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  1. #1
    Kanto Kanrei Member Marshal Murat's Avatar
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    Default Paying for your Edumacation

    I was browsing the backroom, and there was discussion about free (pseudo-free) university/college.

    I know in France it's almost free, and in America scholarships help lower the price.

    What is your countries form of public education beyond 18 years of age? Is it like France, or American, or something in between.
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    Medical Welshman in London. Senior Member Big King Sanctaphrax's Avatar
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    Default Re: Paying for your Edumacation

    In the UK, we pay £3K a year. However, in order to pay this we are given special loans, the rate of interest on which is at inflation, so you repay the same amount in real terms. Repayments are taken out of your paycheck automatically once you start earning above ~£15K, and stop if you aren't earning. You also get similar loans to cover maintenance, and grants if your family is low-income.

    I think it's a really good system, although the vast majority of students whine about it for reasons which, as far as I can see, amount to "I don't like being in debt".
    Last edited by Big King Sanctaphrax; 02-28-2007 at 01:28.
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    The Black Senior Member Papewaio's Avatar
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    Default Re: Paying for your Edumacation

    Depending on the course you do you can either pay up front ($2k to $7k per annum) or pay it as an additional tax once you pass an income threshold (the loan is indexed at inflation)... until the loan is payed off.
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    Hope guides me Senior Member Hosakawa Tito's Avatar
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    Default Re: Paying for your Edumacation

    Scholarships for most middle class students are pretty tough to come by. Many students graduate with debts ranging from $50,000 -$100,000 for decent State Colleges, much higher for the private colleges. My daughters' nursing degree cost daddy $80,000, I'm glad I was in a financial position to pay it. A young adult starting out with that large a debt had better nail that job they've been studying for or they are really going to struggle.
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    Arena Senior Member Crazed Rabbit's Avatar
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    Default Re: Paying for your Edumacation

    Quote Originally Posted by Big King Sanctaphrax
    In the UK, we pay £3K a year. However, in order to pay this we are given special loans, the rate of interest on which is at inflation, so you repay the same amount in real terms. Repayments are taken out of your paycheck automatically once you start earning above ~£15K, and stop if you aren't earning. You also get similar loans to cover maintenance, and grants if your family is low-income.

    I think it's a really good system, although the vast majority of students whine about it for reasons which, as far as I can see, amount to "I don't like being in debt".
    BKS, are students forced to take out loans instead of paying upfront if they are able? And does these apply to foreign students - could I go to Uni in England, get a job in the USA, and get the loans (and perhaps be less than diligent about paying them back)?
    Scholarships for most middle class students are pretty tough to come by.
    Very true.

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    probably bored Member BDC's Avatar
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    Default Re: Paying for your Edumacation

    Quote Originally Posted by Crazed Rabbit
    BKS, are students forced to take out loans instead of paying upfront if they are able? And does these apply to foreign students - could I go to Uni in England, get a job in the USA, and get the loans (and perhaps be less than diligent about paying them back)?
    I think you can pay upfront, but why bother? Interest-free loans = free money. Go invest your £3k a year or something.

    Overseas students pay a hell of a lot more. Unless they're from the EU of course. For some reason the Scottish manage to have a system where Scots pay nothing, and everyone else pays. No idea how they've pulled that off seeing as everyone in the EU is supposed to be able to go anywhere and pay the same as the locals.

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    Time Lord Member The_Doctor's Avatar
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    Default Re: Paying for your Edumacation

    I think you can pay upfront, but why bother? Interest-free loans = free money. Go invest your £3k a year or something.
    The tution fee loan doesn't work like that. The money is sent straight from the Student Loans Company to the university.

    However, you can do this with the maintaince loan. Most of mine is in an ISA account.

  8. #8
    probably bored Member BDC's Avatar
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    Default Re: Paying for your Edumacation

    Quote Originally Posted by The_Doctor
    The tution fee loan doesn't work like that. The money is sent straight from the Student Loans Company to the university.

    However, you can do this with the maintaince loan. Most of mine is in an ISA account.
    Well yes, but a bank account with an extra £3k in it is better than one without that £3k because you used it to pay off fees in advance.

    Quote Originally Posted by sapi
    @sjakihata - they pay you to study?

    Where do I sign up?
    You can get an EMA here in the UK if you're 16, 17 or 18 and in college. Something like £30 a week, but only if your family earns below a certain amount. From my personal experience everyone who got it dropped out anyway after the first year (probably because no one in their family had much academic experience, so they had no idea how to work at alevel standard), or only got it because 'Daddy has good accountants'.

    The government does this because Britain has a horribly large percentage of drop outs at 16. This was fine back in the day when all most people did was go work down the pits, but now we don't need unskilled labourers, so they are desperate to try and get people trained up to a useful standard. Not sure it's working too well. Also fairly dubious about the benefits of having half the population go to uni only to do a media studies degree.
    Last edited by BDC; 02-28-2007 at 11:06.

  9. #9

    Default Re: Paying for your Edumacation

    Kindergarden, primary, highschool and university is completely free in denmark. that means the taxpayers pay for it, so i guess completely free is a moderated truth. students, however, do not pay one bit. on the contrary, for attending highschool (if you are 18+ years) or university the government pay you money just to go, it is around 4.300 dkr a month. that would be equal to around 7-800 dollars, every month.

    so Im happy with the system, it is important to motivate people to educate themselves.

    edit: in highschool they provide the books, in uni you buy them yourself and they are expensive in denmark.
    Last edited by Sjakihata; 02-28-2007 at 10:52.
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    Cynic Senior Member sapi's Avatar
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    Default Re: Paying for your Edumacation

    Australian - hecs, as Pape explained.

    tbh (and as someone who will soon have to use it) it's not a great system, especially considering that universities were free under labor.

    we have a skilled labour shortage for a reason :(

    EDIT:

    @sjakihata - they pay you to study?

