GoSeigen wrote:After about age 40 it is no longer payable.
It's 30 years after you start repaying it, so a bit longer than that.
Scott.
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GoSeigen wrote:After about age 40 it is no longer payable.
pje16 wrote:That's Plan 2
swill453 wrote:pje16 wrote:That's Plan 2
Well yes, and that's all new undergraduates starting today or in recent years. No need to overcomplicate it.
Scott.
GoSeigen wrote:xxd09 wrote:Student loans strike me as adults loading kids with adult responsibilities before they -due to their youth - are able to understand what they are getting into-this is not parenting as I understand it
xxd09
I think you are missing Gilongo's point. Student Loans may have a name which incorporates the word "Loan", but they are not a debt in the way that you are interpreting it. Loan is a misnomer IMO. They are more like a targeted tax. You get taxed the tax if you earn enough and if you are young enough. After about age 40 it is no longer payable. What other debt can you name that is linked to your income (not repayable if your income below a certain level) and only payable below the age of 40?
A more accurate name for the thing would be Graduate-Tax Funded Grant or some similar. So it seems to me that you deprived your offspring of a grant, or at best paid a huge lump sum up-front to relieve them of a bit of taxation in their 30s.
GS
Gilgongo wrote:I didn't mean this post to all be about student loans.
House prices/deposits and rent prices are the highest in real terms than they have ever been, pensions are nothing like what they used to be, and real median wages have been dropping for decades. Student loans are just another kicker.
I dunno why I posted this. TLF average age must be like 70 anyway.
Gilgongo wrote:pensions are nothing like what they used to be
xxd09 wrote:The Guardian figure of 50% of women under 30 in Britain having no children should make us all think
Probably a sensible response to hard times?
xxd09
swill453 wrote:GoSeigen wrote:After about age 40 it is no longer payable.
It's 30 years after you start repaying it, so a bit longer than that.
Scott.
swill453 wrote:Gilgongo wrote:pensions are nothing like what they used to be
They're not that bad. I was in Defined Contribution schemes all my working life since 1984, much the same is on offer to anyone starting work now.
For the State Pension, agreed it's 2 or 3 years later than I first expected, but the amount hasn't changed much in real terms - just about enough to live on if you're extremely frugal, much better when topped up by your own pension or savings.
Gilgongo wrote:
OK, but my point here is not to focus on any one aspect, but the COMBINATION of house rental, house prices, student loans, lower wages, declining rights and the possible arrival of USA-style private health care costs (which can and does wipe people out at a stroke - no pun in intended) is new. None of us have faced into that lot, but Gen Z will be.
This is why I wonder whether something will have to give.
dealtn wrote:Better in many respects to most prior generations.
Gilgongo wrote:dealtn wrote:Better in many respects to most prior generations.
Of course we're all living better than in the 1800's, or whatever. Just ask Monty Python.
What matters to the people who are living now is whether they can expect the same or better lives than their parents. And the answer to that is no. If you are 20 today, you can expect to be worse off than your parents born in the 60s/70s in terms of house ownership, disposable income, pension income, debt and cost of living (and they can expect to be worse off than their parents born in the 40s/50s). Adjacent generations have an emotional connection mediated by voting habits and outlook on the same life around them. This was the context of the conversation with my son. Who cares about whether great great grandpa ate dirt and died at 40? That's just not relevant, in the same way as the ancient Britons had it even worse.
dealtn wrote:On most, if not all of those measures I would expect the 20 year old today to have the opportunity to match and likely better their predecessor generations.
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