Call me an idealogue.. but regardless of the favourable terms of repayment of the loan system, we're just going in totally the wrong direction by starting to charge this kind of money for higher education... in a way it can be a means of regulating the quality of courses on offer - by encouraging people to think twice about applying for courses with no job prospects 'for the sake of it'... but it's on par with the recent privatisation fetish when it comes to changing the way universities are funded and in doing so making education more profit-oriented (this could be in part be owed to the fact that it is now a social 'norm' to go to uni, and it has grown into a market).
And it comes back to the age-old argument of 'generational selfishness'. *sound of tuppence being thrown in*