UKC

New report on Student Loans

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 Offwidth 21 Jul 2017
http://wonkhe.com/blogs/analysis-mid-life-crisis-loan-repayment-progressive...

"Though the student loan repayment system appears progressive, and is a regularly cited argument in its favour, the analysis that follows illustrates that it can be regressive."
 andyfallsoff 21 Jul 2017
In reply to Offwidth:
I agree completely with this - it is a better phrased description of the complaints I had of the system on the other thread. It's progressive to a point, but rubbish for people in the middle.
Post edited at 16:32
 trouserburp 21 Jul 2017
In reply to Offwidth:

So lower earners mainly will pay back more due to longer period of interest. Also women as lower earners, pay back more.
Everyone but the highest earners paying back more than double what they borrowed!

Poor kids, and us when we have an uneducated/disillusioned workforce.

Lib Dems shame on you (and conservatives but they have no shame)
1
 andyfallsoff 21 Jul 2017
In reply to trouserburp:

To be fair to the Lib Dems, the issue has arisen to a great extent because of the increase in interest on the loans which was a purely Tory change - without the high interest, you don't have the issue that paying off faster is any effective saving, so the cost was flatter across the income curve (not that the higher fees helps, mind).

 trouserburp 21 Jul 2017
In reply to andyfallsoff:

But the Lib Dems promised and got my vote on the basis of that promise that they would not increase tuition fees, then tripled them
 andyfallsoff 21 Jul 2017
In reply to trouserburp:

I understand that (although I think they were left in a pretty rubbish position and had less choice than people make out - do you think they should have refused to form a coalition?).

My point is just that it is the (retrospective) changes to the interest that have made the system unfair in terms of being progressive across the scale (so higher earners don't get a better deal).
 Big Ger 24 Jul 2017
In reply to Offwidth:

Meanwhile, back on Planet Corbyn;

In an interview with NME just days before polling day, Mr Corbyn said: 'And I don't see why those that had the historical misfortune to be at university during the £9,000 period should be burdened excessively compared to those that went before or those that come after. 'I will deal with it.'

Then when interviewed by Andrew Marr

'I pointed out we had written the manifesto in a short space of time because there was a surprise election but that we would look at ways of reducing that debt burden, recognising that a lot of it is never going to be collected anyway and try and reduce that burden.' 'We never said we would completely abolish it because we were unaware of the size of it at the time,' he added.

Mr Corbyn said his shadow chancellor John McDonnell had a working group on the idea and that a policy announcement would be made soon.

See also;

Shadow Education Secretary Angela Rayner was challenged to say sorry for ditching an Election pledge to wipe out graduate debt. But Ms Rayner, seen as a potential future party leader by Labour colleagues, said, 'We have no plans to write off existing student debt', and claimed 'we never promised to do so'.



In reply to andyfallsoff:

> I understand that (although I think they were left in a pretty rubbish position and had less choice than people make out - do you think they should have refused to form a coalition?).

They should have said to the Tories the student loans issue was non-negotiable because they had made a written promise about it. They'd have got a coalition anyway, just look at the Tories and the DUP.

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