A cynic pointed out to me that the government’s recent introduction of full-cost fees (again backed by government supported loans) was less a tax on students and more the creation of a guaranteed tranche of debt for the banks to distribute, so easing the ‘credit crunch’.
---- Well, it's both and more. It's another source of guaranteed profits for the banks & it's also a guarantee of labor discipline on the part of an indebted, desperate professional/managerial layer.
Joanna