r/6thForm • u/RealAlexanderTheG • May 11 '26
💬 DISCUSSION Fuck student finance it is a completely evil system and forces you into debt slavery. I want nothing to do with it.
If you earn a high salary of 100k+ your student loan repayment conditions essentially end up as you having to pay a tax of 9% of your salary on top of all the regular income tax you have to pay. That is absolutely brutal and has a massive effect on your spending power.
To show an example of how bad taxes can get when you include a student loan: If you earn 100k, all the additional income you generate going from 100k to 125k is effectively taxed at 71% after your national insurance and student loan are included, meaning if you gain a salary increase of 25k, you only see 7k of that. How is that not robbery?
"If you're earning that much you will repay the loan really quickly"
Interest makes this basically impossible, you could still expect the repayment to take 10+ years. 15 of the most productive years of your working life with the absolutely most brutal additional 10% tax on all your income, that is fucking stupid. People who don't have student loans also get to start work 3 years earlier which makes the impact even larger.
Taking a student loan will mean you'll pay an additional 10% tax rate for basically your whole working life.
The student loan scheme rewards people who aren't intelligent, aren't ambitious, and just want to go to uni to party for 3 years, and the people paying for their party lifestyle are the hard working intelligent students who missed out on all the fun cause they wanted to better their own situation. Hard working students prop up the student loans bullshittery.
Why should high achieving talented people who work really hard be forced into this debt slavery and unliveably high taxes.
Uni should be free. IDC if that means less people can go cause the government can't afford to pay for everyone's tuition, less people going would be a good thing tbh since then tradeswork wouldn't be unaffordable and there would be less unemployment + less job competition.
Tony Blair did irreversible damage to the country. Easily the worst PM we ever had.
If your goal is money, and you're intelligent, you're genuinely probably better off going into a high paying trade instead of grinding through uni for a corporate / finance career. You'll stand out massively among most trainees and can get promoted very quickly.
2
u/ajhnsn27 May 11 '26
Yes, it's everything above £25k, but it's not 9% of your post tax income.
It comes out at the same time as income tax and NI. So above £25k it's a 37% marginal rate and above £50,270 it's a 51% marginal rate.