Graduates 'in arrears' with loans

MuslimSister —

Many graduates across the UK are failing to keep up with their student loan repayments, statistics show.

Figures from the Student Loans Company (SLC) show £186.3m worth of loan repayments were in arrears by the end of the financial year in 2005-06.

Opposition MPs called on the government to address the issue of student debt.

In total students and graduates owed nearly £18.7bn in loans accrued over recent years, including those not yet due for repayment, the figures show.

"Today's twenty-somethings face serious financial problems because of student debt that their parents never encountered.

Debt cancellations

Shadow Higher Education Minister Boris Johnson said the figures also showed a worrying rise in debt cancellations.

This can happen for loans taken out before September 2006 if a graduate reaches the age of 65, dies or becomes permanently disabled and is unfit for work.

"These have gone up by almost 60% on last year to £5.6m," said Mr Johnson.

"With the variable fees coming in this year, there is a real risk of moral hazard if students and families believe these debts will simply be purged by the state.

"Too much debt cancellation will increasingly be seen as unfair on those families that do struggle to pay.

"We must make sure that the debt burden is bearable."

[url=http://news.bbc.co.uk/1/hi/education/5086158.stm]BBC NEWS[/url]

Anyone else in debt? I feel for those starting Uni this September...student fees have gone up to £3000...it'd be impossible to study at Uni without getting a loan out.

Forum

MuslimBro — Tue, 20 Jun 2006 - 20:44

Inshaallah I'll be starting uni in september.

I've taken £2500 out as loan for my tuition fees (which will be paid directly to the uni) and I am getting a further £2700 as maintenance grant (don't need to pay it back yepeee....we asians love free stuff lol)

I'm only taking the loan out because noone in my family works and I haven't got a part-time job but hopefully I'll get one before the 2nd year of uni starts.

By the way not all universities charge £3000 but that's the max they can charge, my one charges £2500.

Angel — Tue, 20 Jun 2006 - 22:38

oh one of the many reasons why I love staying in scotland, our education is free 😃 😛 no worries of tution fees, SAAS pay it all haha

I did take one grand of loan out however it wasn't for myself, it was to help someone out. Other than that I have no debts and don't intend to inshallah.

You — Wed, 21 Jun 2006 - 00:12

And one of the reasons I hate scotland.

You see if the scots MP's had the decendcy NOT to vote on an ENGLAND ONLY agenda, we in England would not have had them either. Labour would have lost the vote.

But the hypocritical scots voted to keep it free in scotland, and voted to charge for it in london!

MuslimBro — Wed, 21 Jun 2006 - 01:14

I didn't know you (Angel) lived in Scotland....must be a lonely place with your neighbours living miles away from you.

I like nothing about scotland apart from the accent (love to take the micky) and the skirt (longi) they wear.

Beast — Wed, 21 Jun 2006 - 11:05

[quote="Muslim Bro"]I didn't know you (Angel) lived in Scotland....must be a lonely place with your neighbours living miles away from you.
[/quote]

She lives in Scotland. Not the Outback.

They have big towns and cities too you know.

Angel — Wed, 21 Jun 2006 - 12:28

[quote="Muslim Bro"]I didn't know you (Angel) lived in Scotland....must be a lonely place with your neighbours living miles away from you.[/quote]

lol like beast said we have cities and towns, the area i stay in has many flats so there is no getting away from people, constantly surrounded by them.

[quote="Muslim Bro"]
I like nothing about scotland apart from the accent (love to take the micky) and the skirt (longi) they wear.[/quote]

I love taking the mick out of the english accent too, never been to London but have met people who are from London, that accent is nicer than other english accents, but I cant stand the posh London accent eww. How come you dont like scotland, i am hurt 🙁 (the skirt you're referring to is called a kilt)

Admin - that is a shame but tough that's life :twisted:

Exquisite — Wed, 21 Jun 2006 - 15:24

[quote="Admin"]And one of the reasons I hate scotland.

You see if the scots MP's had the decendcy NOT to vote on an ENGLAND ONLY agenda, we in England would not have had them either. Labour would have lost the vote.

But the hypocritical scots voted to keep it free in scotland, and voted to charge for it in london![/quote]

[color=magenta]ah the west lothian question, my fave topic in devolution for politics, im getting a summer job to save up, n dad is saving up for me too [/color]

The Great 100 — Wed, 21 Jun 2006 - 15:38

[quote="Angel"]I love taking the mick out of the english accent too, never been to London but have met people who are from London, that accent is nicer than other english accents, but I cant stand the posh London accent eww.[/quote]

Well then, surely nothing is worse to you than the Scottish public school accent. Talk about posh.

MuslimBro — Thu, 22 Jun 2006 - 13:57

[quote="Exquisite"][color=magenta]ah the west lothian question, my fave topic in devolution for politics,[/color][/quote]
I personally didn't like devolution and got the lowest marks in that topic area.

Politics in A2 is supposed to be more interesting then AS (as you learn about USA, China, terrorism, ect.) but I found it boring. We hardly had any debates which was a letdown.

Isn't Glasgow in Scotland....and isn't it supposed to be the murder capital in the UK?

Angel — Thu, 22 Jun 2006 - 14:08

[quote="Muslim Bro"]

Isn't Glasgow in Scotland....and isn't it supposed to be the murder capital in the UK?[/quote]

hmm i knw Glasgow has the highest crime rates but didnt realise for murder...anyway I stay in glas it's great! You should visit glasgow sometime or are you a wimp :twisted:

MuslimBro — Thu, 22 Jun 2006 - 15:46

[i]Scotland has the second highest murder rate in western Europe and Scots are more than three times more likely to be murdered than people in England and Wales, according to a study by the World Health Organisation.

