Mon 19 Feb 2018
- The award-winning student news website of Imperial College

Know something you shouldn't? Tell us, using our quick, 100% anonymous tip-off form!


Russell Group to make own policy on fees and pay

The comments below are unmoderated submissions by Live! readers. The Editor accepts no liability for their content, nor for any offence caused by them. Any complaints should be directed to the Editor.
Jul 31 2003 14:21

The group representing 19 of the top universities in the UK is pushing for the government cap on tuition fees to be raised to ?5,000.

Click Here for the Full Article

Jul 28 2003 18:49

Oliver, shouldn't you be on holiday?!

Jul 28 2003 19:51

He should be revising the constitution, for in 4 days, he is Council Chair.

Jul 28 2003 20:59

Just to add to the misery for those who already have large student debt take at look at the new interest rates for student loans,

happy summer holidays.

Jul 29 2003 01:38

How overjoyingly nice. On a typical three-year debt such as my own (say ?13000 as a baseline estimate), that amounts to about ?33 a month interest growth, a not insubstantial amount.

Under the current repayment system (9% of income over ?10k), anyone earning between ?10k and ?14.5k will not be repaying quickly enough to negate the interest growth. Assuming the same percentage is maintained with the increased starting freshold of ?15k this range rises to ?15k-?19.5k, rapidly approaching the rumoured average graduate starting salary of ?20k.

The worst is, this is somewhat approaching a best-case scenario: a four-year student on full loan could easily expect debts approaching ?20k, and medics' loans must be astronomical, making repayment *much* harder.

Kinda makes consider the relative merits of being unemployed :-)

5. ...   
Jul 29 2003 09:25

If students are so broke how come most of them don't bother doing any form of paid work during term time, they still go out drinking and the majority can afford TV's, Videos, CD systems and mobile phones?

Reduce debt by reducing luxury's for a start...

Jul 29 2003 11:36

Hang on, I've never known anyone at uni to go out and buy a TV or video by themselves. Most people either bring them from home, have them as part of the furnishings of wherever they are renting, or club together and buy collectively.

I'm not sure how you define luxury, but if you ask most people in the country whether trying to live on ?5k a year in the most expensive city in the country (if not Europe) fits the bill, I don't think many would agree.

But this is a digression. We're supposed to be discussing the huge avoidable debts after uni, rather than the poverty during it.

If you leave Imperial with about ?15k worth of student loan and pretend it's just a graduate tax that you'll have to pay until retirement age, you can get away with earning just over ?17k a year, using the new interest rate.

If, however, you actually want to treat it as a loan and try and pay it off before you're 30, you'd better start looking for a job with a staring salary of at least ?31k.

Hmmmm ...

Jul 29 2003 11:43

And that's before you've even considered adding top-up fees into the equation.

Jul 29 2003 16:41

And don't forget us poor sods who have signed up for PhD's...

9. stef   
Jul 29 2003 19:08

maybe you should substitute 'mad' for 'poor'

Jul 30 2003 11:11

And don't forget to start saving for your pension :(

Jul 31 2003 18:07

In reply to Barry:

I though interest rates in the UK were at an all time low.... as is inflation (to which Student loans are tied).

Closed This discussion is closed.

Please contact the Live! Editor if you would like this discussion topic re-opened.