Job Discussion Forums

mozzar · Joined: 16 May 2009 Posts: 339 Location: France

You seem to have misunderstood the concept of a loan. You take the money but you pay it back later through working. Those saying that they won't pay the money back are the ones who are stealing and being financed by other hard working people.

When you pay the money back it also includes the interest that has built up over time, so that the lender has actually made money off you. I'm finding it hard to see how taking out a loan and paying it back = taking money off hard working people. The normal person who has a loan isn't stealing, it's only those who don't pay the loan back.

Deicide · Posted: Sat Nov 14, 2009 12:31 pm Post subject:

mozzar · Joined: 16 May 2009 Posts: 339 Location: France

I'm not sure in which country the government is quite as brutal as the one you seem to live in, but taxes are the nature of a country. And I reiterate, it's not giving it to someone, no strings attached. They have to pay it back, interest and all. By paying this money back to the government they are paying you back as the government can tax that little bit less on you. So yes, the taxed individual will still be taxed but not quite as much as they would be without the student loan income.

Working to pay for your education is a very good thing to do (it's how I'm paying for my masters). However, I took out a loan for my first degree because otherwise I would have had to delay university for 2 years whilst I saved up money. This time would have been spent packing shelves, working in a bar or some other unsatisfying, unfulfiling job that wouldn't teach me any new skills I would later use in life. By taking out a loan and doing university straight away it means I can enter the workforce and do a job that encourages me to better myself from the start, for a higher pay and with better job prospects.

I'm also basing the 2 year delay while I save money on living with my parents rent free, bill free. If I lived in my own flat and had my bills it would be considerably harder and I would have to spend a lot more time working before I could enter the higher education system.

jonniboy · Posted: Sun Nov 15, 2009 12:50 am Post subject: Re: Plans Never to go Back Home

80daze · Joined: 15 Oct 2008 Posts: 118 Location: China

I've only been away from the UK for a year but the more I read about it from a distance the more I want to stay away. What with the loss of freedoms that comes with the nanny (police ) state, the rise of the BNP (British National Party), the high crime rate, the high unemployment rate, the national debt burden, the high taxes and most of all the s##t lying politicians that run the country now and after any election next year.

In short apart from the food and the beer, I miss nothing (family excluded Smile

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spiral78 · Joined: 05 Apr 2004 Posts: 11534 Location: On a Short Leash

Hmmm - you miss British food?? Do elaborate....

basiltherat · Joined: 04 Oct 2003 Posts: 952

Without getting into the pros and cons of the student loan policy, it might be worth remembering that those who default or find ways to avoid paying back the loans are just making it more difficult for those who are going to apply for one. The government is going to have to further finance the system by increasing the interest or adopting some other way of financing it which will , most likely, affect those mentioned above.

Rather like defaulting on credit card payments, the lender gets its money back by raising the interest on them for others who are trying their best to pay back their loans.

Of course, the ultimate result is that student loans will be stopped completely. Only the selfish want short term benefits with high rewards with a total disregard to the welfare and potential of future generations.

IMHO, as I implied in my earlier post, people who intentionally refuse to pay back their loans; any sort of loan, are simply immature.
Best
Basil

nickpellatt · Joined: 08 Dec 2006 Posts: 1522

Deicide · Posted: Sun Nov 15, 2009 12:06 pm Post subject:

Sashadroogie · Posted: Sun Nov 15, 2009 12:33 pm Post subject:

Hey, the Welfare State is great. But that has nothing to do with student loans in any case, does it?

Deicide · Posted: Sun Nov 15, 2009 12:43 pm Post subject:

basiltherat · Joined: 04 Oct 2003 Posts: 952

mozzar · Joined: 16 May 2009 Posts: 339 Location: France

And the welfare state works pretty well in my opinion. Police, roads, fire departments, unemployment benefits, etc. The only people I hear arguing against the welfare state are those who have been blessed with financial security from birth. It provides safety for the entire population so that a country can develop in a sustainable way, rather than an ever growing gap between the have-it-all rich and the have-nothing poor, with no chance of escape for the poor except by extreme chance.

As I pointed out before though, the students do work to pay for their studies but they work after the studies have ended to pay back the loan, plus the interest. In essence it is your money - you've just not earnt it yet. It's only if you refuse to pay the money back that it becomes a problem.

Working and saving to pay for an education is very good, but where is the sense of working for three years at the age of eighteen to save money in a dead end job when taking a loan, going to university and then working in a better job that will allow you to pay off the loan and live life a little better?