Scotland's homicide rate is 2.3 deaths for every 100,000 people each year, compared with 0.7 in England and Wales.[/i]

I thought London was bad but after reading that I'm not too sure if Glasgow is my kinda place...and yes I'm a wimp :oops: 😂

MuslimSister — Thu, 22 Jun 2006 - 17:32

The thing with student Loans is that...you only start paying them back when you're earning a certain amount.

Many people who go into part time work or choose not to work at all will never have to pay their loan back...I can't see myself ever working full time in the future.

I'm not sure if that's cheating the system?

MuslimBro — Thu, 22 Jun 2006 - 17:58

Yeah you start paying it back when you're earning more than £15000...I think.

When taking out a loan, one must have a firm intention of paying it back, and it will be a grave sin to intend not to repay the loan. Grave warnings have been promised in the Qur'an and Sunna for the one who fails to repay a loan without a genuine and valid excuse.

By the way whats the point in getting a degree if you're not going to work?

MuslimSister — Thu, 22 Jun 2006 - 18:50

[quote="Muslim Bro"]Yeah you start paying it back when you're earning more than £15000...I think.

When taking out a loan, one must have a firm intention of paying it back, and it will be a grave sin to intend not to repay the loan. Grave warnings have been promised in the Qur'an and Sunna for the one who fails to repay a loan without a genuine and valid excuse.

By the way whats the point in getting a degree if you're not going to work?[/quote]

I took out my loan with the firm intention to pay it back when I started working. Three years ago I intended to work fulltime.

But after experiencing teaching...which begins at 8.30am and can finish after 6.00pm, bringing work home too which means that family, friends and my Islamic commitments suffer, has confirmed to me that in the future I can only take this career part time.

MuslimBro — Fri, 23 Jun 2006 - 16:11

[quote="MuslimSisLilSis"]but he's forcing me to become "independent" :roll:[/quote]
In other words he wants you out of the house asap 😂 joke

My parents also want me to get a degree but that's understandable as I'm a boy.

I thought parents were abit more relaxed on girls so they wouldn't really mind if they weren't into education. My parents actually encourage my sis to learn all the 'girly' stuff like cooking.

Being independent is good in a way...just imagine if your husband leaves you. You wouldn't need to depend on him for money and you can get a job.

Guest — Fri, 23 Jun 2006 - 18:36

[quote="Angel"][quote="Muslim Bro"]I didn't know you (Angel) lived in Scotland....must be a lonely place with your neighbours living miles away from you.[/quote]

lol like beast said we have cities and towns, the area i stay in has many flats so there is no getting away from people, constantly surrounded by them.

[quote="Muslim Bro"]
I like nothing about scotland apart from the accent (love to take the micky) and the skirt (longi) they wear.[/quote]

I love taking the mick out of the english accent too, never been to London but have met people who are from London, that accent is nicer than other english accents, but I cant stand the posh London accent eww. How come you dont like scotland, i am hurt 🙁 (the skirt you're referring to is called a kilt)

Admin - that is a shame but tough that's life :twisted:[/quote]

i know what u mean!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

like ive got these relations in a place called aylesbury and they've gotten funny accents man and they live in a funny street 😂 😂 😂

but it has a mosque at the end of it so it can't be that bad........................

Angel — Fri, 23 Jun 2006 - 20:17

[quote="Guest"]

i know what u mean!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

like ive got these relations in a place called aylesbury and they've gotten funny accents man and they live in a funny street 😂 😂 😂

[/quote]

Oddly enough, that is where my cuz's stay, they have a horrible accent, they use words like "beef" and god knows what...

In regards to the topic i heard if you work for the loans company then you don't have to pay your loans?! Is that true?

Angel — Sat, 22 Jul 2006 - 15:58

ARGH, I just got a letter through from SAAS and they have said to me in order for me to graduate ie be recongised with a degree I have to pay £2091! You have got be jokin, and they never even told us this b4, I am ticked off to say the least, duno if I want to be reconginsed with a degree since I dont even like this stupid degree I done.

Apparently it's to help the future generation, I dont care coz I am bloody skint!

:evil: :evil: :evil:

I hate SAAS! I take back all the praise of Scotland being great for giving us free education!

You — Sat, 22 Jul 2006 - 19:08

[quote="Angel"]ARGH, I just got a letter through from SAAS and they have said to me in order for me to graduate ie be recongised with a degree I have to pay £2091![/quote]

That sounds like extortion to me.

Its not as if going to uni is cheap. I left three years ago, and am still paying off debts (apart from the student loan).

There must be some procedure you can follow to argue against this?

latifah — Sat, 22 Jul 2006 - 22:47

I think student loans are fair.

I owe about seven thousand pounds to the government after three years of university studies.

I currently pay about 13 pounds per month to pay that debt off.

Fair enough.

I’m not complaining.

Why should the ordinary tax payer have to fund those in higher education?

Shame I don’t live in Scotland. 🙁

You — Sun, 23 Jul 2006 - 01:25

The thing about education is that if it does result in you gaining a better job, you will be paying more tax. Why should you be burdened twice?

Secondly, we pay tax. I hardly ever go to hospital. But I still think its fair that I ahve to cough up for it through tax.

and If the people is educated, the whole society can benefit from it. The individual may benefit the most but there are secondary benefits to society as a whole. and it gives everyone an equal chance at education without the chance of being hauled into debt for life.