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PostPosted: Thu Feb 17, 2011 12:29 pm 
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We are awaiting an offer (hopefully) for an independent school (we would not be eligible for bursary). My ds has also passed the 11 plus for grammar however we don't expect to get one on allocation day due to being OOC. We were thinking we would not go down the appeal route if we did not get a grammar but with university fees now on the agenda we wonder if we should appeal and if lucky ditch the independent school fees and save for the university fees. My partner and I both went to comprehensives and then Oxford Uni. and I would hate to see any of my three children finish university with £51,000 debt (My partner did 6 years at Oxford in total so would have accrued this amount if paying 9K per year).

Anyone else having this debate ?


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PostPosted: Thu Feb 17, 2011 2:16 pm 
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Know how you are feeling.

We have a guaranteed place at one of the grammars in our area and if lucky our first choice which usually takes all in county that passed the tests.
We have also been offered a place at a very lovely Indie which is the same distance in terms of travel and we are certainly not eligible for bursary.
To do or not to do?
Is the extra cost worth the extra dd will get at the indie. Really want her to go to the Indie as I love the school but as I dont lots of cash waiting around to be spent and will have to keep working for someone else (company) to pay the fees, is it worth doing?
I will certainly want to pay Uni fees for them as I cannot dream of my kids getting into debt for UNI.


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PostPosted: Thu Feb 17, 2011 3:20 pm 
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I hope to have the same problem come March 2nd when I know what school my DS has been allocated. I too feel that I'd rather save up for DS's university fees and future house deposit, but only if he gets my preferred school, but I'm still wondering if that's the right approach. I guess that if I have any doubts about the state school, I can always look at moving him at age 13 or age 16.


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PostPosted: Thu Feb 17, 2011 3:35 pm 
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thats exactly what am thinking as well. Apply for 13+ places now just in case we need it then. Rather that than moving her the other way.
goodness know how much Uni tuition fees will be in 6yrs time. food for thought


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PostPosted: Thu Feb 17, 2011 3:41 pm 
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The proposed fee structure that is being brought in will mean that no up front fees can be paid, nor can the loan be paid off quickly so it makes no difference on the option you choose.

The loan gets paid off in thirty years and some will pay much, much more than the fees because their earnings will be high and others will pay less, or even none at all in a few cases. But as I said above, the plan is that it cannot be paid off early and the fees cannot be paid up front.


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PostPosted: Thu Feb 17, 2011 3:41 pm 
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I opted for the state GS places and will save for some help at Uni. It is not just the fees but the maintenance they need as the loans go nowhere. I am concerned that a future government will still bring in the graduate tax and write off the old fee loans.... may not be such a good idea to pay them upfront :?:


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PostPosted: Thu Feb 17, 2011 3:43 pm 
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Waiting_For_Godot wrote:
The proposed fee structure that is being brought in will mean that no up front fees can be paid, nor can the loan be paid off quickly so it makes no difference on the option you choose.

The loan gets paid off in thirty years and some will pay much, much more than the fees because their earnings will be high and others will pay less, or even none at all in a few cases. But as I said above, the plan is that it cannot be paid off early and the fees cannot be paid up front.


Interesting - I wondered if this would happen .. becomes effectively a tax anyway! Have you got a link to the bit about not being able to pay upfront??... I know you can't pay off lump sums once the loan has been taken out.


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PostPosted: Thu Feb 17, 2011 3:52 pm 
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I don't think this is very clear at present.

This extract from the

BBC http://www.bbc.co.uk/news/education-11483638


Can students pay back their loans early?

The rules have not yet been set on this. Mr Willetts has said it is "important" that higher earners are "not able unfairly to buy themselves out" of the system by paying their loans back early.

He has said the government would consult on penalties for early repayments, saying that there might be a 5% levy on repayments over a certain amount each year - or on early repayments made by graduates with incomes above a certain threshold, such as £60,000.

Wealthy students will, however, be able to pay their own university fees up front, avoiding accruing any debt at all.


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PostPosted: Thu Feb 17, 2011 3:57 pm 
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Joined: Sat Oct 09, 2010 10:46 am
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from the BIS website:

Graduates will not make a contribution towards tuition costs until they are earning at least £21,000, up from the current £15,000. The repayment will be on 9% of income above £21,000, and all outstanding repayments will be written off after 30 years. This means all graduates will pay less per month than they do under the current system.

In order to make the system financially sustainable, a real rate of interest will be charged on loan repayments, but with a progressive taper:

* For graduates earning below £21,000, there will be no real rate of interest applied to their loan.
* For graduates earning between £21,000 and around £41,000, a real rate of interest will start to be charged, reaching a maximum of RPI plus 3%.
* Above £41,000, graduates will repay at the full rate of RPI plus 3%.

Under our new more progressive repayment system, around a quarter of graduates, those with the lowest lifetime earnings, will pay less than under the current system.

The Government is committed to the progressive nature of the repayment system. It will consult on potential early repayment mechanisms so that people on high incomes are not able to unfairly buy themselves out of this progressive system. These mechanisms would need to ensure that graduates on modest incomes who strive to pay their contribution early through regular payments are not penalised.

can someone please explain this?are they proposing to actually stop students who do manage to get a high earning job (or otherwise)pay off their loans from repaying their loans early?

why would some students have to pay 'much much more than their fees' as WFG has said?doesn't seem fair.or i havent quite understood it all very well.

sgcmum


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PostPosted: Thu Feb 17, 2011 4:02 pm 
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As long as one can pay the fees up front to avoid debt all together then thats fine, if not may have to consider Uni in another country even though it will cost more. I dont see why peple will be forced into debt just for the sake of it.

I keep wondering too if the system will be changed again whenever another govt comes into power.


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