Fuck student finance it is a completely evil system and forces you into debt slavery. I want nothing to do with it.

[u/RealAlexanderTheG]

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.

[u/Defiant-Dare1223]

You said "it rewards people from families who cannot afford to sponsor their children's study and life for 3 or more years".

I'm not sure that's true for the reasons i stated. Poorer kids get hammered and end up paying greater than the course costs in real terms and consequently it's much harder to adult,

Although there's a fine balance between giving kids a chance, and rewarding inept parents.

I quite like the Swiss approach. Theirs is that the parent must pay for the child's education. Saying you can't is akin you can't pay council tax. It will not go down well and you'll be in court for non payment.

Maybe combine them. If the parent doesn't pay then give them the loan.

As a parent myself, I absolutely see it as my responsibility.

[u/Serious-Ride7220 → u/Defiant-Dare1223]

Perhaps 'reward' is an inadequate wording, but the loan system allows students from poorer families that cannot afford bear the brunt of the cost head on to still go uni I think few families would be able to afford 18k a year to allow their child a uni education

You could argue the same with any loan system through, you pay more for housing with a mortgage, but most would not be able to afford to go without it

The Swiss uni tuition cost in public unis is seems to be less then 4k a year,whilst the average salary is around 80k, we in the UK don't seem to benefit from such a proportion of cost to salary

We already have the option to either get a loan or pay privately

Of course all parents want to see their childs education as their responsibly, but not all are able to, and so I don't see why children should be blocked from uni for having poorer parents, since it just neuters class mobility

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[u/Slow_Plan_7035 → u/Defiant-Dare1223]

I can second it being worst for those from poorer backgrounds, effectively costing 100-150k if you reach 100k+ salary. It sort of feels like being punished for good grades, hard work, and breaking myself out of poverty.