Parents just won't get it

tomorton

Legendary member
8,418 1,342
They are meant to repay it eventually I suppose ?


Yes they are, but I understand the rate of interest is the lowest on the planet and if they're not earning above a very decent salary, no repayments are due anyway.

Maybe some students' parents out there know more about this than I do but it sounds like a no-brainer.
 

itspossible

Senior member
2,796 569
In my sense, elderly people don’t believe that now young generation can make money sitting around their computer screen all day long. Forex trading is a new way and option to make money from home and doing not much physical hard work. It is difficult to make our parents understand the future of Forex trading. That’s why Trade 24 has come with some good resources and supportive agent for their clients through which elderly people can gather knowledge.
GUYS GUYS-IN THE KINGDOM OF THE BLIND THE 1 EYED MAN IS KING
HES NOT INTERESTED AND IS JUST SPAMMING:whistling
 

seekingTruth16

Active member
149 24
Yes they are, but I understand the rate of interest is the lowest on the planet and if they're not earning above a very decent salary, no repayments are due anyway.

Maybe some students' parents out there know more about this than I do but it sounds like a no-brainer.

You start paying back at anything over £17,500 I think. That's not a great salary.

Besides, the students aren't likely to save that money, it will be spent, the government will recover a decent % of that amount in tax while you're still a student, and eventually you'll likely repay the full amount, plus as agraduate you'll probably earn a little more than you would have, and pay more tax...win-win
 

mike.

Senior member
2,101 709
You start paying back at anything over £17,500 I think. That's not a great salary.

Besides, the students aren't likely to save that money, it will be spent, the government will recover a decent % of that amount in tax while you're still a student, and eventually you'll likely repay the full amount, plus as agraduate you'll probably earn a little more than you would have, and pay more tax...win-win


Plan 2 is if you take out the loan after 2012.......

Your employer will take repayments from your salary during any pay period where your earnings before tax are over the weekly or monthly threshold.

By pay period, we mean each time you receive your salary. This could be every:

Week
Four weeks
Calendar month
The earnings threshold is:

£404 a week
£1,750 a month
£21,000 a year
You pay 9% of your income over the threshold


How to work out your monthly repayment amount

Take away £21,000 from your annual salary before tax
Work out 9% of the remainder
Divide that figure by 12
Round down to the nearest pound
For example, if you were earning £30,000 per year:

30,000 – 21,000 = 9,000
9% of 9,000 = 810
810 / 12 = 67.5
Round down
So your monthly student loan repayment would be £67.......(y)
 

tomorton

Legendary member
8,418 1,342
Blimey mike., nice summary. Sure sounds like free money to me.

But why are parents so wound up about these loans?
 

mike.

Senior member
2,101 709
Blimey mike., nice summary. Sure sounds like free money to me.

But why are parents so wound up about these loans?

it's just a copy and paste mate...(y)

Im going through the same situation at the moment with my eldest daughter..
I went to collage in my youth therefore a bit out of touch with todays university structure, so lately have been learning how further education works. Luckily we have a sixth form teacher in the family to keep us right, There are foundation courses at most uni's whereby you can study your chosen subject for one year, then providing you show interest and are able to cope ok your almost guaranteed to get on the course even if you didnt make the entry criteria. But yes, the loans are free money until you start making a half decent salary, then you start to pay them back.
 
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Signalcalc

Veteren member
4,670 1,030
The trouble comes when your child has spent all of his/her student loan on trading and then goes on to borrow more from the likes of Wonga et al (who really don't give a f#ck who they lend money to), who then goes onto lose all that money trading, who then can't pay for anymore university and can't get a decent job to pay back anything to anyone or pay for living expenses.

Not quite the start to life one was expecting. Now the OP might not be in the same situation but if one is sat on ones ar$e all day in front of a screen LOSING money, then one is likely to have a trading problem and then Wonga come knocking....

Parents eh, what do they know?
 
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mike.

Senior member
2,101 709
Agreed, Trading should be the hobby one has on those days off, after you have the degree and the job. Unless you have a degree in computer programming, and can code algos, then the banks might return your email.
 

tomorton

Legendary member
8,418 1,342
You know, it's quite a common situation when close people or friends do not take trading as a really serious activity that can provide stability and confidence in the future. Many people have the stereotype that this is just some kind of gambling, which is only necessary for you to invest as much money as possible and just become a real fanatic, who just can't live without it. Yes, it's not that easy, and I know a lot of people who hide from everyone that they trade. But in time, you can show your statistics and prove in practice that you can make money out of this case. Give your loved ones time to accept that. Although I understand that without support it is not easy to work and cope with difficulties, but it happens, and you have the resources to deal with it.


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cantagril

0 0
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Well put:)
 
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cantagril

0 0
It must be a generational gap thing, when I was young people would just write 'Bump'.
Forsooth!
....but regarding the actual content of Malordana's post: the young cannot see a future which to Old Gits is already in the past and all too visible to them. History allows one to see where we've been, to understand where we are now and (when considered judiciously) where we might be going.....but alas - and quite possibly, alack - generally speaking, you have to be older and wider to grasp that in existential terms; youth itself precludes the perspective.
 
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