Oh sh*t! I got accepted to NYU grad school

Holy shit. I cant imagine getting in 70k of debt from NYU. Those guys are rapists. I wouldnt want to go to a school full of rapists.

  BCM said:

my degree left me with debts of just under £9000. I've managed to get that down to about £8000 in three years of paying the bastard off. they killing me on the interest man!

I feel your pain, but that ain't shit. I have to pay so much every month that the mere thought of getting health insurance is just absurd.

It's also scary to think that my ridiculous loans of nearly $80,000 are also a direct contribution to our nations current financial crisis.

  BCM said:

dunno. don't think so. it's with the Student Loans Company who are some kind of government agency or some shit.

Here in the States, you can refinance your government loans... it wouldn't hurt to look into it.

yeah, i'll look into it maybe. The Student Loans Company are really shit though. They basically haven't got a fucking clue what they're doing. it's trouble enough just getting them to acknowledge who you are.

  BCM said:

yeah, i'll look into it maybe. The Student Loans Company are really shit though. They basically haven't got a fucking clue what they're doing. it's trouble enough just getting them to acknowledge who you are.

From Wikipedia:

  Quote

In the UK Student Loan entitlements are guaranteed, and are recovered using a means-tested system from the students future income. Student Loans in the UK can not be included in Bankruptcy, but do not affect a persons credit rating because the repayments are recovered from the students future salary at source by the employer before any income is paid, similar to Income Tax and National Insurance contributions. Many students however, are struggling with debt well after their courses have finished

The level of personal debt in the UK has also risen astonishingly in recent years:

"Total UK personal debt at the end of February 2008 stood at £1,421bn. The growth rate increased to 8.9% for the previous 12 months which equates to an increase of £111bn.

Is it true in the UK you don't have to pay back your student loan if your annual income doesn't exceed 15,000GBP?

  jefferoo said:

  BCM said:

my degree left me with debts of just under £9000. I've managed to get that down to about £8000 in three years of paying the bastard off. they killing me on the interest man!

 

I feel your pain, but that ain't shit. I have to pay so much every month that the mere thought of getting health insurance is just absurd.

It's also scary to think that my ridiculous loans of nearly $80,000 are also a direct contribution to our nations current financial crisis.

That hurts so bad. Sorry man. Wht are you doing for work?

  Joyrex said:

  BCM said:

yeah, i'll look into it maybe. The Student Loans Company are really shit though. They basically haven't got a fucking clue what they're doing. it's trouble enough just getting them to acknowledge who you are.

 

From Wikipedia:

 

  Quote

In the UK Student Loan entitlements are guaranteed, and are recovered using a means-tested system from the students future income. Student Loans in the UK can not be included in Bankruptcy, but do not affect a persons credit rating because the repayments are recovered from the students future salary at source by the employer before any income is paid, similar to Income Tax and National Insurance contributions. Many students however, are struggling with debt well after their courses have finished

The level of personal debt in the UK has also risen astonishingly in recent years:

"Total UK personal debt at the end of February 2008 stood at £1,421bn. The growth rate increased to 8.9% for the previous 12 months which equates to an increase of £111bn.

 

Is it true in the UK you don't have to pay back your student loan if your annual income doesn't exceed 15,000GBP?

yeah, but £15,000 a year is fuck all

  BCM said:

  Joyrex said:

  BCM said:

yeah, i'll look into it maybe. The Student Loans Company are really shit though. They basically haven't got a fucking clue what they're doing. it's trouble enough just getting them to acknowledge who you are.

 

From Wikipedia:

 

  Quote

In the UK Student Loan entitlements are guaranteed, and are recovered using a means-tested system from the students future income. Student Loans in the UK can not be included in Bankruptcy, but do not affect a persons credit rating because the repayments are recovered from the students future salary at source by the employer before any income is paid, similar to Income Tax and National Insurance contributions. Many students however, are struggling with debt well after their courses have finished

The level of personal debt in the UK has also risen astonishingly in recent years:

"Total UK personal debt at the end of February 2008 stood at £1,421bn. The growth rate increased to 8.9% for the previous 12 months which equates to an increase of £111bn.

 

Is it true in the UK you don't have to pay back your student loan if your annual income doesn't exceed 15,000GBP?

 

yeah, but £15,000 a year is fuck all

Well, if you were here in the States, had a loan repayment of say 16-20K, and made 30K (equivalent to 15kGBP), you bet sure as shit you'd have to pay it back...

Uncle Sam's well tight.

Just to add to the conversation about the price of school here vs everywhere else: it's worth it when you take into account the lack of advancement opportunities in most companies. Before I started working, I assumed that most companies cultivate their employees and promote from within. The opposite has been the case (i've worked for one corporation or another for almost 10 years). If a higher level position opens up, they ALWAYS hire from the outside. If you want to grow and take on more responsiblities, you're either infringing on someone's turf or you're seen as flight risk since you must not like your job if you want to grow. One of the few opportunities I had for a promotion was shot down within 30 seconds simply because the manager didn't like me.

