US Household Debt Surpasses 2008 High

Re:US Household Debt Surpasses 2008 High by maccard on Thursday May 18, 2017 @04:52AM (#14365754)

And the UK (in principle). Although it's quite savage, as the repayments are tied to RPI if you took out your loan post 2012. You pay 9% of your income over 21k-ish until the debt is paid off. Calculator here to show just how grossly unfair this system is in practice [0].

[0] http://www.moneysavingexpert.com/students/student-finance-ca...

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Re:US Household Debt Surpasses 2008 High by simonbarker87 on Thursday May 18, 2017 @06:19AM (#14366063)

Out of interest, what makes this system unfair? Or are you just talking about the year demarcations?

I've always quite liked that my student loan repayment is tied to my salary as it's one less bill to worry about if/when things go badly. It means that when we were getting our business off the ground and didn't take salary out, I at least didn't have to worry about the student loan.

Don't get me wrong, I'm looking forward to the day I'm not having to pay it but at the same time, I think the changes in university fees would be better received if they simply called it a graduate tax that expires after 20 years.

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