Caving Memes

[carpet]

I have a spreadsheet to explain student loans to my kids in detail. All three have about £90k of debt. We have discussions about whether I should just pay it off. I am holding out for the NHS clearing a couple of them and the last fled abroad a month after graduating and now I get letters with menaces. A techie detail for all you budding expats is that you can choose to pay a flat rate based on about £55k, even when being paid as a banker in Basel.

I can heartily recommend housewife as a career choice. Let someone else put chops on table.

My student loan is i think low enough that it makes financial sense to pay it off ASAP, partly thanks to me being welsh and getting a slightly nicer deal as a result, though I haven't actually sat down and done the maths yet. I probably should since i finish uni this week. Unfortunately, running off to Basel isn't massively practical for me 😅

 

[Fjell]

My student loan is i think low enough that it makes financial sense to pay it off ASAP, partly thanks to me being welsh and getting a slightly nicer deal as a result, though I haven't actually sat down and done the maths yet. I probably should since i finish uni this week. Unfortunately, running off to Basel isn't massively practical for me 😅

The maths is that the lower the loan the more likely it is you have to pay all of it back. To pay back £90k over 30 years you would have to start on about £50k and end up more like £150k in todays money. Working full time.

Hence the discussion. If they owed £30-40k I would pay it off to get rid of the annoyance.

It is in fact the most progressive tax in the UK. Should def cut NI before cutting student loan payments.

 

[nearlywhite]

It is in fact the most progressive tax in the UK.

[citation needed]

You'd have thought property taxes affecting generational wealth are far more progressive than a tax that actively makes people from lower income backgrounds who succeed pay more than people who have lower earning potential but large amounts of inherited wealth.

 

[aricooperdavis]

Should def cut NI before cutting student loan payments.

I certainly agree with this bit, scrap it all together and increase income tax to account for the revenue.

 

[JoshW]

I certainly agree with this bit, scrap it all together and increase income tax to account for the revenue.

*increase income tax for the wealthiest* to account for the revenue

 

[Inglesport]

 

[Speleofish]

If you're a hospital doctor, you're likely to hit the sort of salaries Fjell mentions - ie you'll end up paying it all off. Given the current interest rates, this is akin to having a rather expensive second mortgage. However, if you try to pay it off as a lump sum, you either need generous parents/grandparents or you may have to sacrifice any chance of raising a deposit for a house - at least for several years.

 

[IanWalker]

 

[jasonbirder]

A bit too old to have made many Memes so hope this works!

 

[Fjell]

If you're a hospital doctor, you're likely to hit the sort of salaries Fjell mentions - ie you'll end up paying it all off. Given the current interest rates, this is akin to having a rather expensive second mortgage. However, if you try to pay it off as a lump sum, you either need generous parents/grandparents or you may have to sacrifice any chance of raising a deposit for a house - at least for several years.

Hence the discussion with my FY1 youth element. My current take is to not pay it off and see what happens over the next few years. I am of the opinion this is going to an election issue within the next 10 years as the numbers of people mount up and they reach adulthood and vote (ie over 25).

People earning less than £30k need not engage with this discussion. You got it for free. Someone else will pay.

 

[Badlad]

Please take the hint about topic. Thank you.

 

[Speleofish]

I get the point about going off topic. However, it's an important subject for many of us (parents or recent graduate cavers) so I think it's pertinent to discuss it. If moderators want to open a separate thread, that's up to them and I'd be happy to continue it there.

 

[Badlad]

This is a thread on memes. Isn't that obvious. Please start another thread yourself to talk about other issues that concern you. Thank you

 

[Fjell]

 

[Loki]

View attachment 19104

Marble steps? Again?

 

[Fjell]

This one is off the official Labour X feed. My wife is popping. We’ll see how long it stays up. My objection is that it is pathetically inadequate in addition to being haplessly sexist.

 

[Fjell]

Marble steps? Again?

It’s a gnomic meme.

 

[paul]

Moderator comment: Caving meme? Please keep on topic.

 

[AlexR]

Went to the alpine museum (Munich) and saw gear in better condition than mine

 

[Fjell]

Moderator comment: Caving meme? Please keep on topic.

It’s meant to represent BCA access efforts. I was going to make a little meeting sign but that seemed too obvious. I’ll try harder.