In this country, you have to either bust your ass and HOPE someone notices and HOPE they think you should get promoted (which most cases they won't since you're doing such a GREAT job in the position you're at) OR simply get a higher degree.

Not saying the U.S. has better system, it's different and i'm just dealing with the reality of the situation.

  maantecaaa!!! said:

Just to add to the conversation about the price of school here vs everywhere else: it's worth it when you take into account the lack of advancement opportunities in most companies. Before I started working, I assumed that most companies cultivate their employees and promote from within. The opposite has been the case (i've worked for one corporation or another for almost 10 years). If a higher level position opens up, they ALWAYS hire from the outside. If you want to grow and take on more responsiblities, you're either infringing on someone's turf or you're seen as flight risk since you must not like your job if you want to grow. One of the few opportunities I had for a promotion was shot down within 30 seconds simply because the manager didn't like me.

 

In this country, you have to either bust your ass and HOPE someone notices and HOPE they think you should get promoted (which most cases they won't since you're doing such a GREAT job in the position you're at) OR simply get a higher degree.

 

Not saying the U.S. has better system, it's different and i'm just dealing with the reality of the situation.

I dunno if that's necessarily true, especially in this market. It's much cheaper and more efficient to promote someone than hire a new person, unless someone is also getting fired. It's more prevalent in smaller companies I suppose. I work for a company of about 25 people and we haven't hired a new high level person in about 2 years, we just keep promoting and replacing the lowest on the totem pole.

  maantecaaa!!! said:

Just to add to the conversation about the price of school here vs everywhere else: it's worth it when you take into account the lack of advancement opportunities in most companies. Before I started working, I assumed that most companies cultivate their employees and promote from within. The opposite has been the case (i've worked for one corporation or another for almost 10 years). If a higher level position opens up, they ALWAYS hire from the outside. If you want to grow and take on more responsiblities, you're either infringing on someone's turf or you're seen as flight risk since you must not like your job if you want to grow. One of the few opportunities I had for a promotion was shot down within 30 seconds simply because the manager didn't like me.

 

In this country, you have to either bust your ass and HOPE someone notices and HOPE they think you should get promoted (which most cases they won't since you're doing such a GREAT job in the position you're at) OR simply get a higher degree.

 

Not saying the U.S. has better system, it's different and i'm just dealing with the reality of the situation.

Depends on the field - I know that depending on the skillset of the workers in that department, they may or may not be qualified for a management position, or in some cases the management position requires a certain level of degree in order to be considered.

  six said:

  maantecaaa!!! said:

Just to add to the conversation about the price of school here vs everywhere else: it's worth it when you take into account the lack of advancement opportunities in most companies. Before I started working, I assumed that most companies cultivate their employees and promote from within. The opposite has been the case (i've worked for one corporation or another for almost 10 years). If a higher level position opens up, they ALWAYS hire from the outside. If you want to grow and take on more responsiblities, you're either infringing on someone's turf or you're seen as flight risk since you must not like your job if you want to grow. One of the few opportunities I had for a promotion was shot down within 30 seconds simply because the manager didn't like me.

 

In this country, you have to either bust your ass and HOPE someone notices and HOPE they think you should get promoted (which most cases they won't since you're doing such a GREAT job in the position you're at) OR simply get a higher degree.

 

Not saying the U.S. has better system, it's different and i'm just dealing with the reality of the situation.

 

I dunno if that's necessarily true, especially in this market. It's much cheaper and more efficient to promote someone than hire a new person, unless someone is also getting fired. It's more prevalent in smaller companies I suppose. I work for a company of about 25 people and we haven't hired a new high level person in about 2 years, we just keep promoting and replacing the lowest on the totem pole.

I think he meant at large-scale corporations - there's more of a structure and process behind who they put in what position than at smaller companies as a general rule.

  ieafs said:

it used to be pretty much funded here until the 90s (hence a whole culture of people doing 3 degrees over their entire 20s or something) but now everything's user-pays. luckily though now - there's no interest unless you leave the country which makes things a whole lot more fair while being an incentive for people with qualifications to leave as soon as they get their degree.

You mean an incentive for people to stay, rather than get their degrees, and then leave, thus causing a brain-drain in NZ, right?

Freedom isn't free. There's a hefty fuckin fee.

Congratulations mate and good luck, hopefully the education will pay off with a career allowing you to easily pay back any debts.

pissflaps

  BCM said:

pissflaps

lol what hapenned there?

i'd rather buy a house than an education, lol, i'm just a bohemian