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Student Loans


Hardhat

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As discussed elsewhere, here's a thread on student loans.

- have you got one?

- have you paid one off?

- are they fit for purpose?

- what do you think of the entire system?

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3 hours ago, Hardhat said:

As discussed elsewhere, here's a thread on student loans.

- have you got one?

- have you paid one off?

- are they fit for purpose?

- what do you think of the entire system?

No, no, no, terrible...commoditizes education and fails to achieve its intended objective I.e allow those with the talent but not the funds access. Traditional system of grants/bursaries for the less well off (but academically able) far more effective.

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Bad system.

There should just be a 2% employers' NI surcharge on everyone that employs a graduate.

Makes the ones that got it free pay something back - and would make employers think if the really need a graduate for the role.

 

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Student loans now are not just for Univesity, want to do a bit of vocational training down your local tec?  That’ll cost you loads but a loan is available from the very helpful student loan company. 

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I was jsut chatting to someone involved in finance at a Uni in the midlands.Grade requirements being dropped.Foering student numbers dropping.Uni in substantial debt.Lots of new building.

 

When I'm in Coventry,you can see all the cranes building uni accomodation.Be under no illusion,when this Uni bubble pops,it will be an absolute disaster-not jsut for the kids with a £50k millstone around their necks being hcarged 7% per annum for the privilege but also the investors in the uni ponzi and the taxpayers that will pick up the tab in termns of default risk and bail outs for failed uni's.

Too mnay graduates,not enough grad jobs imho.

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The sole objective of student loans is to normalise DEBTslavery for as many plebs as possible, for as long as possible, as early in life as possible. On those scores it seems pretty effective to my acute eye

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5 hours ago, Wig said:

The sole objective of student loans is to normalise DEBTslavery for as many plebs as possible, for as long as possible, as early in life as possible. On those scores it seems pretty effective to my acute eye

It's also effectively money printing as loads of the money already spent into the economy will never be paid back.

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18 hours ago, sancho panza said:

I was jsut chatting to someone involved in finance at a Uni in the midlands.Grade requirements being dropped.Foering student numbers dropping.Uni in substantial debt.Lots of new building.

 

When I'm in Coventry,you can see all the cranes building uni accomodation.Be under no illusion,when this Uni bubble pops,it will be an absolute disaster-not jsut for the kids with a £50k millstone around their necks being hcarged 7% per annum for the privilege but also the investors in the uni ponzi and the taxpayers that will pick up the tab in termns of default risk and bail outs for failed uni's.

Too mnay graduates,not enough grad jobs imho.

I think here we have a double whammy...student numbers are dropping as 1. Demographically there are fewer 18yr olds, and 2. others are seeing the mediocre jobs newly minted graduates are getting and realising that they don't equate to the promises made on the Uni open days.

Add this to the lack of foresight show by university VCs in allowing large infrastructure projects (with a ten year depreciation cycle) to go ahead, and you can see that banking CEOs are not the only ones grossly overpaid for poor decision making.

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Actually this just got me thinking...the newly built Uni halls are now very much ensuite bedsits in blocks, these are surrounded by facility blocks I.e. sports complex, computing/libraries, minimarket/laundry etc...

perhaps this is part of governments housing plan I.e when the uni goes bust the government steps in and bails them out by buying a new self contained housing scheme?!...add to this, you won't have to pay housing benefits to the newly graduated (read unemployed) graduates, as they will still be insitu...clever eh!?

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22 hours ago, sancho panza said:

I was jsut chatting to someone involved in finance at a Uni in the midlands.Grade requirements being dropped.Foering student numbers dropping.Uni in substantial debt.Lots of new building.

 

When I'm in Coventry,you can see all the cranes building uni accomodation.Be under no illusion,when this Uni bubble pops,it will be an absolute disaster-not jsut for the kids with a £50k millstone around their necks being hcarged 7% per annum for the privilege but also the investors in the uni ponzi and the taxpayers that will pick up the tab in termns of default risk and bail outs for failed uni's.

Too mnay graduates,not enough grad jobs imho.

Weve a coventry uni site ... in scarborough.

Why ffs?

