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punky · 15-04-2005, 14:58

Student loans aren't like normal loans.

You only pay them back if your earnings are above a threshold limit. Its ÃƒÆ’Ã¢â‚¬Å¡Ãƒâ€šÃ‚Â£10,000 atm. Above that, you pay a percentage based on your salary, so if you don't earn, you don't pay. Yup can protract it out as long you like (or can afford to).

Given how the student loans system is nice and fluffy anyway, I wouldn't mind so much an increase from 3% to 7%, if the government would spend the money properly.

15-04-2005, 14:58	#80
punky Inactive Join Date: Jun 2003 Age: 45 Posts: 14,750	Re: Vote 2005, week 2, new poll! Student loans aren't like normal loans. You only pay them back if your earnings are above a threshold limit. Its ÃƒÆ’Ã¢â‚¬Å¡Ãƒâ€šÃ‚Â£10,000 atm. Above that, you pay a percentage based on your salary, so if you don't earn, you don't pay. Yup can protract it out as long you like (or can afford to). Given how the student loans system is nice and fluffy anyway, I wouldn't mind so much an increase from 3% to 7%, if the government would spend the money properly.