Economics of the mad house!

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ellal

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"Is the tuition fees 'illusion' about to unravel?"
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Although obviously successive governments here see it as a wonderful idea/opportunity...

Force people into debt from the start, allow their 'mates' to cash in on inflated salaries, sell off the loan book to private 'sharks', and fund a building/expansion program that party donors benefit from - all at the taxpayers' eventual expense!

No wonder that money 'saving' tw*t Martin Lewis endorsed it whilst making his millions...
'Virtual' money for a few, debt for everyone else!
linky

It is cheaper to have free tuition than to charge students. But this ponsi scheme (like all the others) needs willing/unwilling victims...

Other more civilised countries have realised this is wrong because they choose to invest in their major resource - people!

There is also a political bonus here. Radical thinking/action amongst students is massively curtailed on threat of expulsion but still with debts!
 
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Notch7 said:
Its kind of like financing hospitals with PFI -make future generations pay
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Exactly...

Only it doesn't show up on the balance sheet.

All political parties are to blame because they simply follow the orders of their financial masters!
 
Apart from the accounting anomaly, I wonder how they arrived at the figures.

What I mean is that before student loans, the tuition costs were whatever they cost or could afford - funded by the taxpayer.

With the loans, is any university going to say it actually costs less than the value of the loan so just give us {whatever}?

Also, a really good university might (I suppose) actually cost more than the loans, so where does the extra come from?

Or, does none of them actually cost anywhere near the loan value so just a profit funding fiddle by Osborne.
 
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EFLImpudence said:
Apart from the accounting anomaly, I wonder how they arrived at the figures.

What I mean is that before student loans, the tuition costs were whatever they cost or could afford - funded by the taxpayer.

With the loans, is any university going to say it actually costs less than the value of the loan so just give us {whatever}?

Also, a really good university might (I suppose) actually cost more than the loans, so where does the extra come from?

Or, does none of them actually cost anywhere near the loan value so just a profit funding fiddle by Osborne.
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You should listen to a brilliant podcast by Malcolm Gladwell who looks into the ever increasing costs of education in the US which we seem to want to copy.

They simply spent the money on large capital projects and quelle surprise it's exactly what our University are doing in the UK with large building programs.

Nice building run by PhDs scrapping for funding paid for by indebted students it's a Neo Liberal dream.

In the US even a personal bankruptcy cannot remove educational debt which you will take to th grave if you can't pay it off. It's abhorrent but we love copying so many of the idiotic policies in the US.
 
SirGalahad said:
You should listen to a brilliant podcast by Malcolm Gladwell who looks into the ever increasing costs of education in the US which we seem to want to copy.

They simply spent the money on large capital projects and quelle surprise it's exactly what our University are doing in the UK with large building programs.

Nice building run by PhDs scrapping for funding paid for by indebted students it's a Neo Liberal dream.

In the US even a personal bankruptcy cannot remove educational debt which you will take to th grave if you can't pay it off. It's abhorrent but we love copying so many of the idiotic policies in the US.
Click to expand...
Exactly...

And the 'average' taxpayer thinks it's a good deal because they stupidly think that those who study should pay!

Whilst not understanding that it is they (us) who pay through the nose for a ponsi scheme which leaves the majority worse off...

But then the dumbing down of the majority is part of the plan anyway!
 
SirGalahad said:
You should listen to a brilliant podcast by Malcolm Gladwell who looks into the ever increasing costs of education in the US which we seem to want to copy.

They simply spent the money on large capital projects and quelle surprise it's exactly what our University are doing in the UK with large building programs.

Nice building run by PhDs scrapping for funding paid for by indebted students it's a Neo Liberal dream.

In the US even a personal bankruptcy cannot remove educational debt which you will take to th grave if you can't pay it off. It's abhorrent but we love copying so many of the idiotic policies in the US.
Click to expand...


All part of the brexit plan no doubt too.

If we jump out of the frying pan (EU) and into the fire (USA). We will jump to their tune even more.
 
Notch7 said:
Given the number of UK universities high up in the world rankings, that seems unlikely.
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Are you saying these Unis were not high in the world rankings before the change to tuition fees? I take it you have studies at University - I was there 20 years ago.

Sometimes you should just not tow the party line even when you know it's wrong.

Until we all start pointing out bad policies from any party even the one you support we will just continue this bickering.

For the 2017-18 cohort of students, the OBR forecasts that only 39% will be repaid - and 61% will be written off, at a cost of £28bn.
 
SirGalahad said:
Are you saying these Unis were not high in the world rankings before the change to tuition fees? I take it you have studies at University - I was there 20 years ago.

Sometimes you should just not tow the party line even when you know it's wrong.

Until we all start pointing out bad policies from any party even the one you support we will just continue this bickering.
Click to expand...

Actually, I wasnt making a tuition fee / correlation.

I was responding to this, which appears to be some conspiracy theory suggesting the state wants people to remain uneducated:

ellal said:
But then the dumbing down of the majority is part of the plan anyway
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The whole university thing isnt good. There has been a drive towards going to university for years, with the result that many students go that probably shouldnt and too many courses are plain wrong. University should have stayed as the place for high academic study.
 
SirGalahad said:
For the 2017-18 cohort of students, the OBR forecasts that only 39% will be repaid - and 61% will be written off, at a cost of £28bn.
Click to expand...

Written off, at a cost of £28 billion?
As the State would have paid for them before anyway, what's the difference?
 
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