Student finance - A government loanshark
The new tuition fees starting 2012 are painful, to say the least, but it's the terms of the Student finance loan that are the most concerning.
Interest shall be charged at the rate of inflation + 3% starting three years after the course began. Many students will still be studying.
Should students wish to rid themselves of their financial burden and repay their loan early, there have been suggestions from the government that they would face a PENALTY for doing so - if possible at all.
What many prospective students haven't realised yet is that, unless doing extremely well or poorly for themselves, they will pay, in effect, a 9% extra tax for 30 years - the majority of their working lives.
If we don't act quickly, next year students will sign themselves into a punishing tax agreement to last for 30 years, all in the name of balancing a deficit they couldn't possibly have voted for.
Please, petition the government to stop this madness before the next years of students realize just what kind of a mess they're trapped in.