VinPetrol

has anyone else heard anything like this mentioned ? Im a little concerned !

Petem95

Hope not, mine are tucked away in ING direct making 5% and current rate of interest on them is something like 2% so Im not making that much on them as it is

VinPetrol

least you'll be makin somethin out of em, jus wonderin when they are gonna start comin out of my wages now im no longer a tax dodger

Petem95

soon as you start earning over 15k. Seemed to take them a little while to catch on with mine.

Jap2Scrap

It's not 15k anymore Pete. I've just submitted my deferrment forms for the 5th year running and now your income has to be over £18xx a month. Can't remember the exact figure but it's over £1800. Didn't mention anything about an increase in interest either. Then again it wouldn't would it?

Petem95

Just checked the Student Loan website - interest on the loans is now 2.6% ( ) and from this April repayments start when you earn over 15k - was previously 10k!

Edit: What a load of crap - so seeing as I only got a few small loans out - totalling 6500 - I have those in ING making 5% AER - HOWEVER I assume I pay tax at 22% on the interest, so only really see 3.9%?? (correct me if Im wrong here!)

So 253.5 interest, but removing loan interest of 169 leaves only 84.5

Jap2Scrap

Must be different now then Pete. It might be because when I was at uni we still got grants! Definitely £18xx a month on my forms. I can't find any reference at all to the interest rates but the repayment amounts are almost identical to last years so I wouldn't have thought it has gone up over the 1.odd% on mine.

Petem95

Thats interesting, maybe repayment levels and interest rate (compared to base rate) depends on when you took the loan out? If so then thats good news

pslewis

The Tories want to charge a commercial rate!!

Be warned!!

Pete

rik1471

F*ck me pslewis. Change the farkin record! It's b o r i n g.

suprabeast

that sounds like a good idea... then maybe less people would go to uni getting pointless worthless degrees and sponging off of the government

Jap2Scrap

How is a loan sponging?

suprabeast

do you believe that that loans covers everything in the school university system? i think you'll find the loan only covers a small portion of the total cost... where does the rest of the money come from?

m18use

Students should pay the same as everyone else.
Or could try getin a job like everyone else (except pikeys)
Why should they pay less intrest its there choice to go to uni and bum about
for yrs .

blueone

I think a lesson in fiscal investment and planning may be needed.

The 'money' comes from the higher tax revenue gained, due to people having better paying jobs, due to having a better level of education which they aquired at University. It is a bit like the chicken and the egg. Which came first? money or education...

rik1471

well said that man!

suprabeast

ah you see now this is where you should re read what i wrote when i said "pointless worthless" degrees of which there are many. I'm not referring to those who did accounting, science, maths or engineering such as myself (electrical and electronic eng). I am refferring to the many more worthless degrees that have all popped up since the governments drive to get everyone to go to uni. I'm talking degrees such as film studies, maritime leisure, and stupid stuff that usually ends with the person doing a job thats completely unrelated. Where does this unrelated job fit into your fiscal scale exactly?

matt85

Even i agree with that.

Matt (a student )

Jap2Scrap

Yeah me too, when you put it like that.

ps I got my degree in Mechanical Design so that counts