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    Nobody expects the Senior Member Lemur's Avatar
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    Default Re: Paying for your Edumacation

    Quote Originally Posted by Marshal Murat
    In America scholarships help lower the price.
    Hmm, scholarship money ain't so easy to get for undergraduate work, unless you happen to be a sports star or a minority. The Lemur was a National Merit Scholar, and let me tell you, it was peanuts. Some days it doesn't pay to be a middle-class prosimian.

    Most Americans take on loans to complete their undergraduate degree. Yes, there are government guarantees that make those loans easier to get, but the perverse thing about our system is that those guarantees make foreclosing the loans very attractive for the lender. In other words, if I'm guaranteed a lump sum if you default, why should I wait ten years for you to pay the loan back? Better to take any excuse to declare you in default, and get my money faster.

    It's kind of insidious. I came out fine, but I know a guy who got seriously jacked by the bank because they knew they'd get their money no matter how they behaved ...

  12. #12
    The very model of a modern Moderator Xiahou's Avatar
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    Default Re: Paying for your Edumacation

    It cost me about $20,000 in loans for my B.S. degree. It's a lot of money (which I'm still paying off), but the interest is very low and the payments are totally manageable. My parents were smart enough to start a savings account for me when I was born, which they put towards my lodging, books, ect- leaving only tuition to be paid for with loans.

    I suppose it must vary by state, but I've had no trouble whatsoever with any of my lenders. In fact, I never deal with them at all- everything is handled thru PHEAA.
    Last edited by Xiahou; 02-28-2007 at 07:00.
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    Feeding the Peanut Gallery Senior Member Redleg's Avatar
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    Default Re: Paying for your Edumacation

    Quote Originally Posted by Xiahou
    My parents were smart enough to start a savings account for me when I was born,
    I am using the state lottery plan to pay for my son's edumacation. A dollar a week into the lottery - one day soon it's sure to pay off...
    O well, seems like 'some' people decide to ruin a perfectly valid threat. Nice going guys... doc bean

  14. #14

    Default Re: Paying for your Edumacation

    Quote Originally Posted by Lemur
    Hmm, scholarship money ain't so easy to get for undergraduate work, unless you happen to be a sports star or a minority. The Lemur was a National Merit Scholar, and let me tell you, it was peanuts. Some days it doesn't pay to be a middle-class prosimian.
    Things have changed since your day, many colleges have guaranteed scholarships for national merit.

    I'll have about $20,000 in loans after I finish private school. Pell grants help, but room and board costs a bit more than that and it's only since this year we qualified for them.

  15. #15
    American since 2012 Senior Member AntiochusIII's Avatar
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    Default Re: Paying for your Edumacation

    Any nice scholarship suggestion for the high school senior/college freshman to be?

    See, I'm desperate for money. And since they don't believe that my great-great grand uncle was high chief of the Attapacua tribe and his wife was a descendant of a certain sharecropper in Alabama half of them are kinda closed to me. Also, since I'm not exactly the kind to pretend I actually do anyone any good to sign up for every clubs & "community service" organizations under the sun the other half are also kinda closed to me too.


  16. #16

    Default Re: Paying for your Edumacation

    I believe we are like the American system, but the Labour government has introduced 0% interest on student loans which makes life easier for students. And there are pleanty of scholarships that can be obtained to help pay for university education too. I think it's quite good here.

  17. #17
    Philologist Senior Member ajaxfetish's Avatar
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    Default Re: Paying for your Edumacation

    Quote Originally Posted by Sasaki Kojiro
    Things have changed since your day, many colleges have guaranteed scholarships for national merit.

    I'll have about $20,000 in loans after I finish private school. Pell grants help, but room and board costs a bit more than that and it's only since this year we qualified for them.
    My school picked up the national merit program between my freshman and sophomore years. I had about half tuition covered by scholarship my first year, and now all of it, and so far no debt!!

    Still got to figure out how I'll be financing grad school, but I should come out in good shape with my BA.

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    zombologist Senior Member doc_bean's Avatar
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    Default Re: Paying for your Edumacation

    500 euro a year, books and living expenses not included.
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    Time Lord Member The_Doctor's Avatar
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    Default Re: Paying for your Edumacation

    are students forced to take out loans instead of paying upfront if they are able?
    No, they are not forced to take out a loan.
    Last edited by The_Doctor; 02-28-2007 at 10:41.

  20. #20
    TexMec Senior Member Louis VI the Fat's Avatar
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    Default Re: Paying for your Edumacation

    Quote Originally Posted by Marshal Murat
    I know in France it's almost free, and in America scholarships help lower the price.

    What is your countries form of public education beyond 18 years of age? Is it like France, or American, or something in between.
    Almost free!? It's a whopping € 10 to € 45!

    Per month!!!1!11!!!!

    So unless you have rich parents this forces you to waste your time working jobs for like five, maybe even ten hours a month. Precious hours which should be spend writing brilliant post-modern critiques about failures like these of our postindustrial atomised neoliberal society.
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