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Is it me, or are these absolutely doomed?
the average graduate is liable to graduate this year with £44K of debt. This will go up for future years as the govt converts maintenance grants to loans.
By my calculations, [url= http://www.moneysavingexpert.com/students/student-loans-tuition-fees-changes#7 ]on 44K of loans they'll need to be earning £49K [i]just to cover the interest[/i][/url].
Which, as at 2013, would [url= https://www.gov.uk/government/statistics/percentile-points-from-1-to-99-for-total-income-before-and-after-tax ]put them in the 90th percentile of earners in the UK[/url].
So the vast majority of graduates will never even dent the initial capital, let alone actually pay it off. Is it me, or is this completely unsustainable?
Are we saving up a massive problem for ourselves (and our future graduates?)
Posted : 05/08/2015 10:53 am
