The reality of student loans is that many students will never have to pay them back under the current system. They're not seen as 'bad loans' because let's face it, everyone of a certain generation has one. And what's the alternative to going to university right now?
I was unimpressed with the student protests last year. I was a student then and even now I owe about £20,000. Am I bothered? Nope. I'm not paying it back because the reality is that me reaching the £15,000 earning bracket I need to start paying it back isn't likely in the foreseeable future. If it is, I'll just be happy to be earning that kind of money again.
Any one of you about to start Uni this year may be racking up loans of £30,000 or £40,000 by the time you leave but until you hit £21,000 in earnings you won't be paying it back. And I hate to put a downer on it but how many of you are going to enjoy that kind of earning potential with the way things are? And if you do, then you damn well do need to pay it back because you're doing better than the rest of us.
At least the courses getting the highest percentage of applications are useful ones - engineering, computing and nursing. This country needs industry, skills that will kick start the economy.
Everyone seems to want a classless society, for education to be a right not a privilege. But it does not work like that because society and people are built on class and the pecking order. That will never change. It's things like that which cause break downs in society. We are all good at something, but some are better than others.
Getting a student loan is not one of these divisions. Loans and maintenance grants are there for all and they will get you through university if you use them properly.
|Or not as it so predictably turns out (source)|