More dodgy accounting coming home to roost
https://www.theguardian.com/uk-news/2018/dec/17/student-loan-hole-public-finances-ons-accounts
Just like PFI and other spiv ideas before it, student loans have been exposed as govenment accounting theatre.
Basically despite recognising that a large percentage of graduates will never pay back the excessive loans required to cover enormous fees the government never counted this as debt. Of course this is nonsense because just like PFI the shortfall will be made up by the government.
This also lends more credence to Labour's position that universities can be funded effectively through central government rather than by higher fees , since the figures the plan was compared against were government numbers that were crooked.
It might also good news for the Scottish Government, who have abolished fees, since there may be Barnett consequentials as this is now counted essentially as spending by the UK government on English universities.