Coventry is in sw cornerof uk. Scabbys in ne.

Why the fuck?

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14 hours ago, Errol said:

It's also effectively money printing as loads of the money already spent into the economy will never be paid back.

Worse than you could imagine.

https://ftalphaville.ft.com/2018/07/18/1531923576000/Taking-education-into-account/

Its all shufted off accounts til the write off.

So theres billions everyyear which is hidden until 30 years later when its written off.

Beyond insane.

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reformed nice guy

I think that in America the Democrats do not attack student loans too much, knowing that when a critical mass of eligible voters is reached in the future they will run on the promise of "debt relief"

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On 28/10/2018 at 13:20, reformed nice guy said:

I think that in America the Democrats do not attack student loans too much, knowing that when a critical mass of eligible voters is reached in the future they will run on the promise of "debt relief"

No.

The DEMs are getting a kick back from the financers.

Loans are loans - something you can default on.

If you cannot default on it then its not a loan, its slavery.

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On 27/10/2018 at 14:38, sancho panza said:

the taxpayers that will pick up the tab in termns of default risk and bail outs for failed uni's.

The net effect will therefore be the same as the old days (taxpayer funded) except those in the sector have made off like bandits and the city boys will buy the loan book for pennies on the pound.  All the while students, some of whom should never had gone, will have massive debts and bits of toilet paper and polos can brag about a fake short term reduction in the unemployed youth.  And corporates get to avoid investing in real jobs.  Would end up having been cheaper for the sap tax payer to have kept the old system but eff them.

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So many people with degrees, shame about the lack of an increase in corresponding real graduate jobs.  There's been no intelligence virus out there so the same cream (or now worse, the best connected) will rise to the top and be skimmed off by the real graduate employers as before, while the rest languish with their debt and the missed opportunity of becoming an employed well paid plumber or whatever.  Oh well, at least mum and dad were so proud on graduation day.  An expensive day that.  

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If I had to do it all over again now, I would skip the degree and invest the £50k or whatever in my own business.  Or would have studied for very little cost in English in Europe.  All I would have needed was a mentor with their head screwed on - alas not many of those, especially in the media who probably like the way things have turned out.

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The dinner party of the future:

So what do you do? 

I'm a <insert trade>.  Started young, learnt me trade, turned out I had the real smarts, expanded me business, and now here I am. 

Wow, anyways must get back to my graduate level catering job!

 

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27 minutes ago, Harley said:

If I had to do it all over again now, I would skip the degree and invest the £50k or whatever in my own business.  Or would have studied for very little cost in English in Europe.  All I would have needed was a mentor with their head screwed on - alas not many of those, especially in the media who probably like the way things have turned out.

HaHaHaHaHaHaHA.

Might as well look for a Middlesbrough virgin girl.

The UK HE sector is pretty much  devoid  on people with their head screwed on with vocational/employable skills.

Youll get that in the US unis like MIT and CALTEHC .

Youll get a bit i nthe more applied vocation places in the UK - Cambridge, UMIST, York, Kent, Soton, Bristol. But only in some schools.

95% of HE revels in being useless.

 

 

 

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46 minutes ago, spygirl said:

HaHaHaHaHaHaHA.

Might as well look for a Middlesbrough virgin girl.

The UK HE sector is pretty much  devoid  on people with their head screwed on with vocational/employable skills.

Youll get that in the US unis like MIT and CALTEHC .

Youll get a bit i nthe more applied vocation places in the UK - Cambridge, UMIST, York, Kent, Soton, Bristol. But only in some schools.

95% of HE revels in being useless.

 

 

 

I wouldn't look to the ed sector for anything any more other than nonsense and grief!

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UnconventionalWisdom
1 hour ago, Harley said:

Oh well, at least mum and dad were so proud on graduation day.  An expensive day that.  

I skipped mine as I questioned the uni setup then. Had a mate who had a crap tutor and then failed his exams. Thought it was bollocks to hear from a vice chancellor telling 1000s of students they are special and have achieved so much. 

Went travelling around Europe instead... Much better use of my time. 

