Student Loans

[man in the corner shop]

I know we have touched on this before.


Watch the video in the link. 
 "How did you all pay for your education?"

I agree it is a misselling scandal.

https://bsky.app/profile/peterstefanovic...6fdavlnc2u

[baggy1]

Probably the biggest scandal, based on numbers impacted, of the last couple of decades. This is the big win that Labour need at this moment and sometimes you have to say, fuck the economics of it just do it. Refund all interest payments and reset the rules. Like he said, we all benefit from an educated society.

[richbaggie]

https://x.com/i/status/2019559915220840689

Wasn't the only thing that Oli Dugmore nailed last night. Impressive performance all round.

[Protheroe]

Probably the biggest scandal, based on numbers impacted, of the last couple of decades. This is the big win that Labour need at this moment and sometimes you have to say, fuck the economics of it just do it. Refund all interest payments and reset the rules. Like he said, we all benefit from an educated society.

To be fair, their whole programme so far has been based on that premise.

Much fairer and much more sustainable to introduce a Graduate Tax for all graduates.

[baggy1]

How would that work Proth?

[Borin' Baggie]

Probably the biggest scandal, based on numbers impacted, of the last couple of decades. This is the big win that Labour need at this moment and sometimes you have to say, fuck the economics of it just do it. Refund all interest payments and reset the rules. Like he said, we all benefit from an educated society.

You don't need to refund interest payments. That is not what the students were lied about. 

The repayment threshold needs to increase, they were told by the government in 2010 that it would increase in line with inflation and the post-2015 Conservatives and now the current Labour government have failed to uphold that.

[baggy1]

I still think it would be a much needed win for Labour if they did something above and beyond here. We have a generation that received education for free and as a country we have benefitted from that, a big rethink of the current situation is needed. In any loan situation where the interest exceeds the capital, as appears to be the case in a number of examples here, then the structure is fundamentally wrong.

[Borin' Baggie]

It's populist bullshit that only helps the highest earners while screwing anyone earning £65k or less who will still be shafted by the repayment threshold being frozen and still isn't going to pay off the "loan" within 30 years. The interest isn't the problem, it's deliberately structured that way to function as a defacto graduate tax. What Labour need to do is increase the student fees to £13.5k per annum, reintroduce grants for poor households, bin off Plan 5 and bring back Plan 2 because Plan 5 is bullshit and up the repayment threshold. But they're too unimaginative and scared of the headlines doing the right thing will generate.

I am fed up of social democrats being lured in with economic nonsense, it's bad enough on the left of the Lib Dems but Labour are absolutely dominated by this crap.

[baggy1]

Some questions for those of us just chatting the day away - What is populist bullshit? What is plan 2 and what is plan 5?

I understand your sentiment about headlines but if, on top of everything else that will get twisted by the media, Labour increase tuition fees to £13.5k with all the other points, what do you think will be headlined?

[Borin' Baggie]

Scrapping the interest is populist bullshit.

Plan 2 is the old student loan repayment plan that acts as a graduate tax

Plan 5 is the current one that is over 40 years.

And I don't care about the headlines, have you seen the state of funding for universities right now, especially now they've been forced to cut back on using international students to subsidiss domestic students? The fucking Engineering Science at Oxford is struggling, Oxford. They're making a loss on every domestic student.