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Author Topic: 3 in 4 UK students will be repaying loans into their 50s – study  (Read 1691 times)

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Offline ImpactHeart

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Re: 3 in 4 UK students will be repaying loans into their 50s – study
« Reply #3 on: November 18, 2014, 02:04:29 AM »
Do you know ? I find this long time.

Offline Jerry04

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Re: 3 in 4 UK students will be repaying loans into their 50s – study
« Reply #2 on: August 21, 2014, 03:57:11 PM »
It is a sad truth that most students have been burdened by the weight of loans to a point where it has become their only purpose to repay them in adult life. Like David Graeber said: "Student loans are destroying the imagination of youth. If there’s a way of a society committing mass suicide, what better way than to take all the youngest, most energetic, creative, joyous people in your society and saddle them with, like $50,000 of debt so they have to be slaves? There goes your music. There goes your culture. There goes everything new that would pop out. And in a way, this is what’s happened to our society. We’re a society that has lost any ability to incorporate the interesting, creative and eccentric people."

Offline silverado

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3 in 4 UK students will be repaying loans into their 50s – study
« Reply #1 on: May 09, 2014, 11:58:21 PM »
Three out of four of today’s UK university graduates will be paying back their student loans well into their 50s, owing an average amount of £44,000 ($74,000), a study published Thursday reveals.

A report conducted by the Institute of Fiscal Studies (IFS) for the education charity the Sutton Trust found that today’s students are leaving university crippled with huge debts averaging £44,000 ($74,000). This is double the amount before the new £9,000 ($15,100) tuition fees cap came into force after 2010.

The hike in tuition fees, which were already unpopular, led to mass protests across the country, which in London turned into rioting and saw two policemen seriously injured.

The study found that 73 percent of students will be unable to clear their debts, and many will only have managed to write them off 30 years after graduation.

An individual student will have had to repay an average of £35,446 ($59,400) by the time they’ve cleared their debts, when many by that time have to fund their own children’s education. Only a tiny 5 percent of the highest earners will manage to pay back their debts by the time they are 40.

The report comes just after the Department for Business Innovation and Skills admitted that 45 percent of student debts will never be repaid.