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Student Debt

What is university debt? My case.

What is University debt, college debt, student debt…?
  • When a person studying takes out credit, “money” which is not their own to “make an investment” i.e. pay for their tuition fees. In hope that after studying they would be more employable are well paid and quickly pay off their loan.
The UK:
Before I begin, I would just like to address all those who believe in politics.
To people who blame the Tories or Labour or the Liberals… who think that it was one or the other party or parties fault. That is all a bunch of swine.
All parties are the same, they follow the same agenda, ever wondered why nothing changes when a new party is elected? Because the new one just picks up where the previous one left off.
Below you will see a time line which illustrates this and I want students with short memories to look back and remember the Liberal Democrats and remember what they did, and how they promised to make University free and how so many young people wanted to vote for them, and now remember all of the LD MPs who all voted for (abstain basically is a vote for) tuition fees to rise, the exact opposite of what they promised. YAY another deception point for politics!
It seems to not make sense, they lie so much with no repercussions, in fact rewards, because it is all a game and lying is their sport. They know what they are doing. They just want to see if we are daft enough to go along with it all. And guess what? We are.
A time line on the history of tuition fees, which can show you how the agenda has progressed throughout each party being in power:
(taken from: http://www.telegraph.co.uk/education/educationnews/8057871/Grants-loans-and-tuition-fees-a-timeline-of-how-university-funding-has-evolved.html)
  • 1962 Mandatory maintenance grants are introduced for students to cover tuition fees and living costs.
  • 1980 Student grants are increased from £380 to £1,430.
  • 1984 The Conservative Education Secretary Keith Joseph abandons plans for parents to be made to contribute to tuition fees.
  • 1989 The Tories freeze grants and introduce student loans. Grants of up to £2,265 remain available for poorer students, while loans of up to £420 are on offer to all applicants.
  • 1996 John Major, the Conservative prime minister, commissions Lord Dearing to make recommendations on higher education funding.
  • 1997 Labour is elected on a manifesto which includes a commitment to ensure that “the costs of student maintenance should be repaid by graduates on an income-related basis …”The Dearing report is published. It recommends that students should pay approximately 25 per cent of the cost of tuition but that government grants should remain in place. David Blunkett, the Labour Education Secretary, announces the introduction of £1,000 tuition fees to be paid by every student in each year of study, beginning in September 1998. The student grant of £1,710 is abolished to be replaced by means-tested student loans.
  • 1998 The Teaching and Higher Education Act is passed into law – setting an annual tuition fee for England of £1,000. Means testing means a third of students will not pay anything.
  • 1999 A committee led by Lord Cubie begins a comprehensive review of higher education funding in Scotland. The Cubie report recommends in December that tuition fees in Scotland should be scrapped and the Scottish executive should fund higher education in full. Students would be required to pay £3,000 of it back when their earnings reached £25,000 a year.
  • 2000 The Scottish executive accepts Lord Cubie’s proposals, with one adjustment. Students in Scotland must now pay back £2,000, not £3,000, but repayments start once earnings reach just £10,000 – way below the £25,000 recommended.
  • 2001 Labour is re-elected with a manifesto pledge that it “will not introduce top-up fees and has legislated against them”.
  • 2002 More than 80 Labour backbenchers support calls to scrap tuition fees.
  • 2003 Less than two years after pledging not to introduce top-up fees, Labour publishes a white paper setting out proposals to allow universities to set their own tuition fees up to a cap of £3,000 a year. The fees will be repaid once graduates earn above £15,000 and will be accompanied by a means-tested package of support.
  • Tony Blair faces his biggest backbench rebellion as prime minister in a vote on top-up fees, with 72 Labour MPs voting against the motion. He wins by five votes. The government announces a full-scale independent review of the top-up fees system after three years in a bid to head off the rebels.
  • Iain Duncan Smith, the Conservative leader, pledges that all university tuition fees would be abolished under a future Tory government and condemning the fees as “a tax on learning”.
  • 2004 Charles Clarke, the Education Secretary, stands by his plans to introduce variable tuition fees but presents a series of concessions to Labour rebels in a bid to avoid defeat in the Commons vote on January 27.
  • Amendments to the bill include an increase in the maintenance grant for the poorest 30 per cent of students from £1,000 to £1,500. There will be an independent review of the £3,000 fee cap after three years. Student loans will be increased to meet the real cost of living, and all student debt will be written off after 25 years.
  • 2005 Almost all universities set fees at the maximum level of £3,000 per year, while about eight out of 10 offer bursaries to students from low-income families.
