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katex · 17-03-2009, 21:39

Just getting back to the debt .. my son, now 26 years, has still a debt of £11,000 from the government loans.

You will not be obliged to pay anything until you are earning over £15,000 per year, and then charged at 9% of the balance of your income. Will take a long time to pay off, but the interest now being charged is easier of course. Is taken out from your wage, so he does not miss it. Still if the fees go up, this will mean a longer time to clear this debt .. probably 25 years average.

The problem comes if you wish to take a Master's Degree ... no help here. Have to find the tuition fees out of your own pocket, (was £2,000) and no loan for housing (probably why students taking a Phd as Blazey explained are now teaching to pay for this). He was lucky, had a kind relative benefactor and, as my income had dropped substantially at this stage, did get a grant of about £700 plus. He luckily did find a job 3 days a week with a company that he is now employed with which helped with living subsistence; the company actually promoted themselves at the university, hard going for him, but paying out now.

This is just my case of course.

17-03-2009, 21:39	#35
katex Resting in Peace Join Date: Oct 2005 Location: Clayton-le-Moors Posts: 10,551 Blog Entries: 3 Liked: 16 times Rep Power: 11256	Re: education fees Just getting back to the debt .. my son, now 26 years, has still a debt of £11,000 from the government loans. You will not be obliged to pay anything until you are earning over £15,000 per year, and then charged at 9% of the balance of your income. Will take a long time to pay off, but the interest now being charged is easier of course. Is taken out from your wage, so he does not miss it. Still if the fees go up, this will mean a longer time to clear this debt .. probably 25 years average. The problem comes if you wish to take a Master's Degree ... no help here. Have to find the tuition fees out of your own pocket, (was £2,000) and no loan for housing (probably why students taking a Phd as Blazey explained are now teaching to pay for this). He was lucky, had a kind relative benefactor and, as my income had dropped substantially at this stage, did get a grant of about £700 plus. He luckily did find a job 3 days a week with a company that he is now employed with which helped with living subsistence; the company actually promoted themselves at the university, hard going for him, but paying out now. This is just my case of course.