If I had a quid for everytime this was posted I’d have enough to clear this man’s student loan 🤣
People bitch about student loans but imagine giving a 21 year old £60k of credit and saying don’t worry about it.
To pay this much reposted OP is on at least £70k a year, make some voluntary contributions if you want to bring down your debt.
We’re not paying off loans, we’re just renting education at this point
Loans are all scam by nature, because of interest rates.
Dudes making approx 70k a year and minimum repayment amount with the audacity to explain
Student loans are graduate taxes at this point, thanks Tony.
u/bot-sleuth-bot
I’ve done a lot of weird shit in my life, but it certainly never occurred to me to “pay back” my student loans.
Honestly, I don’t know how you guys come up with this stuff.
What the hell kind of payment structure even allows for this to be an option?
Then pay more than £300…
Genuine question, I’ll admit to being a bit ignorant with regards to student stuff but what are these loans actually for? What are they used to pay for?
Have you tried paying more?
So in 3 years you never wondered how to pay it off more effectively? Three years? It’s a simple calculation you know.
Is this legit? He is paying down 5% of the loan each year but negated by 5% interest applied on loan?
Sounds like you should have taken a few math courses where they taught simple interest calculations and amortization.
Damn my interest rate is only 2.5% what’s yours?
I owe them eleven grand from 2004 and I’ve only had to pay back forty two quid. It’s means tested so if I earn over a certain amount, I have to start paying it back. I’ve never earned over the amount that would kickstart paying this money back. Theres gotta be a silver lining to being a menial worker, and that’s it right there.
Don’t know if it’s because I’m in Scotland or if it’s UK wide?
Paying off your student loan is dumb unless you’re earning £100k+ (or more) change my mind. The amount of your salary you’d have to sacrifice to even pay off the interest is huge, let alone actually start to make a dent in the loan amount. There’s no risk of defaulting if you suddenly lose your income so it doesn’t have the same risks as a normal loan.
Its painful because it was pushed onto us as the norm after finishing college. So now it’s just another tax eating into my wage like National Insurance.
I hope the degree was in something useful. You can’t put a price on Hegelian dialecticism.
Sounds like he needs to be paying more than 300 quid.
It’s been said before but student loan is a tax on working class people. Rich kids had theirs paid by parents but these loans almost never get paid off. They exist to garnish the salaries of the working class who dared to try and get an education. It hampers social mobility
I owed 9K when I left in 2006, I owe 11k now and I have been paying a minimum of 200 a month for nearly 20 years.
unlike the cohort of students after me, mine never gets wiped. it will follow me to the grave.
they really knew how to financially shaft 18 year olds, it’s practically racketeering.
25 comments
The interest rates on student loans are crazy!
61,586th repost of this Tweet
If I had a quid for everytime this was posted I’d have enough to clear this man’s student loan 🤣
People bitch about student loans but imagine giving a 21 year old £60k of credit and saying don’t worry about it.
To pay this much reposted OP is on at least £70k a year, make some voluntary contributions if you want to bring down your debt.
We’re not paying off loans, we’re just renting education at this point
Loans are all scam by nature, because of interest rates.
Dudes making approx 70k a year and minimum repayment amount with the audacity to explain
Student loans are graduate taxes at this point, thanks Tony.
u/bot-sleuth-bot
I’ve done a lot of weird shit in my life, but it certainly never occurred to me to “pay back” my student loans.
Honestly, I don’t know how you guys come up with this stuff.
What the hell kind of payment structure even allows for this to be an option?
Then pay more than £300…
Genuine question, I’ll admit to being a bit ignorant with regards to student stuff but what are these loans actually for? What are they used to pay for?
Have you tried paying more?
So in 3 years you never wondered how to pay it off more effectively? Three years? It’s a simple calculation you know.
Is this legit? He is paying down 5% of the loan each year but negated by 5% interest applied on loan?
Sounds like you should have taken a few math courses where they taught simple interest calculations and amortization.
Damn my interest rate is only 2.5% what’s yours?
I owe them eleven grand from 2004 and I’ve only had to pay back forty two quid. It’s means tested so if I earn over a certain amount, I have to start paying it back. I’ve never earned over the amount that would kickstart paying this money back. Theres gotta be a silver lining to being a menial worker, and that’s it right there.
Don’t know if it’s because I’m in Scotland or if it’s UK wide?
Paying off your student loan is dumb unless you’re earning £100k+ (or more) change my mind. The amount of your salary you’d have to sacrifice to even pay off the interest is huge, let alone actually start to make a dent in the loan amount. There’s no risk of defaulting if you suddenly lose your income so it doesn’t have the same risks as a normal loan.
Its painful because it was pushed onto us as the norm after finishing college. So now it’s just another tax eating into my wage like National Insurance.
I hope the degree was in something useful. You can’t put a price on Hegelian dialecticism.
Sounds like he needs to be paying more than 300 quid.
It’s been said before but student loan is a tax on working class people. Rich kids had theirs paid by parents but these loans almost never get paid off. They exist to garnish the salaries of the working class who dared to try and get an education. It hampers social mobility
I owed 9K when I left in 2006, I owe 11k now and I have been paying a minimum of 200 a month for nearly 20 years.
unlike the cohort of students after me, mine never gets wiped. it will follow me to the grave.
they really knew how to financially shaft 18 year olds, it’s practically racketeering.
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