I was one of the first students to be charged tuition fees. I missed out on getting a grant by taking a year out. This was possibly the most expensive year out ever as I left university with debts of around £12,000. I now pay this back at a rate of 9% of everything I earn over £15,000 pa. Once interest is taken into account, I pay about £500 off my loan each year, which means effectively I am paying a graduate tax, as I will pay my loan off roughly around the same time as my mortgage.
I do feel that my generation of students have been pretty much screwed, as not only do we pay a lot for our education, we're also experiencing high house prices - unlike those people who experienced free university education and then benefited from huge growth in the equity in their property - which leaves very little money to save for pensions or anything else. I don't think this country is 'going to the dogs' or all the other things people seem to like to say - I just feel frustrated that the generation above us have benefited from free education and are now so keen to pull up the ladder.
3 comments:
Luckily, I don't think anyone is taking the CBI seriously on this one.. not even the Conservatives.
Maybe we need to think outside the box a bit eg. free higher education, but students entering the workplace are on a higher tax band for the first few years, thus paying for the education they received relative to the financial benefit they got for it.
Why don't we just tax the rich, who by definition are those who made the most of their time at university (or were so clever they didn't need to go?)
Oh no wait, the rich are the ones who fund political parties with big donations....
I am incredibly grateful for the fact I didn't have to pay university fees. It has certainly changed the attitude of students, but I am not convinced for the better.
You are right. You were screwed.
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