Student loan changes and issues facing students
Dear The Rt Hon Theresa May MP and The Rt Hon Philip Hammond MP:
The past few months have been chaotic for British politics and I know with recent events you are most likely too busy to address this letter or issues herein anytime soon, especially since parliament has broken for summer. I am writing to you to in regards to the proposed changes to the student loans agreement and several issues that face thousands of students and graduates.
I was at first not aware of the changes proposed by the former chancellor, however like thousands of students, educators and MPs it took me a while to understand what the effects would be and once I knew I was honestly appalled and terrified. The concept of changing such an agreement after the fact is immoral, despite the fact that it was stated in the Terms of conditions that it could change, it was not the change its self that irritated me.
The thing that outraged and worried me was the way it disproportionately affects graduates. The government’s own equality impact assessment stated: “in terms of lifetime earnings our analysis shows that the greatest financial impact will be concentrated on those with and around median lifetime earnings between £20,000-£35,000”. The fiscal impact is hard to dictate but from what I gather, for those who earn between 21-36 thousand will have to pay an extra £6100 over the loan's life. For those who earn over 40 thousand will have to pay an extra £400 and for those who earn over 50 thousand will have to pay an extra £200. These impacts are worse felt by women and minority graduates.
I always wanted to go to university from a very young age. The reason for this is that unlike many of my primary school friends I grew up watching my parents work long and hard and have little to show for it, I grew watching my parents be terrified about the car breaking or a bank holiday messing up a direct debit since they knew they would never pay off a back payment.
This drive was buried into me more and more as I grew, as my mother was placed on incapacity and I watched my father work shy of 50 hours a week and still have to borrow money from my retired grandparents to feed our family. My family now sits on the edge of poverty with both my parents out of work, my mother on incapacity for an illness she’ll eventually die from and my dad now on medical retirement facing the idea that after working all their lives they may still become homeless.
My parents and grandparents told me I won’t struggle like they did if I go to university and get a good job, a career. However, I have previously calculated that under current rates my undergraduate loan and planned postgraduate degree debt would total approximately £54,399. If I were to start a £23,000 per annum job with this debt plus the average rent, costs of living and running a car per year I would have approximately £19 a week leeway. Since it is not likely my yearly pay would increase significantly for several years I am faced with a situation where I’m living in constant uncertainty.
I am faced with the same situation that my parents faced, living wage packet to wage packet, I am faced with the same fear of the car breaking or my rent increasing of living on the edge of poverty, without the potential changes.
The reason I mention this is that students go to university for job security for a better life but now in this country at this time you are no more financially secure getting a degree required job than working in a Tesco. Do you believe that it is fair for people after 3,4 or 5 years of tireless academic study to become a skilled educated worker only to be nearly as fiscally uncertain as those who don’t have jobs?
For me a Forensic Science student this is troubling. A typical forensic scientist will earn £20,000 to £35,000 over their career some do increase to £45,000 after a few decades. However, I will most likely have to pay the extra £6100, or at least most of it as by the time my income increases above the 35 thousand I will be approaching the cut-off date.
I find myself having to re-evaluate my life choices, should I actually become a forensic scientist or should I continue my studies and become a researcher or a lecture more lucrative career areas my degree can take me, however, all requiring me to take on masses more debt, or should I change course before it’s too late, should I switch to neurology, virology or Politics all areas in which I have interests and more career potential and if I switch now I would have less debt.
Some would say that it is tragic that I am being forced to change my life in such a way. I, however, would say I am lucky since my Forensic Science BSc is not a specific degree and allows me to take many paths with a postgraduate degree. What about those who have specialist degrees that are stuck on a degree specialised for a certain career, for example, those studying to become primary school teachers with an income of around £27,000 for most or secondary school teachers with an income for most topping out around £35,000 with experience. What should people who are good at roles that are skilled yet not high earning?
We are taught that university is the path to a secure high paying career, it was true for my grandparents and parents generations but not for mine why? Well, I don’t know the answer to that some would say that it was the austerity cuts, and for my future career path yes that may be true since cuts to the police mean less money they have to spend on forensic services.
Regardless of what the causes are, what do you plan to Do about it? I don’t even ask for myself since generally, it’s a bad thing if the need for Criminalists grows in demand, I ask because at the moment the UK government is promoting a lethargic lifestyle.
At the moment you are better off if you do not work, asking price for starter homes is scandalous meaning graduates are forced to rent. Private rents are through the roof at around £800 to £900 a month, even higher in some areas, and as I said earlier many of us will have barely enough income to live let alone have disposable income.
Some would argue that it is career specific and yes it is but not every graduate can be a barrister, surgeon, CEO, banker or politician and who is anyone to say this person’s job is less crucial to society than anyone else’s. Educators, Criminalists, Nurses and countless other careers all are vital to society our society so why do many people in these roles have to fear to lose their job or home?
In this letter, I am not saying that Criminalists, teachers or whatever don’t earn enough, and I’m not saying that not going through with the changes or even lowering interest rates would solve the financial issues of many graduates. What I am saying or trying to say is that these issues shouldn’t exist, but they do and more than that they are getting worse. people who only a 15 years ago were thought to be free from these issues like teachers or nurses, store managers are now facing increasing rents and living costs with no increase in wages.
Many people would view this letter as me blaming my problems and future problems on society, the thing is that these are society’s problems millions of people live with these issues currently only now has it become apparent that for the youth, not even University education and skilled employment can save you from them.
This will have a resonating effect on the youth, this plants the seeds of an Idea that education may not be worth it. We complain today that there is a growing lethargy among people not bothering to work and inspiring their children to do the same, how long before people begin to see education in the same way?
Franklin. D Roosevelt once said “Democracy cannot succeed unless those who express their choice are prepared to choose wisely. The real safeguard of democracy, therefore, is education.” How paradoxical and ironic it is then that the safeguard for democracy is education but the safeguard of education is ignorance. Ignorance of how education is worth less with each generation.
Sincerely,
Christopher Wills
A student who fears for the future.
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