Richard Meadows responds

Earlier today I posted about student loans and why interest free student loans need to go. The author of the source article has emailed a response.

For whatever reason my comments are not being published on the blog – I would be surprise if you censored my mild response so perhaps there’s some glitch. [WO: It was a glitch, comments are now enabled]

Re:student loans. Your post is a bit of a misfire – we seem to hold similar views.

I have written extensively about the student loan scheme and concluded that there has to be some kind of interest rate reintroduced.

I urge you to read this previous article which I linked to in the one you have attacked:

Here’s a sample quote:

“Students have now been sucking on the election lolly for more than six years. One thing’s for sure – it will be a bitter pill to swallow.”

I myself have a reasonable sized student loan and would be perfectly happy to pay interest on it.?

People will always act in their own best interests- it’s human nature.

It’s the system itself that’s broken. Benje Patterson said it best:

“I would desperately want some sort of mechanism to stop me exploiting it – but it’s not there, so I’ll exploit it anyway because I don’t want to see other people making a buck that I can’t.”

If this article raises more discussion around the distorted incentives of the scheme then that can only be a good thing.

As a regular reader I know you often publish emails you have received to the blog, and of course you are welcome to do so.

Otherwise flick me an email back to discuss further.

PS thanks for the new nick name. I will wear it with pride!


Richard “scuzzbag” Meadows