fine, but OWN the conservative policies, don't lie and try to fob off what are Conservative policies onto other parties.
271
02/02/2021 11:19:11 1 0
bbc
And some of us put forward their own opinions on HYS without supporting any particular political party
77
02/02/2021 10:31:47 5 2
bbc
Cost of sending students to uni with a grant (ie no student debt) around 11bio pa
International aid budget. 12bio pa.

Better investment for the uk long term?
8
02/02/2021 10:23:16 89 59
bbc
Let us remember that Labour introduced fees and the Liberal Democrats trebled the fees. So maybe the Tories will undo the actions of left wing parties who clearly shafted young people with massive debt.
78
02/02/2021 10:32:31 27 5
bbc
Not exactly true. It was the Tories, with Gillian Shepherd in May 1996 commissioning a report, who started the ball rolling with student fees. Blair's Labour decided to impliment the report a year after they came to power. But then it was only £1000, and it was the Cons/Libs who trebled it. So don't try and deflect the blame from the Tories, who actually have a long history of "shafting" the young
79
02/02/2021 10:32:44 5 1
bbc
Typical to suggest something that costs THEM nothing. How about refunding fees for 15 months?
26
Meh
02/02/2021 10:26:21 59 6
bbc
I agree. However being at school nowadays means you are pushed into going to uni as that’s a KPI for sixth forms. It’s difficult at 17/18 to ignore the advice of all the adults telling you to go to uni.

Im hindsight, I didn’t really need to go to uni in order to get a job, but at the time you’re told it’s your only option.
80
02/02/2021 10:32:55 9 0
bbc
Spot on. KPIs....
48
02/02/2021 10:29:12 13 26
bbc
Absolutely - a fact that is conveniently forgotten by those who lay blame for everything at the Tories' door, regardless of truth.
81
dan
02/02/2021 10:32:55 28 3
bbc
Remind me when the Lib Dems were a majority Gov?
The Tory
Lib Dem coalition, led by Tories tripled the fee. Over 200 Tory MPs voted to raise the fees. Don't you DARE try to gaslight us and pretend it was nothing to do with them.
30
02/02/2021 10:26:45 7 1
bbc
Pointless
As we already know, most students will never pay it back anyway
A 15month break on interest will not really make any difference to them now, maybe a little in 30-40 years time

Half the fees Unis charge, now that would be a better move
82
CJR
02/02/2021 10:33:38 1 2
bbc
Maybe getting rid of the useless degrees, and keeping places for the most educated would solve this problem.
291
02/02/2021 11:22:52 0 1
bbc
Totally correct. So many useless degrees. eg: "media studies". What's that all about? Watch the BBC and read comics?
40
Ed
02/02/2021 10:27:55 8 42
bbc
Because even if you don't pay it all off, you'll still have regular payments deducted from your wages for the next 30 years. Given that student loans accrue compound interest, any interest freeze would reduce the payments you'd be making.
83
02/02/2021 10:33:42 22 2
bbc
Wrong.

You only pay back when your salary gets above a certain threshold and you only pay back based on the amount of your salary above that threshold at a fixed rate.

This means that unless you are earning megabucks the amount you pay won't vary irrespective of the amount of interest that has accrued.

It is an awful system designed to keep graduates in debt for their entire working life.
243
02/02/2021 11:14:21 3 2
bbc
Not actually “megabucks” if the repayments start at less than average income.
15
02/02/2021 10:24:17 4 6
bbc
Should always have been an interest free loan at worst, at best education should be free even at uni level
84
02/02/2021 10:33:43 1 1
bbc
Please tell me why poor tax payers should pay for 50% of the population to go to University particularly when many read for degrees that are of no use to them nor the Country? Why should the working class whose children are highly unlikely to go to University pay taxes for middle class children to go to University to become highly qualified baristas?
54
02/02/2021 10:29:49 50 11
bbc
Controversial I know, but I'd make certain degrees free for the value they add to society - and that's where we'll disagree. I'm talking about Dr's, Nurses, for instance - old style 'professions', but modernised for today's world.

You want to do a 'fluffy' degree to further yourself, no problem, but pay for it.

We now debate 'fluffy'.
85
02/02/2021 10:33:47 10 1
bbc
"We now debate Fluffy"

Part of that issue is how do you quantify a degree's value to society.

It's like when Maggie Thatcher berated a student for studying Norse Mythology a s waste of time, but they ended up being a writer on the Lord the Rings films making Billions!
138
02/02/2021 10:44:50 3 2
bbc
Indeed, and i'll step on toes whatever I say.

