Student Loans
This post is more or less bereft of content. It's merely here so I can place a little note in history. Then in a couple of years, maxiumum, I can refer back to it and say "I knew." ... Guys, I think we're going to get f-cked pretty hard sooner or later.
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Re: Student Loans
There would be good and bad points in a privatised/unregulated student loans market; presumably youd have to pay interest above inflation, but youd probably also be able to get a larger amount per year than the current system. The student overdraft situation is maybe the best comparasion; you can get really good deals through market forces alone without needing any regulation (I've got £2000 interest free or something).
Youre focusing on inessentials anyway, the parts of that to worry about are: Quote:
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I agree with you though. Keeping people in school until 18 is a terrible idea. |
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It's the start of a slippery slope. I predict that the government will need to give more incentives and flexibility to the private companies to take up these contracts after a while. These will probably entail an increase in interest rates and change in payback times, probably annulling some of the conditions where one does not have to pay it back at present, along with exposing eighteen year olds to the relative harshness of private companies. I can see a market and choice for students, which would be fine if it weren't for Michel's Iron Law of Oligarchy.
This is also a plus for the government because it slowly distances them from the problem of students amassing enormous amounts of debt and being put off university because of that, regulated or not. Society and its representatives should actually use the university system to increase the education levels of society's middle ground (i.e. not just the elite who run the country, who have enough money anyway), not just make money off them. It's obviously not so diametrical; however this is a clear win for the latter. |
Re: Student Loans
Since the debt itself (or my bit of it was, anyway) was sold off years ago, I did wonder sometimes why the government administered it tbh. It's not like the private sector doesn't have experience with lending people money.
There are of course numerous private companies with outrageous approaches to debt collection, but then again government will put you in prison for not paying your TV licence and at least one local authority in my area proudly advertise (boast?) how many families they've evicted for rent arrears. Why they should be so proud of this evident failure on their part in preventing arrears is beyond me. So yeah, the private secor are pretty shit, but so are the government. I used to be a strong believer in "this will make other, worse policies more easy" and in some cases that holds true. But what really holds shitty policies at bay is resistance (actual or anticipated) - through the courts, or the the street level bureaucracy, or the end users themselves. If a government at some point in the future wishes to **** the student loan holders the outcome will probably not be decided by whether it's a private or public agency administering the paperwork. Of course, if there was to be a serious policy change - in that the government would not guarantee the loan, or that not everyone would be entitled to them, etc then of course this would mean quite a lot of changes. The government would need to abandon many of their further education targets for one. |
Re: Student Loans
It's amazing how many people spoke of tuition fees initially as "oh it's only £1000, that's not much to pay for a year at uni" or some such thing.
What a lot of people fail to realise in a lot of education/NHS etc policies is that it's just a starting point and things will probably become a lot worse in the future :( Student loans seem pretty pointless for a private company to want in their current form though. |
Re: Student Loans
I'm not worried. I just take the 'ignore it and hope it goes away' attitude to life.
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Re: Student Loans
but they only make money on interest, and that's around inflation and only if the loan is actually paid back at all...
and my company charge 10% on everything :p |
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