Monday, 5 October 2009

What Kind of Fuckwittery Is This?

From The Conservatives:-

The Shadow Universities and Skills Secretary explained that the new places would be paid for by introducing an early repayment bonus for existing graduates repaying their debts to the taxpayer ahead of schedule.

OK... can someone explain the sums of this? People already pay interest on their student loans once they reach a certain salary. If you give people a bonus, that will not only cost money, but you'll lose the interest (which I think is at the rate of inflation). Not sure how it adds up, but I can't see it making much money. Sounds more like a giveaway to people with rich parents to me: borrow money for tuition, do your course, mum and dad pay it off and get an early bonus.

"With one in six young people not in work or education or training, it is vital that we prevent a similar crisis next year. Our plan to give graduates a discount for repaying loans ahead of schedule will give thousands more young people the opportunity to go to university, rather than staying on the dole."

If you're a young person and unemployed, it's either because you've got NO qualifications, are lazy, or are too picky. Universities aren't going to take people with no GCSEs, so how this cuts unemployment I don't know.

h/t Mark Wadsworth

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