by jamesbaker on 13 April, 2015
This 23 year old student Lance nails it on tuition fees. He makes the point the system we have now got is essentially a graduate tax as no one pays the money up front, and that you only pay back the money University costs if you start earn over £21,000. Once you earn over £21,000 you pay back 9% of all your earnings above that amount until your fee is paid off or after 30 years. This means many people will never even have to pay back everything their university education costs.
It’s for this reason that Labour’s proposals to cut tuition fees to £6,000 a year would only benefit wealthier people with a starting salary of £35,000. It’s this reason why finical expert Martin Lewis from the Money Saving website called their plan’s economically illiterate.2 Comments