I was reading a story on the Guardian last night by Will Hutton, Principal of Hertford College in Oxfordshire.
He has quite grave concerns about students entering the workforce with large loans - some loans are around the $80,000 mark and that's for a standard degree. It mirrors what's happening here.
Many of our young graduates shoulder huge loans that they will pay off for some years, or head off overseas to pay off.
I had a student loan, many moons ago... and I went through the system when it was interest-bearing too. I was studying journalism and working in a bank, and pouring pints on Friday nights... but I don't think the cost-of-living was as high as it is now. It was a struggle then, but I think it's tougher now, much tougher.
Anyway Will Hutton's piece made me re-think the issue of student debt and what we load on to the shoulders of the next generation. He says we need to look at the long-term social implications of large student debt. He says, for example, It's putting people off marriage for many years, until they're mid or late 30s and then the birthrate falls too.