  • 2006 Students starting university in the autumn become the first to be charged the higher £3,000 fees. Universities say they still need £1.3bn in extra funding. Conservative leader, David Cameron, says tuition fees are unavoidable. “The money’s got to come from somewhere.”
  • 2008 The National Union of Students drops its opposition to tuition fees.
  • 2010 Lord Browne recommends that students should pay at least £21,000 for a three-year-degree in the most radical shake-up of higher education funding for 50 years.
  • (Added by me)2011 students under the collation Lib Dem, Tory (ConDemnation) Government fees rise to £9000 a year.
(Picture source wikipedia)
My situation and my mission:
2 years ago, I was a dumb 18-year-old, just having finished my A-levels. Which is equivalent to a high school diploma, what you get when you are 18/17.
I just missed my first choice Uni so I ended up at Loughborough. Not a bad second choice many of you may say. I remember the first day of freshers week calling my mum and pleading with her to not make me have to stay. Because I knew what I was getting into. And I knew what debt was and I knew how Uni worked. (Yes, I knew it all, almost.) It was like upper 6th on steroids. The pleading failed however. And after a revealing first year. Worse than what I expected I could take no more. Now, I am on a mission to help students really think about what they are getting themselves into. And how they can get out of it.
Your teachers, nor parents would really know what is going on. Most adults are stuck in this arrested state where they think that just because they did things a certain way when they were young, means that so will their children.
This is natural, however things have changed. The “adults” (older perpetual teens) today have short memories, because the way their parents did things is a lot different from the way they did things and so will it continue in this system as things seem to just speed up in front of our faces.
But back to the point, after witnessing all the bingeing and all the recklessness. One of my lectures told me to try to get more involved. Whatever that means. But beside that. With the UK economy and the US too going the way it is going, they I would say,
  • unless you are seriously a genius with more than 2 A*s at A level, set to study at Oxbridge, Imperial, LSE or UCL.
  • Or studying some kind of bio tech science or electrical la-di-da at a really renewed Uni.
  • Or somewhere cheaper in Scotland or something. OR if you have your fees paid for you.
Then forget about University in the UK or US. Really it’s not worth it.
The teachers and professors WILL LIE to you because their jobs are at stake.
Why would you tell your student to quit Uni or not to go? University does not have to be the only next step and that ridiculous masonic flattened caped (dumbed down) gown that they make you wear is not something you should really aspire to.
We have been told in the UK that we are about to see some real austerity measures being taken. Austerity is not a nice world, but in comparison to tyrannical decisions inducing poverty, that seems better.
Whilst in the meantime we seem to “follow” the US into every country they wish invade under the UN authority, the UN being this new tyrannical governing body, washing billions of pounds and the lives of men down the drain. We still pump money into the EU and into foreign aid. When we in this country have to really “suffer” (for some, soon for most), and have our economy raped and ripped apart as well as having our industry and parks are sold for what? To pay off debt to the bankers who got us in this mess in the first place, still getting paid bonuses, slashing interest rates ‘monetary easing’= quantitative easing=QE2 and printing money and selling off our gold reserves (referring to Gordon Brown primarily). It doesn’t make sense!!!
And remember what I wrote before what doesn’t make sense must have been pre planned to not make sense. The UK is going down fast and the funny thing is that people wont notice or do anything about it untill they personally have been effected.
So why they hell are they telling students to go to University? Why?
It’s simple.
To turn you into a debt slave (put you into servitude) so that it will resemble situations in the US, where students are manipulated into astronomical amounts of debt in a failing economy set for massive inflation (in the US 100,000 student debt isn’t unheard of, we may not get to those amounts but the fact is paying it off it all the more unlikely) to top that off with low job prospects of any sort. (And maybe put you in prison I’ve heard of a cases like that in the US)

http://www.allgov.com/Controversies/ViewNews/Supreme_Court_Takes_a_Step_Closer_to_Debtors_Prison_110622

Debt is not cute. It shouldnt be normal. In the past what has happened to debtors is not pretty. Historically they end up having to work for free to pay of an ever-growing debt living on scrap and or selling off assets which could be worth more than the debt, whilst the interest build and keeps them trapped.
So what if you still want to go to Uni, and don’t care about debt all this is over reacting anyway… I’ll discuss that in the flowing piece.
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Discussion

One thought on “What is university debt? My case.

  1. Hi, this is a comment.
    To delete a comment, just log in, and view the posts’ comments, there you will have the option to edit or delete them.

    Posted by Mr WordPress | 09/07/2011, 9:57 am

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