[s]
The Cellar Bar wrote on 04:59, 28th Jan 2004:
it's going to cost them and their parents something in the region of £30,000 before they are 25 years old, if they actually want to make a difference.
No, its not! Do you actually know what the proposals for tuition fees actually are? The point is that they are paid by graduates,
after graduation for the rest of your life - it is NOT an up-front fee that you pay when you start your education, like the current tuition fee arrangement. The amount you pay back is based on the amount that you
earn, so I don't understand where the figure of £30,000 before you're 25 comes from - in order to have to pay that kind of amount, you would have to be earning a ridiculously large sum of money straight after you graduate.
The basic points of the new proposals (taken from the DfES website -
http://www.dfes.gov.uk) are:
- Up front fees would be removed .
- Repayments would start once the graduate is earning over £15K. If you were never to earn over £15K, you would never repay. If your salary were to drop below £15K, your repayments would stop. It’s worth remembering too, that loans for fees and other costs would be interest-free in real terms. Only inflation-rate interest is charged to maintain the value of the loans. The Government would cover the cost of borrowing. You would only pay back what you borrow.
- Payments would not be based on what is owed; they would be based on what is earned. This means that higher debt would not translate into higher weekly repayments.
- Payments would be made through the tax system like National Insurance or pension contributions.