h2g2 The Hitchhiker's Guide to the Galaxy: Earth Edition

As a student at the end of the 80s early 90s I protested asgainst the introduction of loans saying that I knew where this would lead. IE Students having to pay for their education and ending up in debt upon graduation.

I wrote to my MP at my Uni address, he happened to be the Rt Hon Norman Lamont who was Treasury Secretary at the time and later Chancellor. He wrote back to me saying and I paraphrase 'Don't be ridiculous that will never happen'. I am saddened that a second year economics student should be proven more accurate than a future chancellor of our country. I am still campaigning now 15 years later for the re-introduction of student grants and for loans to be there as a means of additional support for those in needs not a requirement for every student and their family to be able to afford education at this level.

I was shocked to find out recently that FC is having to pay interest on her student loan. As when these were first introduced they were intended to be interest free. This only puts students even furhter into debt.

I know the feeling - I was in the last cohort to get (reducing year on year) grants. At least staying at home meant that I wasn't too badly off, but I'd hate to be a student now. It has come to something when the Tories have some more sensible policies in this area than the current lot.

Yup, student loans do have interest, and always have had. As I recall the idea is that the interest is the rate of inflation, so the 'real' value of the debt remains the same. Maybe they should be called no additional interest rate loans?

The grant system wouldn't have made the blindest bit of difference to me. It's nice if your parents will support you. Mine wouldn't, and they earned pleanty, so I got the non means tested part of the loan and full fees. Thank god my girlfriend's parents didn't earn so much eh?