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[aaronjb]

And anything over 50 grand, income tax @40%. That's 71% gone.

Psh, that's not even the highest rate tax.

No, 45% over £150 grand....he won't ever earn that. I take it you do?

I do not, sadly.. there's also the loss of personal allowance once you are over a threshold (£125k now, I think, previously £100k) to drive the overall percentage up some more.

Don't even look at secondary taxes (VAT, fuel duty, insurance premium tax etc).. I'm sure the effective tax rate is about 120% at this point

[STEMO]

When you look at it, it's just a way of going back to university being just for the privileged. Rich kids parents pay the fees up front, so they keep more of the money they earn.

[Doctor Gollum]

When you look at it, it's just a way of going back to university being just for the privileged. Rich kids parents pay the fees up front, so they keep more of the money they earn.

Not at all, but it will focus those who genuinely want to go.

PAYG and a flexible job should suffice... It should be affordable from flipping burgers or delivering pizzas/parcels 20 hours a week. If that means not getting wasted for three years, good. Might teach the snowflakes a thing or two about responsibility along the way.

[STEMO]

When you look at it, it's just a way of going back to university being just for the privileged. Rich kids parents pay the fees up front, so they keep more of the money they earn.

Not at all, but it will focus those who genuinely want to go.

PAYG and a flexible job should suffice... It should be affordable from flipping burgers or delivering pizzas/parcels 20 hours a week. If that means not getting wasted for three years, good. Might teach the snowflakes a thing or two about responsibility along the way.

God you talk shite sometimes.

[Doctor Gollum]

Possibly, but would you rather your son, for example, didn't have a £40k debt to deal with?

[STEMO]

Possibly, but would you rather your son, for example, didn't have a £40k debt to deal with?

It will be closer to £70K when he's finished. His accommodation is £6K a year, and that's in student halls.

[Nick W]

I worry. If he earns, say £50,000 a year...20% income tax, 12% NI, 9% student loan and, if he goes into teaching, 10% pension contributions. That's half his wages gone before he sees them.

I know a couple of 30year old teachers who can't afford any sort of payrise as they'll have to start paying off the loan rather than just the interest.

[Raeturbo]

It that case it’s no longer a loan but a donation

[Doctor Gollum]

I worry. If he earns, say £50,000 a year...20% income tax, 12% NI, 9% student loan and, if he goes into teaching, 10% pension contributions. That's half his wages gone before he sees them.

I know a couple of 30year old teachers who can't afford any sort of payrise as they'll have to start paying off the loan rather than just the interest.

Are they retarded? Why on earth would otherwise intelligent people deliberately put themselves in that position?

[Doctor Gollum]

I worry. If he earns, say £50,000 a year...20% income tax, 12% NI, 9% student loan and, if he goes into teaching, 10% pension contributions. That's half his wages gone before he sees them.

I know a couple of 30year old teachers who can't afford any sort of payrise as they'll have to start paying off the loan rather than just the interest.

Are they retarded? Why on earth would otherwise intelligent people deliberately put themselves in that position?

That's like saying they don't want to earn more in case they pay more tax.

[Raeturbo]

I would say a person would be very lucky and should be grateful to be in that position. It was the loan that enabled them to get where they are and so they should be only too willing to pay it back especially as there is a large majority who have to manage on far less than a third of that and pay taxes etc and little chance of earning more. Besides when the debt is paid its full pay again, and
£50,000 ain’t a bad wage.

[STEMO]

I would say a person would be very lucky and should be grateful to be in that position. It was the loan that enabled them to get where they are and so they should be only too willing to pay it back especially as there is a large majority who have to manage on far less than a third of that and pay taxes etc and little chance of earning more. Besides when the debt is paid its full pay again, and
£50,000 ain’t a bad wage.

That's the thing, it will never be repaid and is written off after 30 years.......when you're in your mid fifties.

[Raeturbo]

Mm, not good.

[Doctor Gollum]

Be interesting to try and get a mortgage with £70k worth of student loans hanging around your neck...

Let alone afford one whilst trying to avoid earning enough to repay the student loans

[STEMO]

Be interesting to try and get a mortgage with £70k worth of student loans hanging around your neck...

Let alone afford one whilst trying to avoid earning enough to repay the student loans

Yep. I raised these concerns when he first said he was going to uni, but was shot down in flames by him and the wife(who went to uni for free). So I've washed my hands of it, I'll probably be sitting in the corner dribbling by the time he starts worrying about it.