debt and education

[Kite]

just recieved a letter today telling me how much i currently owe to the government for 1 year of university

almost £9000.
every month it go'es up £17 because of interest, and as im on a gap year, i have no money to begin to pay anything,
i start back in september 2008, after completeting that year, interest will be £34 / month (provided interest doesnt go up again). by the time i finish i have to pay around £90 interest (minimum) a month and will owe around £36000.

thats $72000 USD. for a crappy degree from an average uni, which in this day and age, you need a 2 year post degree before a company will look at you with 1 year work expierence. i could have easily got into a top universty if i didnt have to spend 24hrs a week working during all my college years.

sometimes i believe we live in a meritocricy, (sp) where ones ability gets them to places; then i look at this and realise the government looks after its own, the higher class, and shits on the working class, they give equal opportunites but theres always the extra shit poor people have to to get what the higher ups get for free. these road blocks make it so difficult.

what pisses me off was a member of the royal family got same grades as me, and every one was like so proud, WTF is that person mentally retarded, with unlimited help and support, no financial stress, the only worry in life is not to make a racist comment infront of a camera. they get average grades, and can go to any university in the world.

you can tell the hardest most dedicated person in a room at a university, as he / she is the one sleeping at the back of the room, because that work 2 or 3 jobs. most likly sleeps 4-6hrs a night and works every hours they are not on a bus to or from uni / work or sitting in a class room.

this is my rant, sorry for sharing :_:

[Sledgstone]

Damn thats some costly money. Its like that in the states to, they hit you with all these costs and interest you are pretty much forced to finish your degree to get a higher paying job because otherwise you'd have no chance in hell of ever paying off your college debt. Can you refinance at all to get a lower rate? Maybe once you'd accumulated enough debt they'll consider you extremely poor and then help out?

What I always find messed up is how the system is set to keep the rich richer and poor poorer. If you have a crapload of money in the back, the money will earn you massive interest and basically your money will keep making you money.. but if you have debt, that same interest will earn you more debt and keep you poor off your ass.

I probably pay about $100+ a month in debt finance charges because of credit cards and a car loan. I can only imagine your finance charges for $72000. ouch. x_x

[Ladywriter]

can ya get some debt counseling? maybe consolidate all yer debts with a lower interest rate?

[Myk JL]

I feel sorry for you kite. One of the reasons to why I stay away from college.

[Mathias]

There are many grants, scholarships, and charities available to help people in need. I did the research, earned the grades in H.S., and had most of my college paid for me. I paid the rest of my tuition by working 20 - 30 hours a week at a restaurant, until I started up an internship available through my college. I wasn't the most qualified, smartest, or deserving, however, I was the most determined. If you're determined enough, you'll find a way to get through college and pay your debts off in the end. Good luck!

[Kite]

can ya get some debt counseling? maybe consolidate all yer debts with a lower interest rate?


it is one debt, i cant do anything about it, it is all owed to the goverment,
also the interest rate isnt too high compared to what any independent load company can offer. it costs £3000 per year at uni, and they give around £5000 extra to you so you can survive, and most uni's charge 50£ per week rent out of london and in london can cost up to £150 per week to live on campus. you cannot claim benefits such as income support or unemployment money as a uni student either as the government is loaning you money. you get free counsil tax. (council tax is youpay minimum £70 p/month just because you live in an area) some areas are over 130£ p/m.



my problem is, im poor tbh. so i have to take a loan to go university, and when i get my degree i wil have no choice but to work any job i can reguardles of it to stop interest mounting.
it is a system designed to hurt the poor and keep the rich happy. i pay national insurance (like health insurance NOT OPTIONAL) every pay slip. tax to the government, Council tax AKA oxygen tax, TV licence (you need a licence to watch tv) Road tax, you need to pay tax to drive. now in London, they have congestion charge £28 per day to drive in certian areas. (which expands at a large rate per year)

but what realy pisses me off is every politition went to uni for free, and they all went to uni, they said: you dont need a degree to do well. So why the fuck do they all have them, and now changed the law so all students have to pay to go. most unis just want to fill up their spots as opposed to screening people for spaces on their course.

i know a doctor friend relative, who does not owe fuck all from uni, after 7 years studing. i want a crappy business degee so i dont have to become my father (a useless waste of oxygen) and becase of the new goverment legitation ill be minimum £35k+ in debt.
i explained this to my GF, now she is put off uni, which is what they want, less working classto go uni, so were stuck cleaning the streets, and fluffing pillows at hotels.

rich stay rich, poor get shited on


The UK does not offer scholoships like the US. if you get top grades they knock some money off per year,
but i didnt get top grades, as i had rent to pay since 16.


sorry to rant on. life just feels like a hammer to dreams at times.
i just cant accept becoming my father at all costs

[Ladywriter]

if ya think yer poor now just wait till baby makes 3

[gokuDX7]

this is why I'm grateful my parents and grandparents put away money for me in a savings account. I've seen allot of friends go through what you're going through. That really sucks.

[sakura_rainSTARZ]

try money managemoney international

they help consolidate your bills