Thursday, December 09, 2010

Student loans are not "real" debt

Yesterday, the BBC's Nick Robinson interviewed Nick Clegg about tuition fees and during the grilling he raised the point that the real issue for students is debt and the fear such a prospect brings.

May I take the opportunity to be the first to shout the word "bullshit" on the premise of Robinson's question?

Look, debt is scary, yes, but its only real debt that's scary. Thats the kind of debt that is owed and is expected to be paid back whether you're employed or not. A student loan is not like that because, in theory, you could never actually pay a penny of it back and there will be no knock on the door by bailiffs wanting your telly and it will be written off after 30 years.

Incidentally, Labour's latest decision to support a Graduate Tax is bloody idiotic too. As I said before,
It will be the bag carrier greasy pole types, the policy wonks, the NUS presidents and the assortment of other "never done a proper job" politicos on crap money with great quality degrees who'll be subsidised by the graduates from crappy ex-polys with a Desmond, who then work their balls off to earn as much as they can in an area with no relevance to their education.
I'll be glad when this vote is over.

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