Here is a fun fact on the topic of student loans- when they passed that it was anticipated that 30-40% of students would NEVER pay back the loans (em's the official government reckoning). The student loans idea was 50% f u and 50% budget cuts and 100% kick the can down the road 20-30 years to when the loans are forgiven and there is a hole in the budget.
It more has to do with accounting magic than actually caring about people making smart decisions about their education.
I already know one new archaeology graduate who has started a business, pays himself under the 25k but puts things like petrol, his car, etc. etc. under his business. If his business/himself does well then he can call his flat an office, his dinners business meetings, etc. He will never make 25k in salary but he will live very nice (assuming his "business" does well). I bet you will see lots of one person companies. Probably act like banks and give themselves bonuses, dividends or whatever accounting trick they need to avoid going over the 25k and paying back student loans.
And then there will be everyone else who will be stuck at under 25k because it will cost them a fortune to earn more.
It more has to do with accounting magic than actually caring about people making smart decisions about their education.
I already know one new archaeology graduate who has started a business, pays himself under the 25k but puts things like petrol, his car, etc. etc. under his business. If his business/himself does well then he can call his flat an office, his dinners business meetings, etc. He will never make 25k in salary but he will live very nice (assuming his "business" does well). I bet you will see lots of one person companies. Probably act like banks and give themselves bonuses, dividends or whatever accounting trick they need to avoid going over the 25k and paying back student loans.
And then there will be everyone else who will be stuck at under 25k because it will cost them a fortune to earn more.