It's 3% of everything over £6,250. Currently we have 9% of everything over £15,000. That means if you earn more, you pay more, and you will eventually be free of it (Even if you don't pay it all, the rest disappears after 20 years). 3% of your income for LIFE on the other hand will always be with you.Danny Ocean said:1%? Really? You probably lose that much money down the back of the couch every year. Put your personal machinations to one side and think about the effect of increased educational costs on a primarily tertiary industry based society for a few hours.Danzaivar said:Yes because I would just LOVE to pay for a loan that I can never clear, rather than one I can work back to paying. Higher fees is the best choice in a bad bunch.Danny Ocean said:Yes they do. They said a while ago, on paper, that they advocate the 1% extra tax for the rest of your life (or whatever the value was) in the place of extra fees. Seemed like a great idea to me, too. There's always the odd millionaire who can make up for all the other middle peeps.Sebenko said:Though I'm against the increase in fees, I'm also against the Student's Union, since they don't seem to have a FUCKING ALTERNATIVE.
I see your point about the indefinite thing, but I think the idea is that those who don't make enough money to pay back the loan end up paying less, and those who make tonnes can help pay for anyone else. Meanwhile, it's only those who benefit from having a degree (and studies show that almost everyone does) who have to pay for it, rather than everyone else.
The graduate tax hurts poor people more, the loans hurt the rich more. Plus the whole 'forever' thing is a real psychological barrier. I know I wouldn't have gone to uni if that was in place.