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(e)Cons of the day: loans, loans and more loans

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UK deficit will increase due to a new ruling that changes how student loans are accounted in national accounts.

Worst of all there seems to be no solution, cuts to fees seems a no go because "risks throwing the progress that government and universities have made on social mobility into reverse”, said Alistair Jarvis, chief executive of Universities UK.

This is very interesting, cutting fees will decrease social mobility. I really don't know much about the subject but it is actually a very interesting area of study and I will definitely look into it. But my first instinct is, of course, thinking this is just incredibly wrong, because debt is more prejudicial to poor students, and basically only those take on the loan.

The poor students and the ones that expect to never pay the loan back, and I believe this is probably the main social concern the government should think about. Because why is someone going to provide effort to gain more if that means they will have to repay an enormous debt, that grew by 6% a year due to interest rates.

I will probably write an extended article about this in the future but for now here is the article: https://www.ft.com/content/c6c3b1f2-01df-11e9-9d01-cd4d49afbbe3

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