This. Structuring the grad tax into a form of debt is quite silly imo. It's like the government are doling out bonds with the coupons being set at 9% (over £21k), and interest rates being variable (albeit low). A straight tax would have been much easier overall.(Original post by nexttime)
Don't know why the government didn't just go for a 8% grad tax*, would have been a lot simpler, allayed fears by some of being in 'debt', and would've saved so much administrative work in terms of calculating debts, unis offering extra grants, etc.
*Ok, I do know why. Its because Dave's mates' children would have been hit hard by that, which is just unacceptable.
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