I've had many 'temps' join following a History degree for instance, 10 years later still working for an insurance company. No doubt they enjoyed their degree and enrich the world we live in, but no real correlation between degree and job.

Should there be some kind of link, perhaps?
372
02/02/2021 11:51:24 2 3
bbc
That sounds like jackanory to me. Something a leftist comedian would make up. Do you have any links for this Maggie/Norse Mythology student/Lord of the rings trio?
664
03/02/2021 12:35:36 0 0
bbc
No knowledge or study is a waste. All enriches society and our lives.
54
02/02/2021 10:29:49 50 11
bbc
Controversial I know, but I'd make certain degrees free for the value they add to society - and that's where we'll disagree. I'm talking about Dr's, Nurses, for instance - old style 'professions', but modernised for today's world.

You want to do a 'fluffy' degree to further yourself, no problem, but pay for it.

We now debate 'fluffy'.
86
02/02/2021 10:33:47 15 0
bbc
Nurses never used to need a degree.

Indeed the financial and time costs associated with going to university and studying for a degree for three years whilst training are part of the reason for the current shortage of young people entering the profession.
87
02/02/2021 10:34:06 3 7
bbc
The monetisation of education by this Tory govt is a creeping threat to the youth of this country.
I work in a state school and have seen the cronyism and corruption academisation and free schools are creating - tax-payers money is being siphoned off to businesses openly.
Uni students are being ripped off even more with uni's now just treating them as cash cows, my son is one.
Tories=no future
105
Ben
02/02/2021 10:37:06 3 0
bbc
It wasn't a Tory government that started this - the top up fees were introduced by Labour...
88
02/02/2021 10:34:13 6 0
bbc
"Maike Halterbeck, associate director at LE and a specialist in higher education fees and funding, said not much would be gained for students."

Instead of trying to point the finger at the easy target which is the Government BBC, why don't you put this person together with one or more of these Vice Chancellors and see where they get to?
347
02/02/2021 11:39:25 0 1
bbc
Not the BBC's job.
It's Charter is to report the news without bias.

With respect, wouldn't this be a job for government; after all, their job should be to govern.
What 43% elected them to do.
27
02/02/2021 10:26:25 208 18
bbc
6% interest on student loans when interest rates are below 1% is theft at the best of times.
89
02/02/2021 10:34:31 84 11
bbc
Exactly right. There should be an inquiry into this scandal.
235
02/02/2021 11:12:50 3 2
bbc
Most students never effectively pay any of the added interest so it doesn't really matter, only those on average salaries of £60k will fully pay their student finance before it gets written off when they hit 51.
3
02/02/2021 10:22:04 88 39
bbc
Scrap meaningless degrees as well.

Who at 21 needs £40k + debt for a degree in Celtic and Anglo Saxon Studies.

Not everybody has to go to university, get a job, go travel and learn a language etc! By the time you're 30 you'll have more money and less debt than those with pointless degrees.
90
02/02/2021 10:34:49 8 13
bbc
History not important to Britain then?
145
02/02/2021 10:46:57 7 8
bbc
Of course not.

These same people probably also say art degrees are pointless

Not everyone has to be a non-creative drone grinding out repetitive work.

Bought a nice looking car? It wasn't a mechanical engineer that made it look that good

Buying a shiny apple product? Good job someone did a UX course instead of coding, or electronics engineering
278
02/02/2021 11:20:14 4 1
bbc
Only as a subject to be re-written so as not to upset people who have recently found out that the world was completely different hundreds of years ago, and who cannot accept that notion.
54
02/02/2021 10:29:49 50 11
bbc
Controversial I know, but I'd make certain degrees free for the value they add to society - and that's where we'll disagree. I'm talking about Dr's, Nurses, for instance - old style 'professions', but modernised for today's world.

You want to do a 'fluffy' degree to further yourself, no problem, but pay for it.

We now debate 'fluffy'.
91
02/02/2021 10:32:56 3 0
bbc
PPE.

The course. Not the equipment.
92
02/02/2021 10:34:51 87 5
bbc
OK this is properly annoying. Students are shelling out full rate for tuition and accommodation and many are getting next to nothing from the tutors. Absolutely disgraceful deflection by the universities.

