Monzo, a U.K. challenger bank, raises £85M Series E

Re:Monzo, a U.K. challenger bank, raises £85M Series E by giobox on Wednesday October 31, 2018 @03:59PM (#18348793)

> We don't have this "you're in debt" culture that I think you create when you start school in the US.

I think an entire generation of students in England and Wales who now are paying up to £9000 per year of study would likely disagree with this.

While this is still less than many US examples, it's still a ton of debt for the average UK student who is unlucky enough to have an English or Welsh postcode (Scotland continues to offer free higher education). Especially so when you consider average graduate salaries in the UK.

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Re:Monzo, a U.K. challenger bank, raises £85M Series E by jaziek on Wednesday October 31, 2018 @05:30PM (#18349439)

The big difference here is that student loan repayments are based entirely on your future earnings. It is, for all intents and purposes, a graduate tax. The majority of people will not pay off their loan before it is forgiven, and many will never pay anything at all.

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Re:Monzo, a U.K. challenger bank, raises £85M Series E by M2Ys4U on Thursday November 01, 2018 @08:32AM (#18353282)

Student loans in the UK aren't real debt, though. It's more of a defined-contribution graduate tax with repayments contingent on earnings.

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Re:Monzo, a U.K. challenger bank, raises £85M Series E by dbbk on Thursday November 01, 2018 @10:55AM (#18354440)

It's not debt.

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