I agree with some of your points, and disagree on others. There are a lot of courses out there that may not be practical for those who are just looking for a route to make money and a career, but I think the experience of University is very valuable, and even though I no longer make much use of what I learnt on the courses, I wouldn't change it, as the people I met from different races, regions and nations completely changed my world view.
I think the size of the loan is deceptive, because unless people actually get to a point where they are earning a good wage, they will never actually pay it back, and it still gets written off when people reach the age of 40.
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