How is the Average American going to pay off their wonderful student loans in proximity of 50,000 big ones each? By a nice, normal job?
little bit more subtle down here, as we don't have student loans as such.
"World's greatest treasurer" (his words) suggested that University graduates dshould be taxed an additional 1% for the rest of their lives.
Later, he relented, and allowed a different scheme, whereby you paid off as a percentage of gross income, it didn't kick in until a "threshold income" was reached, and the outstanding balance increased by 8% per annum, as an "adminstration fee".
I quickly worked out that it was an extra 1% forever, and paid it down.
HECS...it's not just an acronym.