Our unis used to be truthfully divided up between the greats and the not so greats. Now they all claim to be as good as Oxford and pay their staff way too much for the standard achieved.
116
02/02/2021 10:38:57 31 33
bbc
Students are not 'shelling' out anything, for most their fees are being paid by the Govt. and so is their maintenance, students only pay when they complete their course and start earning above £27k.
120
02/02/2021 10:39:16 9 1
bbc
A couple of universities are as good as Oxbridge but only in one subject or another. They charge the same for everything though.
141
02/02/2021 10:45:17 4 0
bbc
Tuition is going full blast, actually. Accommodation I grant you, many students haven't come back after Christmas... but in many places even the 'university halls' no longer belong to the university, never mind those in traditional private accommodation.
201
02/02/2021 11:03:12 7 1
bbc
There might be excessive pay at the top of institutions, but generally speaking, university jobs are not that well paid - given the level of qualifications and experience required. Also, for many the job insecurity is awful - that is why I left my employment as a scientist with a Russell Group university many years ago, and things have only got worse in this respect.
479
JGC
02/02/2021 13:12:50 2 1
bbc
Yes agreed. Students have been treated appallingly by Universities that still want tuition fees and accommodation payments.
660
03/02/2021 12:29:52 0 0
bbc
Can you say they're getting nothing from their tutors? Evidence?
Remember too university lecturers and tutors aren't "teachers" in the school sense. There is a high emphasis on self study at university - that's why they say you're "reading" a subject, not being taught it. Understand the roles, please.
32
02/02/2021 10:27:11 4 8
bbc
What, and deny tory supporting capitalists millions. Not going to happen. Covid is a disaster poor but an opportunity for the wealthy capitalists.
93
02/02/2021 10:34:52 0 1
bbc
Who are these tory supporting capitalists who are making millions from students?
342
02/02/2021 11:37:50 1 0
bbc
Student loans are owned by private companies not the government. Party donors - check it out. Follow the money.
54
02/02/2021 10:29:49 50 11
bbc
Controversial I know, but I'd make certain degrees free for the value they add to society - and that's where we'll disagree. I'm talking about Dr's, Nurses, for instance - old style 'professions', but modernised for today's world.

You want to do a 'fluffy' degree to further yourself, no problem, but pay for it.

We now debate 'fluffy'.
94
02/02/2021 10:34:57 13 0
bbc
When the gov raised fees to 9 grand a year, the plan was always to have various fees for different courses, I.e. a course in being a hedge fund manager should cost more than a degree in nursing as the potential earnings are different.
But universities just saw the £££s and students paid it.
8
02/02/2021 10:23:16 89 59
bbc
Let us remember that Labour introduced fees and the Liberal Democrats trebled the fees. So maybe the Tories will undo the actions of left wing parties who clearly shafted young people with massive debt.
95
02/02/2021 10:35:12 9 4
bbc
I must have missed when the Lib Dems were in power, I could have sworn they were the minority party in a coalition with the Tories, meaning the Tories had the final say. Also the Lib Dems aren't left wing (why on earth would they have agreed to a coalition with the Tories if they were), they're a centrist party.
46
dan
02/02/2021 10:29:06 33 9
bbc
How does this have up votes? A literal rewriting of history. Lib Dems supported the TORIES in tripling the fees.
It's because Tory bots on HYS will upvote any old lie and made up rubbish. Removed
97
02/02/2021 10:35:26 1 2
bbc
Every ‘expert’ interviewed by the BBC Radio have got degrees. They all start every answer with ‘So’. So, they do have a some use.
354
02/02/2021 11:42:25 0 0
bbc
"Expert"? Hmmm
8
02/02/2021 10:23:16 89 59
bbc
Let us remember that Labour introduced fees and the Liberal Democrats trebled the fees. So maybe the Tories will undo the actions of left wing parties who clearly shafted young people with massive debt.
98
02/02/2021 10:35:36 11 1
bbc
If you think Blair's Labour was left-wing you're having a laugh. They privatised everything! Tony Blair's New Labour was Margaret Thatcher's greatest achievement, according to Margaret Thatcher. Starmer today is at risk of actually being out-flanked on the left by the current chancellor.
8
02/02/2021 10:23:16 89 59
bbc
Let us remember that Labour introduced fees and the Liberal Democrats trebled the fees. So maybe the Tories will undo the actions of left wing parties who clearly shafted young people with massive debt.
99
02/02/2021 10:36:04 7 3
bbc
Liar.
63
02/02/2021 10:31:26 3 4
bbc
But it is called 'Have Your Say'! It is a tiny corner of free speech.
100
02/02/2021 10:36:05 7 2
bbc
Am I the only one that sees the irony in someone talking about free speech on a post which critises the BBC for its free speech? You can have any opinion you like, as long as I agree with it..... Utterly ridiculous.