Student statistics

Each year students borrow £10billion to £12billion from the Student Loans Company. If a student borrowed £48k over their course, they would owe £51k at graduation. If they earned £25k in their first ten years of work, £35k in their second ten years and £50k in their third ten years they would have repaid £31.5k, mostly in their final ten years. However due to compound interest they still owe £39,500. After thirty years the debt is written off. Most students will never reach these salary levels.

7 comments for “Student statistics

  1. October 16, 2018 at 07:04

    Government funding of higher education. Didn’t they used to do that?

  2. Twisted Root
    October 16, 2018 at 07:09

    University as monetised, delayed unemployment.

    • Bill
      October 16, 2018 at 08:43

      Well said, that man.

  3. MadNumismatist
    October 16, 2018 at 14:59

    Four years ago Martin Lewis, the so called ‘money saving expert’ blocked me on his site and deleted the post for arguing this exact point.

    I emailed Tim Worstal about it, he replied the math was correct but I had missed one thing; opportunity cost.

    The wages and promotions earned over those three years. Every time I see Lewis talking about this I want to wring his neck.

    His stock answer is “don’t worry, you probably will not pay it back”.

    Well somebody has to pay to cover those unpaid loans on gender and media studies. He acts like it is mythical money so go ahead, blow it forgetting to mention taxpayers will be picking up the bill for their three year pissup.

    Also, not widely mentioned, Osborne put in a clause that the loan cannot be repaid in a lump sum, I don’t think that has changed, proving to me the whole point isto create state debt slaves from day one of adulthood.

    PS: my daughter is now 4 years into her career, with a few more exams to go. Many of her Uni mates are asking for introductions. She has tried to help a couple without success.

  4. Doonhamer
    October 16, 2018 at 21:13

    This loan inflation has allowed the “universities” to inflate their own wage bill without any need for improved output.
    Some vice-chancellors doing very nicely.
    That and every public service job now needing a degree. Whereas before a worker, or operative, just had to be competent now they can be qualified but incompetent.

  5. October 17, 2018 at 01:23

    This is what happens when you have five or six times as many university students as you will ever need. Most people would be shocked at just how few university graduates we actually do need.

    If we concentrated on the fairly small numbers doing degrees that are actually useful there would be no problem and no need for any student loans at all.

    Unnecessary university degrees are more than just a waste of money. They turn people, especially women, into crazy dangerous SJWs.

    Sort closing down down the unneeded universities. You could probably start with Oxford and Cambridge.

  6. October 17, 2018 at 04:22

    I’d agree with the above. Quite a little sinecure is lefty academia, says one who was in it.

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