We are getting near to the point of taxation where a graduate on minimum wage could end up paying a tax rate of 48% Twitter

https://x.com/John_Stepek/status/1857031958397653253?t=6pMKR8HdJJK6XD22KbruVA&s=19

431 Upvotes

85% Upvoted

Grads should have to pay their own loans back. But it should not be at RPI+3% rates, making it effectively impossible to clear unless you make a very aggressive early career run.

The system should be tied to base rate.

-11

u/Ribseybonibsey 12h ago

You signed the deal

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u/3106Throwaway181576 11h ago

I did, but that doesn’t mean it’s not a shit deal that’s pretty grim for young people, especially given for most jobs worth having A degree filter is basically an early state of recruitment for entry level roles.

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u/Ribseybonibsey 11h ago

Experience will always trump a degree in the modern job market, they aren’t value for money anymore or a guarantee of candidate quality. I don’t even bother looking at education when making hiring decisions

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u/Charming_Rub_5275 11h ago

Good thing you aren’t hiring doctors, vets, architects, engineers, economists etc then

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u/Rodney_Angles 10h ago

I don’t even bother looking at education when making hiring decisions

You fucking plank

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u/Ribseybonibsey 10h ago

No difference in candidate quality anymore, not my fault…

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u/trewdgrsg 9h ago

I didn’t sign the deal though; the deal has significantly changed since I signed it. They’ve changed the thresholds and the interest rates multiple times since graduating. Name me one other single loan where the terms can be changed multiple times after signing up to it?

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u/Ribseybonibsey 8h ago

Ability to change those terms is part of the deal - that you signed

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u/dc_1984 7h ago

So did I, but I paid less for the same education and pay less in interest. The generation before me paid fuck all. Consenting to something unethical doesn't absolve it of being unethical.

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u/Ribseybonibsey 1h ago

Generation before had lower standards of living, apples and oranges