Anyone employing?

[skyhuck]

Surely that s not a good thing!

 

Correct me if im wrong, but im under the impression that we got into this big mess because of lending/borrowing.

 

Is it a good idea to get students into more and more debt just on the promise they can pay it back in the future when they have more money?!

 

Some of them will be coming out of uni with 40K+ worth's of debt, how is that going to effect them in the future? Will they be able to get a business loan to start up? Will they be able to get a mortgage?

 

It's not a good idea IMO.

 

They are still very young adults making tough decisions on getting into MAJOR debt.

 

Many wont make that jump, and it will probably be the most sensible ones.

 

 

I know a lot will say how hard life is, and they made that decision and it worked out fine but im sure you know loads of people speak BS.

 

 

But then the cons dont really care as its not their crowd with debt problems.

 

Its a downwards spiral for public education, as expected.

 

This is not normal debt, 60% of students will not pay it back, but the 40% that do is better than the country having to fund it (remember far more go to uni than in the old days when it was free)

 

You need to look at is as a tax, not a debt, they won't call it a tax as no politician likes to admit to bringing in a new tax.

 

They only pay it back if they earn enough and even then at a very modest amount. At £21K they pay back something like £350 per year.

 

So if the investment pays off you pay something back, if it doesn't you don't.

 

I would argue that this is the opposite of the crash, people having to pay their way, not getting money for nothing as happened with the properly bubble.

 

If students don't have the intelligence to understand that the new system is better than the old one, (even with the increased fees) then maybe there not really university material.

 

One of my sons will hopefully be going to university in the future, I will encourage him to go for it and feel sure the investment will pay off.

 

I have borrowed large amounts for equipment over the years (I borrowed £30K when I bought my £45K mog) the investments have always payed off.

 

You need to speculate to accumulate.

[Mesterh]

This is not normal debt, 60% of students will not pay it back, but the 40% that do is better than the country having to fund it (remember far more go to uni than in the old days when it was free)

 

You need to look at is as a tax, not a debt, they won't call it a tax as no politician likes to admit to bringing in a new tax.

 

They only pay it back if they earn enough and even then at a very modest amount. At £21K they pay back something like £350 per year.

 

So if the investment pays off you pay something back, if it doesn't you don't.

 

I would argue that this is the opposite of the crash, people having to pay their way, not getting money for nothing as happened with the properly bubble.

 

If students don't have the intelligence to understand that the new system is better than the old one, (even with the increased fees) then maybe there not really university material.

 

One of my sons will hopefully be going to university in the future, I will encourage him to go for it and feel sure the investment will pay off.

 

I have borrowed large amounts for equipment over the years (I borrowed £30K when I bought my £45K mog) the investments have always payed off.

 

You need to speculate to accumulate.

 

 

The big problem is they will be in debt.

 

That is what future lenders will see it as.

 

The fact that 60% wont pay it back is also a big concern!

 

My missus who has a degree and a masters and is working on a PHD said if this was facing her today she would seriously consider not going to uni. I use her as an example as she comes from a poor background and has really worked her way up the academic ladder. She knows more about the way it works than most of us.

 

This is not a good move for the poorer community.

 

 

"You need to speculate to accumulate"

 

Thats also what gambling addicts say.

 

Some will win but many dont.

 

 

I could invest 50K of debt in my business tomorrow but I know it will not help me in the long run atm, thats with my experience in my business, 18 year old kids dont have that info.

 

In 5 years time there will be a lot of kids with big debt problems, that is for sure.

[skyhuck]

The big problem is they will be in debt.

 

That is what future lenders will see it as.

 

The fact that 60% wont pay it back is also a big concern!

 

My missus who has a degree and a masters and is working on a PHD said if this was facing her today she would seriously consider not going to uni. I use her as an example as she comes from a poor background and has really worked her way up the academic ladder. She knows more about the way it works than most of us.

 

This is not a good move for the poorer community.

 

 

"You need to speculate to accumulate"

 

Thats also what gambling addicts say.

 

Some will win but many dont.

 

 

I could invest 50K of debt in my business tomorrow but I know it will not help me in the long run atm, thats with my experience in my business, 18 year old kids dont have that info.

 

In 5 years time there will be a lot of kids with big debt problems, that is for sure.

 

[Mesterh]

 

I could do the same!

 

Im probably not explaining it well enough.

[skyhuck]

I could do the same!

 

Im probably not explaining it well enough.

 

Lenders will not view it like other debt, you only pay in accordance with your earnings, so its not going to be a problem.

 

Do you think lenders dislike high earners because they pay 40% tax??

 

After 30 years what ever if left to pay is cleared by the government.

[swinny]

"You need to speculate to accumulate"

 

Thats also what gambling addicts say.

 

Some will win but many dont.

 

 

I wouldn't necessarily say that just gambling addicts say that lol

 

i say it, i started getting all my gear for working on my own jobs... and am a believer in the fact that you do have to SOMETIMES spend money to accumulate and get you further up the ladder

[Mesterh]

Lenders will not view it like other debt, you only pay in accordance with your earnings, so its not going to be a problem.

 

Do you think lenders dislike high earners because they pay 40% tax??

 

After 30 years what ever if left to pay is cleared by the government.

 

You 100% sure thats how they will see it?

 

21K is not a high earner.

 

 

I pay lots of tax and atm lenders want to know the ins and outs of my arse before they will lend me any money and I have never been over drawn, have a great credit scoring and untold limits on cards I have no debt on.

 

Honestly, listening to the people who have been in this situation its not good.

 

I only speak from their experience and mine while I witnessed it.

 

Making people pay for education is not good, no matter how its sugar coated.

 

It only helps to divide, nothing more.

 

Besides if high achievers earn more they will pay more tax! ie pay for their education so whats the problem.

 

Just kick out the uni wasters which, from MY experience is the middle class idiots.

[blazer]

Just got the lads A-level results, A grades for Forensic science and Sports science and D for History - better than expected, making him think about going to Uni next year. Still he's keen on getting a tree job and doing L3 P/T.

 

All the comments are very interesting to read:thumbup1:

[Yeti]

all my mates who went to uni are still flipping burgers

[fox terrier]

Pity you don't live up here, I would have gave you as much work as you wanted

James W.

conservation Scotland Ltd