here are some of my thoughts on the following .... (I also posted this on CPs FB page) Sounds great in theory (and really nice marketing design btw). What about the following points? Are they relevant, possible or true? 1. The loans will be begin to be repaid at a lower income level than currently is the case. 2. The loans will attract an interest rate. 3. There can be a big difference between expected incomes between professions. For example, teachers and nurses often earn a lot less than say doctors and lawyers. 4. Some professions, like teachers and nurses, generally can not begin their own businesses or companies, for example doctors and lawyers in private practice, and as such are unable to set their own incomes or rates for service. However, it should also be remembered that the loan required for various degrees will be different. For example a medical degree will cost more than a nursing degree and as such a doctor will end up with a higher debt level than a nurse, for example. (But how much these degrees will cost under de-regulation will be interesting to see) 5. BUT, paying off a loan, with interest, beginning at a lower income level, when on a lower income (which is likely to be fixed wages) will, over the time period of the loan, end up costing the lower income professionals substantially more than the higher income professional, who will be able to pay off their loan within a shorter period of time. And ofcourse, anyone who can afford to pay for their university fees up front, will actually end up getting their degree for less than either of the above examples. Thoughts?
Posted on: Tue, 20 May 2014 03:11:35 +0000
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