women allegedly sells her son to fund a WDW Trip

[Dimplenose]

We will be putting as much as we can onto the loan, unless he gets a fantastic job it will never be repaid. They don't start repaying until earning over £21k, at £22k the repayment amount is £90/year.
http://www.moneysavingexpert.com/students/student-loans-tuition-fees-changes

I read that site a while ago and it was that that started the confusion. I was very lucky to go to a Polytechnic with a full grant and no tuition fees and want to give my kids the chance to come out of higher education without debt.

I am very wary of having loans and have always savd up for everything I've bought (apart from the house mortgage.) But it seems silly to pay of DD's loan - especially as she is a woman and is more likely to have career breaks or work part time in the future than her brother.

DH and I did the same course (that's how we met ) and graduated in 1984 if we had had loans under the same rules as now he would still be paying and I would have just made contributions for the 6 years I worked full time before having the kids.

Oh, for a crystal ball!!

 

[disneyholic family]

so since we're talking university tuition - DS is in university - in the four year engineering program...
tuition is £1,000 a year.....so that's not bad...and it's one of the top two engineering programs in the country.....he's only just starting his 2nd year, so still a ways to go before he's gainfully employed, but i'm not worried about him...
(he made it through to the 2nd year - 20% of the class was not permitted to continue)...

here's hoping the job market when he finishes is as good as it is now....
currently, there are many more jobs than there are graduates to fill them....but who knows what the situation will be 3 years from now..

but the really good thing is, he loves it so far....that wasn't a sure thing...he liked the idea of engineering, but that's different than having to crunch all those numbers...as it's turned out, he's loving school....

 

[wayneg]

I am very wary of having loans and have always savd up for everything I've bought (apart from the house mortgage.) But it seems silly to pay of DD's loan - especially as she is a woman and is more likely to have career breaks or work part time in the future than her brother.

We are exactly the same, we have a mortgage ( £117/month, 2 years left to pay) everything else is paid as we get it but times have changed with education fees, I can see no reason to pay for a university education upfront, the loan(hopefully) improves the earning ability of the student and can therefor afford the fees over a 30 year period, if they don't earn they don't pay.
If you pay upfront and they don't earn you have paid out good money for no reason.
Hate to think of him starting out with this amount of debt but thats just the way its gone, not a lot we can do.

 

[chocomochamouse]

Back to the OP, I saw this story and managed to convince my kids I didn't see anything wrong in selling children to fund a Disney trip. Well, you have to keep them on their toes, don't you . . .

(Just in case anyone is wondering, I wouldn't really )

 

[ChipnDaleRule]

Anybody want a kidney? One careful owner

 

[Chilly]

We are exactly the same, we have a mortgage ( £117/month, 2 years left to pay) everything else is paid as we get it but times have changed with education fees, I can see no reason to pay for a university education upfront, the loan(hopefully) improves the earning ability of the student and can therefor afford the fees over a 30 year period, if they don't earn they don't pay.
If you pay upfront and they don't earn you have paid out good money for no reason.
Hate to think of him starting out with this amount of debt but thats just the way its gone, not a lot we can do.

I'm on the old system, I currently pay £101 each month towards paying off my loan, as i've never had that money I don't miss it, and when I finish paying my loan off (hopefully in the next few years) I'll feel very rich indeed with my salary going up more than £100 a month, I'll probably put that money into a Disney holiday savings account