This will cost the Tories big time at the next election.
So is this last part of that story complete crap then?
A Department for Education spokeswoman said: "As has always been the case, borrowers will only ever pay back what they can afford so no-one will see monthly repayments rise and only the highest earners will pay the top rate of interest."The department says that the loans give "protections other lenders don't offer", such as not requiring repayments if income falls below a threshold of £21,000 and that any unpaid debts are paid off after 30 years.
Nothing like a bit of loony left hyperbole to stir up sentiment.
So is this last part of that story complete crap then?
A Department for Education spokeswoman said: "As has always been the case, borrowers will only ever pay back what they can afford so no-one will see monthly repayments rise and only the highest earners will pay the top rate of interest."The department says that the loans give "protections other lenders don't offer", such as not requiring repayments if income falls below a threshold of £21,000 and that any unpaid debts are paid off after 30 years.
Nothing like a bit of loony left hyperbole to stir up sentiment.
A tenner to SZ say's it won't. You in?
Edit: Actually, don't bother. Should the Tories lose there's no way of implicitly proving either it has or hasn't.
its the loony right that are in power and responsible for these policies.So is this last part of that story complete crap then?
A Department for Education spokeswoman said: "As has always been the case, borrowers will only ever pay back what they can afford so no-one will see monthly repayments rise and only the highest earners will pay the top rate of interest."The department says that the loans give "protections other lenders don't offer", such as not requiring repayments if income falls below a threshold of £21,000 and that any unpaid debts are paid off after 30 years.
Nothing like a bit of loony left hyperbole to stir up sentiment.
Mate of mine, fellow Shrimper, has a student loan. He is in his 30s..... so he has had it for some time. Because you don't have to repay it until you earn a certain amount, he hasn't paid much of it. He now finds himself in a job where he can't afford to be promoted to a better pay rate because the rise takes him over the threashold and he ends up worse off.
What a bonkers system.
Mate of mine, fellow Shrimper, has a student loan. He is in his 30s..... so he has had it for some time. Because you don't have to repay it until you earn a certain amount, he hasn't paid much of it. He now finds himself in a job where he can't afford to be promoted to a better pay rate because the rise takes him over the threashold and he ends up worse off.
What a bonkers system.
Looking at this from a different perspective, and putting politics to one side for a second.
We seem to be burdening young people with debt across a multitude of areas, from housing to car insurance and of course student debt.
Whilst I appreciate that we have encouraged ever higher numbers into extended education, if the outcome is that you are boxed in by lack of affordability and opportunity in other areas, should we not at least look towards Business to foot some of cost as ultimately they get the benefit.
It doesn't necessarily have to be a tax, but could be via sponsorship or for larger employers to be able to award degree level education in their own right through accredited systems.
Yep. My best mate's wife has a Phd but won't take a job that takes her over the limit.
I have wondered about this as a lot of people are saying this. I always thought that you paid a percentage of what ever you earned above the Threshold , currently 17775
http://www.studentloanrepayment.co.uk/portal/page?_pageid=93,6678511&_dad=portal&_schema=PORTAL
So if you got a rise which would put you on , say 18,775, you would pay £90 a year , which combined with you tax NI etc would still leave you £500 a year better off . If your rise put you just £100 above the threshold it would be £9 a year repayment.
It looks like anyone who ends up worse off because they have to pay back the loan really should look at where the remaining 50% of their rise is going (tax ,NI and pensions excluded) .
Sounds like a great attitude in life. People who have used tax payers money for an adult education should pay it back.
Should be the other way round if you earn over a certain amount you should pay nothing back as your already paying enough tax and your education has been worth it.