I went to uni in 2001, and I knew people who’s parents angled to get them the largest loan possible, to then stick it into a savings account making more interest. Of course, all of these people were rich enough to put their kids through uni with no loan, instead they had an opportunity to get a bit richer.
My student loan is down to about £5k now, mainly because I wasn’t earning enough to hit the threshold for paying it off for quite a few years. Fortunately I wasn’t ten years younger or I’d have had to had pay three times higher fees and had a correspondingly bigger debt.
Oh, and in the UK your student loan is written off after thirty years, and they’ll never send the bailiffs round.
