Young people feeling a forgotten generation

[Grimsby town]

However the interest on the new loans is just RPI, while in the old loans are up to RPI +3%.

I think many people will be worse off, unless you end up being a high earner so you'd pay it off (including interest) regardless of 30 or 40 year write off periods.

Interesting, I didn't know they'd reduced the interest. Agreed on many people being worse off. Such a change will mean that more middle income earners will pay more than extremely high earners.

Masters degrees loan repayment terms are still RPI+3% and the price of a masters degree has risen significantly compared to what I paid in 2016/17. Its a system that is rigged towards the wealthy. Two good friends of mine in the same job as me both did masters degrees but had help from their parents to pay up front. Unfortunately being from a low income background, I'll pay £25k (although over a longer period of time) for the a degree that cost them half of that.

 

[Vexed]

Masters degrees loan repayment terms are still RPI+3% and the price of a masters degree has risen significantly compared to what I paid in 2016/17. Its a system that is rigged towards the wealthy. Two good friends of mine in the same job as me both did masters degrees but had help from their parents to pay up front. Unfortunately being from a low income background, I'll pay £25k (although over a longer period of time) for the a degree that cost them half of that.

I didn't know about masters still being on RPI+3%. I'm reasonably luckily to be on an integrated masters course, so all four years are at the undergrad loan repayment rates. As I mentioned up thread this does mean 4 years of tuition and full maintenance loan which is a rather large amount! It's approaching 100k before we even start looking at interest. At least there aren't any large increases to tuition fees to account for them being frozen for a few years (yet!).