I Will Deal With It

I'm playing Devil's advocate here, but would the same media that were delighting in mocking Corbyn even have bothered to report any denials he might have made?

He could have denied it on twitter in response to all the young voters who were calling him a legend for wiping out the debts ?

From your link Ana
He told NME magazine in June he wanted to look at ways to reduce, ameliorate, lengthen the repayment period or "some other means of reducing that debt burden".

I think I must be missing something as well Mamacaz

Storm in a media teacup if you ask me.

We all know it couldn't be done ( wiping out all debt.)
Luckily for him, he won't be called upon to do it.

Luckily for him, he didn't promise too anyway!

www.theguardian.com/business/economics-blog/2017/feb/18/post-brexit-uk-economy-demands-a-new-type-of-robin-hood-tax

He's found the magic money tree, though.
Sorry, forgot this thread wasn't about Corbyn.

I think I heard somewhere that some students were so excited about Corbyn's promise that they forgot they had sent off a postal vote and voted again in person.
Some boasted about it on FB apparently.

I have to say I think the impression created was that student debt would be written off. Then presumably someone said that we can't afford that and so a new strategy was suggested. He's not the only one to get caught by the media this way and won't be the last.

So he is no different to many other MP's, not the blessed Jeremy , he who was bringing a kinder politics to the country, he who is praised as honest sbove all , is just another leader who wants to be PM at any price, what I have said for ages .

Blimey, Annie, you really detest him, don't you?

It's just as well he's demonstrated that he's as flakey as the next politician though isn't it? Wonder what his reception will be with the yoof when he bowls up at the next music festival? Possibly not so much adoration now that he's revealed he has feet of clay.

No, I do not detest him minesaprosecca, I voted for him in the first leadership election. I was really upset to discover he was a liar, that he betrayed the party and all I thought was genuine was false, so detest ? No, I just dislike dishonesty and dishonest people.

So why can't it be written off? Because we can't afford it? Well the huge bribe to the DUP was affordable. And arguably writing it off would have a substantial saving involved as well, no admin fees, no paying debt collection agencies, no needing to keep track of people . It would also mean that graduates would have more money in their pockets and therefore could pay more in tax and afford bigger mortgages, so benefitting the economy.
Of course it would not please those who still think that a university education is a privilege and not a right, so would lose votes and therefore won't happen. But this idea that it isn't possible is ridiculous of course it is. Debts are written off every day when people go bankrupt, although interestingly the student loan can't be written off like that.

What a lot of outrage at a non-promise and non-event.

inews.co.uk/essentials/news/politics/ended-parliamentary-year-top-bottom-class/

Corbyn won over the year as whole, anyway.
Sorry, forgot again, this thread isn't about Corbyn.

voxpoliticalonline.com/2017/07/23/next-time-someone-tells-you-jeremy-corbyn-promised-to-wipe-out-student-debt-show-them-this/

The video, to show you he did not promise to wipe out student debt, for those who think this thread is really about Corbyn's promise to wipe out student debt.
Annie says it isn't.

As others have said "dealing with it" can include a number of different options. I would imagine one of the first issues to be considered by a Labour government would be the interest paid on loans, which was originally set at, I believe, 1.25%.

The Telegraph reported in April 2017:

"Students are facing a 33pc rise in the interest rates they accrue on their loans as a result of rising inflation......

" ..........Under rules introduced in 2012, annual interest of RPI plus 3pc is charged on student loans as they are built up while studying.

".... Based on inflation in March last year, interest is currently accruing at up to 4.6pc, meaning September’s rise will be equivalent to a 33pc increase.

"The latest increase to the interest rate means someone with a £40,000 debt would have to be paid just over £48,000 a year before they earned enough to pay off the loan rather than simply service the interest. Under the current rate, the same person would have had to earn £43,000."

In my view, the above demonstrates how ridiculously unrealistic it is to expect the majority of students to be able to pay off their substantial debts. This seems to be borne out by an article in the Financial Times in July 2016:

"About 70 per cent of students who left university last year are expected never to finish repaying their loans, according to modelling carried out by the Institute for Fiscal Studies.......

"This is in stark contrast to earlier generations of students. Of those who graduated in 2002, 44 per cent had already paid off their loan within 13 years, according to new data from the Student Loans Company.....

"This means that — for the 70 per cent of new graduates not expected to finish repaying — the loan repayments act more like an additional tax on their income above £21,000, which will last until they reach their early 50s....." ....

It must surely be a drain on morale and aspiration to be saddled with such huge debts. I would suggest that such a low degree of recovery indicates not only that the system is not working but that it is damaging the economic wellbeing and social cohesion of the country as a whole. I imagine that Corbyn has similar thoughts and saying he would deal with it may can be interpreted as he and his colleagues reaching a radical solution to this problem which, along with reducing the interest payable, might also mean reducing debts to a more manageable level, rather than scrapping them all together.

In any event, no undertaking was given to cancel debts and if some students who voted Labour did so purely on the issue of fees/loans and now feel they were misled, then presumably they won't vote Labour at the next election. It's up to them but I am cautiously optimistic that at least some of them will reflect on
what has happened since 2010 in relation to the education, health and justice systems and in relation to the housing crisis.

Does student debt affect your credit rating?

I am sure eighteen year olds about to enter university this year are really concerned about the housing crisis.

Well no matter now, it's just a repeat of the train without an empty seat tale

Good question petra my DD was questioned about whether she had student debt in a mortgage application but they didn't ask how much etc.

Having said that she has yet to earn enough to make any repayments.

Yes it does petra. It is taken into account for mortgage purposes. A double whammy.

"I will deal with the overgrown garden" is what I said when we bought this home. 7 years on it still needs work but I am getting there but unexpected issues, beyond my control, have delayed my original timescale. I will get there eventually and lots of the garden is what I planned.

No, it is not taken into account for a mortgage as almost every student has the debt. Also, until you reach a certain level of salary, the repayments are quite small. Not all graduates are in what were traditionally termed 'graduate' employment so do not earn the higher amount. My youngest will pay off the debt in about three years and does not expect any of it back no matter who is in power. The luck of the draw as they say. Nightowl, perhaps it depends on the mortgage company. My youngest is buying her own place and was told they don't take any notice of it.

Trisher, I agree with much of what you say. A graduate tax helps repay the taxpayer some of the money and is in line with the better off paying more. The country also benefits from their higher education. The key argument here is how you word things if a public figure like JC where every statement is taken at face value, interpreted by others and examined under microscope from every angle. That's true of all public figures who make a 'throw away' remark under pressure. It never fails to amaze me that politicians still fall into the trap.

Well done so far, Penstemmon. I keep telling myself I will deal with the mess in the shed every time I put something just inside the door as I can't get any further in.
I then shut the door and forget about it until the next time I open it.....

My 17 year old granddaughter is very aware of the housing crisis as is her 24 year old sister, who lives in Manchester. The 24 year old was going to take a year off when she was 18 and didn't because that was when the nice Tories said they would put fees up to £9,000 a year. She managed to get in on £3000. Quite sensible of her. She also worked all the way through her degree so she had enough to pay her rent.
I am sure there are lots more sensible, aware students who care about the housing crisis. They shouldn't have to when they are students, but being given a debt of over £50,000 to start your working life with doesn't allow for carefree student days any more.