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On 28/10/2018 at 09:24, MrXxx said:

I think here we have a double whammy...student numbers are dropping as 1. Demographically there are fewer 18yr olds, and 2. others are seeing the mediocre jobs newly minted graduates are getting and realising that they don't equate to the promises made on the Uni open days.

Add this to the lack of foresight show by university VCs in allowing large infrastructure projects (with a ten year depreciation cycle) to go ahead, and you can see that banking CEOs are not the only ones grossly overpaid for poor decision making.

Very true.The UK HE sector is well aware there are less 18 year olds looming.Yet spend like fu== they did.....

I thin k there's a real run off now from kids who';ve graduated with degrees telling siblings not to bother.

On 28/10/2018 at 13:05, spygirl said:

Weve a coventry uni site ... in scarborough.

Why ffs?

Coventry is in sw cornerof uk. Scabbys in ne.

Why the fuck?

Apparently there's a vibrant online degree community out there.London uni and a host of others are doing them online for a faction of the price.Same Uni certificate.

4 hours ago, spygirl said:

No.

The DEMs are getting a kick back from the financers.

Loans are loans - something you can default on.

If you cannot default on it then its not a loan, its slavery.

Like that way of looking at it.

3 hours ago, Harley said:

So many people with degrees, shame about the lack of an increase in corresponding real graduate jobs.  There's been no intelligence virus out there so the same cream (or now worse, the best connected) will rise to the top and be skimmed off by the real graduate employers as before, while the rest languish with their debt and the missed opportunity of becoming an employed well paid plumber or whatever.  Oh well, at least mum and dad were so proud on graduation day.  An expensive day that.  

Ne'er a truer word etc...

3 hours ago, Harley said:

The net effect will therefore be the same as the old days (taxpayer funded) except those in the sector have made off like bandits and the city boys will buy the loan book for pennies on the pound.  All the while students, some of whom should never had gone, will have massive debts and bits of toilet paper and polos can brag about a fake short term reduction in the unemployed youth.  And corporates get to avoid investing in real jobs.  Would end up having been cheaper for the sap tax payer to have kept the old system but eff them.

Yep,yep,yep.yep.Looked for a bit that didn't warrant a highlight but struggled.

 

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On 26/10/2018 at 16:04, Hardhat said:

As discussed elsewhere, here's a thread on student loans.

- have you got one?

- have you paid one off?

- are they fit for purpose?

- what do you think of the entire system?

Good idea for a thread.

 

As above:

 

- have you got one? - Had a loan to the tune of £18k when I graduated in 2005.

- have you paid one off? - Paid it off in 2006.

- are they fit for purpose? - I personally think it allows people to kick the can down the road - do students think about the application of their degree to the world of work? I didn't, and got a useless degree and £18k of debt as a result. 

- what do you think of the entire system? - Those 4 years would have been better spent learning real skills in the world of work. The fact I was allowed a loan with no assessment of the degree, how it might help me find work / a job, and how I might pay it back is criminal. 

 

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23 hours ago, Harley said:

The net effect will therefore be the same as the old days (taxpayer funded) except those in the sector have made off like bandits and the city boys will buy the loan book for pennies on the pound.  All the while students, some of whom should never had gone, will have massive debts and bits of toilet paper and polos can brag about a fake short term reduction in the unemployed youth.  And corporates get to avoid investing in real jobs.  Would end up having been cheaper for the sap tax payer to have kept the old system but eff them.

Really couldn't have put it better myself, spot on!

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23 hours ago, Harley said:

If I had to do it all over again now, I would skip the degree and invest the £50k or whatever in my own business.  Or would have studied for very little cost in English in Europe.  All I would have needed was a mentor with their head screwed on - alas not many of those, especially in the media who probably like the way things have turned out.

Unfortunately, the academics that give the advice about the real world to students have no experience of it themselves...and as for using the £50k to start your own business, most students don't know what they want to do career wise (hence just drifting onto uni), let alone having the motivation to start their own business!

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8 hours ago, azzuri82 said:

The fact I was allowed a loan with no assessment of the degree, how it might help me find work / a job, and how I might pay it back is criminal. 

Good way of putting it. Would be an issue if it were say a mortgage.  Maybe this could come back and bite them, with the taxpayer taking the write off.

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