Quote:
Originally Posted by downquark1
But it gets cancelled after a certain age. American loans do not do that.
It is certainly a tax/loan hybrid. As loans go it is far too generous and as taxes go it is far too conditional.
It isn't really a bad deal - IF the tuition fees were reasonable, since you can bung any excess money into investments which normally outgrow the interest.
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It’s a better deal in Scotland where the interest is lower
However the point here isn’t really whether it’s a good deal. As policy it’s slightly dishonest, because it attempts to avoid a political shibboleth and, as we are now seeing, has created a loophole for those who can get the easy money and who have an easy route to avoid repaying it.