Because 3000% tends to be a bit of a difficult thing to parse (and because a lot of people won’t RTFA, it’s an increase from 200 in last May to 6531 (so abit over 3000%..). So fairly large in absolute terms too, even if it is a fairly small proportion of those with a student loan.
Can’t picture someone with £170,000 of student debt, that’s insane. MBBS + intercalation + Masters + PhD funding through SFE?
When I left Uni in 2005 I think I had 9k debt. I paid it off within a year. I did a fairly useless Humanities degree at an okay University, and walked into a £34k job – after bumming around travelling for a year beforehand. That was approaching 20 years ago. Nowadays I doubt I’d have even managed to find a job in Greggs, and my travelling would have probably been confined to long walks in the park! The difference in opportunities between now and then are staggering. I don’t even remember feeling particularly concerned about finding a good job. I just assumed everything would be fine, and it was.
I was one of the last few that seemingly managed to “establish” themselves before the 2008 credit crunch hit. Things got a bit harder following the crash, but I didn’t have a huge debt around my neck, and I had a reasonably good CV that kept things going for me.
It boggles the mind the nonsense young people have to put up with nowadays. I know £100k+ loans are still comparatively rare, but the fact £45k is now considered the average is terrifying.
I think history will judge the way we have treated our young in the last decade or so very harshly.
I feel pretty jaded as a late 30 something. I can only imagine the rage that the young must feel – although I get the sense many have ‘checked out’ in terms of politics and caring about the economy. Probably because the reality is so stark.
Looking at the way interest accumulates on them this number can surely only go up?
Im paying off my postgrad loan at about £100 a month and it’s accumulated £1000 interest already ( including my repayments ).
Bit of a scam for everyone involved.
Mines not far under 70k, and unless I decide to go private sector I’ll likely never repay it in full.
7 comments
Archive link – https://archive.ph/LxE7b
not a great use of statistics there
Because 3000% tends to be a bit of a difficult thing to parse (and because a lot of people won’t RTFA, it’s an increase from 200 in last May to 6531 (so abit over 3000%..). So fairly large in absolute terms too, even if it is a fairly small proportion of those with a student loan.
Can’t picture someone with £170,000 of student debt, that’s insane. MBBS + intercalation + Masters + PhD funding through SFE?
When I left Uni in 2005 I think I had 9k debt. I paid it off within a year. I did a fairly useless Humanities degree at an okay University, and walked into a £34k job – after bumming around travelling for a year beforehand. That was approaching 20 years ago. Nowadays I doubt I’d have even managed to find a job in Greggs, and my travelling would have probably been confined to long walks in the park! The difference in opportunities between now and then are staggering. I don’t even remember feeling particularly concerned about finding a good job. I just assumed everything would be fine, and it was.
I was one of the last few that seemingly managed to “establish” themselves before the 2008 credit crunch hit. Things got a bit harder following the crash, but I didn’t have a huge debt around my neck, and I had a reasonably good CV that kept things going for me.
It boggles the mind the nonsense young people have to put up with nowadays. I know £100k+ loans are still comparatively rare, but the fact £45k is now considered the average is terrifying.
I think history will judge the way we have treated our young in the last decade or so very harshly.
I feel pretty jaded as a late 30 something. I can only imagine the rage that the young must feel – although I get the sense many have ‘checked out’ in terms of politics and caring about the economy. Probably because the reality is so stark.
Looking at the way interest accumulates on them this number can surely only go up?
Im paying off my postgrad loan at about £100 a month and it’s accumulated £1000 interest already ( including my repayments ).
Bit of a scam for everyone involved.
Mines not far under 70k, and unless I decide to go private sector I’ll likely never repay it in full.