Well its that time of year again,

[Squid]

nope not the once a year treat of a leg over, I am blessed but........

A Level Results with students jumping for joy before they depart to Uni for a 3 year bender and a £35k debt for media studies which lets them to a job in a call centre in Swansea..........

Bring back on the job training.

Any of you lot experienced this, this year?

 

[johnduffell]

Thought you were going to remind us to get our letter to Santa out!
Personally I'd not recommend uni as cost effective unless you plan to be a barrister, doctor, teacher etc that need to have a degree.
The rest is just wasting 3 years before you go into paid employment and start doing something useful.
Also may be worth while if you don't know what you want to do and want to pass 3 years of your life without looking like you don't know what to do.

 

[Octopus]

Well ........... I think it all depends on what these "kids" want to get a degree in.

My daughter got her AS results today in maths and further maths - grade A's in both ..................she wants to go to uni to study Physics next year ........... which means debt but given her ability then the right course of action.

My son started an apprenticeship last week , which will allow him to earn while he studies for his HNC ..... University would not have suited him

Horses for courses IMHO

 

[Madocks]

We have this in Cardiff;

Also known as the Mc Donalds recruitment center.

 

[johnduffell]

study Physics next year ........... which means debt but

Also on the plus side most of the debt doesn't appear on your credit file, it's more like a higher rate of tax if you earn over a certain limit, and you have no obligation to clear it all down

 

[Baddegg]

I thought they just went bankrupt to clear it....

 

[Octopus]

Also on the plus side most of the debt doesn't appear on your credit file, it's more like a higher rate of tax if you earn over a certain limit, and you have no obligation to clear it all down

And if you get low paid jobs, the debt is written off after 30 years ....

Interestingly, the changes introduced by the coelition in about 2012 means that the rate of repayment would be lower than the earlier loans, and the person had to be earning more before repayments kick in ....

 

[johnduffell]

And if you get low paid jobs, the debt is written off after 30 years ....

Interestingly, the changes introduced by the coelition in about 2012 means that the rate of repayment would be lower than the earlier loans, and the person had to be earning more before repayments kick in ....

Yeah that's what i meant about your needn't clear it all, it just depends on your earning.
They should just bite the bullet and call it a graduate tax, then it would take away that debt sigma and people who got the most out of the education would put more beck in the long run. They'd be better to put more people into training for manual work and move up the ladder that way rather then teaching all those other things.

 

[Squid]

Well ........... I think it all depends on what these "kids" want to get a degree in.

My daughter got her AS results today in maths and further maths - grade A's in both ..................she wants to go to uni to study Physics next year ........... which means debt but given her ability then the right course of action.

My son started an apprenticeship last week , which will allow him to earn while he studies for his HNC ..... University would not have suited him

Horses for courses IMHO

With certain degrees you can get a bursary from certain companies for certain subjects.

 

[Squid]

And if you get low paid jobs, the debt is written off after 30 years ....

Interestingly, the changes introduced by the coelition in about 2012 means that the rate of repayment would be lower than the earlier loans, and the person had to be earning more before repayments kick in ....

Try to get a mortgage with a debt hanging around your neck.

My kids went through the older system where the fees where lower, they had a good time, eldest did business at Surrey and got a 2.1, in between and did a gap year in Fort Lauderdale working in a hotel and earn't a load of cash. Trouble was when he graduated the recession hit and couldn't find a job so went to Peru for 9 months to teach English to businessmen on his return did a part time job for a company by a woman in to digital media then from that little start he got in to a fledgling market and is now climbing the corporate ladder, married to the girl he met in Fort Lauderdale and went to Peru to spend time with and work.

Youngest went to Exeter and studied German and Business also studied in Graz in Austria and did a 6 month placement in Vienna for LK Walter and walked away with a 1st, carried on working in Logistics and moved to Frankfurt, now in Hamburg and left his job and took a pay cut starting at a US based Logistics/Freighting company, currently in San Francisco for two weeks of training.

I do understand things must be harder now but the kids need to be driven to achieve success and to get somewhere, some of the new milenials believe that getting a degree opens the door to success and loads of money, it doesn't and jeeeez there are also some sh!te degrees out there that if a business was selling would be sued under the trades description act, in other countries the degrees are longer and harder as a lot of the courses means you end up with a Masters.

Bit long winded but hey ho......

 

[johnduffell]

Try to get a mortgage with a debt hanging around your neck.

Exactly that's my point, is hardly a debt, it doesn't appear on your credit file or anything, it's almost just an extra tax and they should just rename it and rid the confusion and connotations of debt.

 

[Octopus]

Yeah that's what i meant about your needn't clear it all, it just depends on your earning.
They should just bite the bullet and call it a graduate tax, then it would take away that debt sigma and people who got the most out of the education would put more beck in the long run. They'd be better to put more people into training for manual work and move up the ladder that way rather then teaching all those other things.

No government, of any color wants to be perceived to be raising taxes ...

That's why we still have tax and NI .... These should have been merged decades ago .....

 

[Squid]

Exactly that's my point, is hardly a debt, it doesn't appear on your credit file or anything, it's almost just an extra tax and they should just rename it and rid the confusion and connotations of debt.

When you apply for a mortgage you need to list your outgoings and costs........

 

[Squid]

No government, of any color wants to be perceived to be raising taxes ...

That's why we still have tax and NI .... These should have been merged decades ago .....

Thats why VAT is at 20%, we also have VAT on utilities and insurance policies that we never had 30 years ago, whats it known as, secondary taxation oh and the biggest rip of is Stamp Duty, why the hell do you have to pay a tax to buy a house?

 

[Octopus]

^^ i would rather pay tax when buying a house, than capital gains when selling

 

[Octopus]

^^ VAT on domestic energy is courtesy of the EU ....

 

[Octopus]

Delete

 

[johnduffell]

When you apply for a mortgage you need to list your outgoings and costs........

Yes student loan comes out your pay slip beside the line for tax and ni. I think we are violently in agreement!

 

[Nigel]

Student loans are not debts.

 

[Squid]

Student loans are not debts.

Okay, its a graduate contribution scheme, a little bit like Hire Purchase on your education.

Maybe I am old fashioned but if you owe someone or institution money then that could be classed as a loan, therefore you are in debt to that person/company. I was in debt to the mortgage company and fully didn't own my house but I paid it off so no debt and a little more freedom.