CharlotteAlice is 24! New Year. Fresh Start!
It’s a very strange system here in the UK:
1) You borrow your money to go to uni, then you don’t pay anything back until you’re earning a certain amount.
2) Once you’re earning enough money a percentage of anything you earn OVER the starting point is taken out of your wage, a bit like tax.
3) The Student Loans people charge you interest the whole time this is happening.
4) I get a statement saying that my PAYE contributions for the last financial year are LESS than the interest charged.
If I hadn’t have started paying it back my loan would be MORE than when I started. What is the point? At this rate I’m never going to pay this thing back (because I’m certainly not throwing my money after something that gets written off automatically after 25 years anyway) and the government aren’t going to get their money back either.
I don’t know who decided this was a sensible financial thing for the country buy they sure didn’t think it through.
I am going to leave this goal on here because who knows? Maybe one day I’ll have a higher earning job that will mean it does get paid off. But then again maybe not…