Quote:
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Originally Posted by Chris T
A £10,000 loan with annual interest of 7% generates £700 in interest payments per year, or a little over £58 per month. The actual monthly repayment depends on how many years the loan is repayable over. If we say 10 years, then you also pay back £1,000 of the capital per year, or a little over £83 per month, so the total monthly repayment is a little under £141 per month.
That is, if I've remembered how to do those calculations properly ...
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Well....considering I am not very good at maths
I'll trust ya
So if the intrest is 7% and theres a loan of £10,000 (which is quite a low loan). It would depend on when you pay it back weither your better off or not and the actual size of the loan. Basically if you live at home and dont pay for living, youre away
If you stay at the UNI then you could be worse off
. If you get a resonible job upon leaving Uni you would be alright. But what is they want to stay to take there degree on a bit? Or they dont get a job right away? Doesnt this system hasten up the need to start earning
Its all very confusing
. As for if the sums add up and if they can afford it i think we should forget trying to understand any of the partys spending plans.
I mean 1) Even genius economists are arguing about it, 2) The economy can change anyway! 3) If the spending wrong, then all the manifestos are rubbish