> Right, but you still have to take out a 35k loan, and pay 9% of your earnings for 25 Years, or until it's paid off. That definitely doesn't sound like having to pay nothing to me.
The student loan really isn't that big of a big deal, because it's 9% of your salary OVER £25,000. So at the moment on £27k, I pay about £15 a month. If I stop going to work or earn less than £25k then I won't have to pay anything back (unlike normal loans).
Ideally the tuition fees would be free like in Scotland, but the English loans aren't as big of a deal as you're making them out to be.
The student loans also include money for living costs (if desired), some of which is free (and doesn't have to be paid back) depending on household income. We also pay year by year, so we wouldn't have to commit to £35k straight off the bat, just £9k per year. So if you decide to drop out after first year, you'd be in £9k of debt (or slightly more if you took out extra money for living costs).
The student loan really isn't that big of a big deal, because it's 9% of your salary OVER £25,000. So at the moment on £27k, I pay about £15 a month. If I stop going to work or earn less than £25k then I won't have to pay anything back (unlike normal loans).
Ideally the tuition fees would be free like in Scotland, but the English loans aren't as big of a deal as you're making them out to be.
The student loans also include money for living costs (if desired), some of which is free (and doesn't have to be paid back) depending on household income. We also pay year by year, so we wouldn't have to commit to £35k straight off the bat, just £9k per year. So if you decide to drop out after first year, you'd be in £9k of debt (or slightly more if you took out extra money for living costs).
Source:
https://www.gov.uk/repaying-your-student-loan/what-you-pay