Emeritus Prof Christopher May1d ago

Not only is there a general problem in the way graduates' student debt is handled (hardly ameliorated yesterdays bounce interest rate cap at 6%), there is also a clear gendered dimension, perhaps most obviously demonstrated in the continued accrual of debt during maternity leave... once again raising the cost of motherhood.

Its a problem entirely the result of a (wilful) political misunderstanding of the social purpose of university education.

#graduates #politics

https://www.linkedin.com/pulse/90000-later-what-student-debt-really-does-women-amy-brooker-hvcze/

£90,000 Later: What Student Debt Really Does to Women

It’s taken over a decade for politicians and the media to pay attention to something I have been personally, professionally, and economically aware of since I was a member of the first cohort of students to be hit by the £9k student fees in 2012: student loans were going to be the next social mobili

Show threadBenoît Jones1d ago

@ChrisMayLA6
I also wish university (and any other form of post-18 training/education) were free.

But calling student loans 'debt' is misleading. For the vast majority, who never pay off the principal before it gets wiped, and who only pay according to their means each month, it is essentially a graduate tax. Whether the amount you 'owe' goes up or not is irrelevant!

Show threadEmeritus Prof Christopher May1d ago

@huxley

yes, Martin Lewis has been saying for years (rightly) that is is essentially a graduate tax

Show threadFrantic 🇬🇧 + 🇪🇺1d ago

@ChrisMayLA6 @huxley
Not wishing to pick an argument with either of you or the esteemed Martin Lewis.
I personally struggle to understand how money that is lent to a student by a quasi government organisation that has the word loan in its name isn't really a debt.

The money that is given comes with interest.

When sprog 2 went for a mortgage they weren't interested in what her tax rate was but they wanted to know about her student loan.

Show threadEmeritus Prof Christopher May1d ago

@frantictdrinker @huxley

The key issue is the debt forgiveness at the end, as explored in this thread

Show threadFrantic 🇬🇧 + 🇪🇺1d ago

@ChrisMayLA6 @huxley
Thanks guys.
Sprog 2 frequently explains this to me, while frequently rolling her eyes and probably wondering why I struggle with the entire concept.
I've also been a fan/follower of Martin Lewis since becoming a Debt Free Wannabe on his MSE Forum something like 20 years ago.

I'm sorry, it's me not you. Some things just struggle to make it through my head. For example I was nearly 11 when I learned to tell the time and 12 when I realised I wasn't doomed to go to school for ever.

Show threadBenoît Jones
@frantictdrinker @ChrisMayLA6 You're not alone - pretty much everyone I've ever talked to has the same issues with student loans!
Apr 8 at 5:04pmWeb