Student loans
Back in the early 1990s in Denmark, students could easily get cheap loans to finance their studies. The result was that a generation of students ended up with massive debts that they couldn’t realistically pay back.
So a few years before I started university, they introduced much better grants and restricted the ability to get student loans in order to ensure that nobody would be saddled with debt they couldn’t pay off.
England now seems to be going in the opposite direction.
Given that there is a limit to how much graduates can be forced to pay back every year, and given that the plan at the moment is to write off any debt left after 30 years, for most people there will be no point in restricting their borrowings.
That is, they won’t go to a cheap university, but will instead apply to the most expensive ones and borrow as much money as they possibly can to fuel their consumption.
Poor buggers if future governments decide to scrap the repayment limit or the 30-year write-off point!