Friday, 9 September 2011

Angry Rant about Student Finance

I imagine there are other people like me. I've been brought up to live within my means, to buy when I can afford, to abhor the 'buy now, pay later' culture. I abhor my student debts and I've lived like a pauper for the last three years so that I'll be able to pay it off as soon as I possibly can. I HATE the fact that it hangs over me. And I don't see why I should pay a penny in interest, when the costs are already ridiculously large at the beginning.

I'm a lucky one. I feel sorry for people born three years after me, who will face the £9000 debts a year, just in terms of tuition fees. Who won't have a choice but to have the debts with them until they're about 50 or however long it takes for the debts to be written off.

And so you can probably understand why this absolutely sickens me:

I can image that other people share my mentality. Who'll decide, when faced with £9000 of debt each year, to go to local unis to reduce their debts and who'll save as much as they possibly can during that time (with part time jobs and things) to try get rid of the debts as fast as possible. Not because they'll eventually become "high" earners. But because they can't stand the fact of living in debt all their lives.

And to celebrate such honest, hard-working people, the government wants to introduce penalties for paying off debts early. It won't apply to me, of course, and once again I can only feel so thankful that I was born in 1989 and not a few years later. But my heart goes out to anyone in later generations who has a similar mindset to me. It really does.

Hopefully such an evil scheme won't go through... The think tank says it won't be cost-effective, so hopefully the government will reconsider. After all, it's all about money.

I've always been in favour of a fair student "tax", which works on a sliding scale depending on your income. Tax sounds so much better than debt. Effectively, the government debt scheme is trying to BE a tax. So I don't get why they didn't just introduce one in the first place. It must be numbers. They think they can get more out of people by introducing a debt that builds interest. Horrible.

Well, angry rant over.

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