Tell me how this is different from the rest of the student loan industry. My student loan is until I've paid it all back, or I reach 65, or I die. It adds a top up to my income tax, taking 9% of everything over £17kpa earnt.
It doesn't care that I've got a really good job, or that it's relevant to the courses I took. Or that I even finished my degree. It's just the same in that respect.
Holberton takes a higher percentage, but earlier on and only for three years. When you're earning less. You might thing 17% is shitty but coming from low or no income, you're probably not going to notice it. Three years will fly by and by the fourth, you get a massive pay jump.
> Tell me how this is different from the rest of the student loan industry. My student loan is until I've paid it all back, or I reach 65, or I die. It adds a top up to my income tax, taking 9% of everything over £17kpa earnt.
Student loan industry in the UK. In the US and most other places, income-based repayment is not a thing, the payments are due no matter how much or little you earn.
At least for now the US does have several income based repayment plans. The best one for most circumstances is PAYE (pay as you earn). It requires payments of 10% of disposable income, i.e. dollars earned after 150% of the poverty line, and the debt is discharged after 20 years of payments or 10 years while working for certain government or non-profit entities.
This program is partly the result of regulatory rule making and so could be sharply curtailed should the President or his underlings wish to do so.
I don't think that's accurate. When I graduated I got a zillion papers in the mail for applying for various hardship deferments and payment options. And then there's this https://obamawhitehouse.archives.gov/blog/2012/06/07/income-... which is explicitly income-based.
It doesn't care that I've got a really good job, or that it's relevant to the courses I took. Or that I even finished my degree. It's just the same in that respect.
Holberton takes a higher percentage, but earlier on and only for three years. When you're earning less. You might thing 17% is shitty but coming from low or no income, you're probably not going to notice it. Three years will fly by and by the fourth, you get a massive pay jump.
I prefer Holberton's take to my up-to-48y lien.