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Professions 'reserved for rich'

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Professions 'reserved for rich'

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veato

I haven't seen my friends in so long

Joined: Fri Apr 24, 2009 7:17 am
Posts: 5550
Location: Nottingham

Re: Professions 'reserved for rich'

JJW009 wrote:


	cloaked_wolf wrote: My debt is around £20,000. The money they take pays off the interest only and that's £200 a month they take!

WTF? I thought student loans were supposed to be low or zero interest. If you're paying 12% you're being totally screwed. I'm currently paying around 4% on my debts.

I think the interest follows the rate of inflation or something daft. I know last year my loan actually grew! wtf

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Thu Jul 23, 2009 8:32 pm

cloaked_wolf

What's a life?

Joined: Thu Apr 23, 2009 8:46 pm
Posts: 10022

Re: Professions 'reserved for rich'

JJW009 wrote:


	cloaked_wolf wrote: My debt is around £20,000. The money they take pays off the interest only and that's £200 a month they take!

WTF? I thought student loans were supposed to be low or zero interest. If you're paying 12% you're being totally screwed. I'm currently paying around 4% on my debts.

It's probably a lot less than £200 but not far off. The SLC site says they take 9% of your income over £15,000. I presume this is gross rather than net. Just done a quick calculation - they're supossed to be taking around £120 but I know they're taking much more. The interest rate is meant to be linked to RPI. Not sure how that affects me now.

Bear in mind, this is the Govt. They'll screw you over harder than any bank or company.

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Thu Jul 23, 2009 8:35 pm

l3v1ck

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Joined: Fri Apr 24, 2009 10:21 am
Posts: 12700
Location: The Right Side of the Pennines (metaphorically & geographically)

Re: Professions 'reserved for rich'

Remember there's interest on the loan and the loan repayment.

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Fri Jul 24, 2009 7:39 am

Linux_User

I haven't seen my friends in so long

Joined: Tue May 05, 2009 3:29 pm
Posts: 7173

Re: Professions 'reserved for rich'

Of course you could always do what some graduates do - seek better jobs in other countries and stick two fingers up at the Student Loans Company.

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	timark_uk wrote: That's your problem. You need Linux. That'll fix all your problems. Mark

Fri Jul 24, 2009 1:25 pm

ProfessorF

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Joined: Thu Apr 23, 2009 7:56 pm
Posts: 12030

Re: Professions 'reserved for rich'


	Linux_User wrote: Of course you could always do what some graduates do - seek better jobs in other countries and stick two fingers up at the Student Loans Company.

Don't you have to be working exclusively abroad for 5 years or something?

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Fri Jul 24, 2009 1:30 pm

Linux_User

I haven't seen my friends in so long

Joined: Tue May 05, 2009 3:29 pm
Posts: 7173

Re: Professions 'reserved for rich'

ProfessorF wrote:


	Linux_User wrote: Of course you could always do what some graduates do - seek better jobs in other countries and stick two fingers up at the Student Loans Company.

Don't you have to be working exclusively abroad for 5 years or something?

Most of the people I know who have done it (4 and counting) go for good. :shock:

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Fri Jul 24, 2009 1:32 pm

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