Graduates will repay their fees with ever cheaper money over many years as inflation devalues it, and their pay increases to meet the ever rising costs of living.
The extra tax they eventually pay from high earnings will be no higher than that paid by others who have reached the same high earnings without the advantages of a university education. They will also have been paying tax for years before the graduates start.
The furniture we bought to set up home in 1950; dining suite £50 + 2 fireside chairs £20. If we could have paid that off bit by bit, interest free?, with cheap money as our earnings increased to meet inflation, that would have been wonderful.
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