Interesting articule here, lot's of good points. The Institute for Fiscal Studies says that for 54.2% of students this will equate to 9% a year being taken from earnings over £21,000 for 30 years after graduate. It is really a form of graduate tax. It's fair in the sense that those working class people on low incomes who didn't go to University don't have to contribute to those who benefit from it.
http://www.guardian.co.uk/commentisfree/2010/nov/07/scrap-tuition-fees-we-have
I did a thread where the calculations came out at 3% per year with a graduate tax (although I was suggesting adding this to employer's NI contributions - same numbers apply).
The key difference is that there is no interest with a graduate tax. Just as NI is PAYG, so is a graduate tax - this year's tax pays for this year's students.
You can't dress this up as fair. It's not. It can be done much cheaper and in a way that actively encourages those from poorer backgrounds to go to university whilst actively discouraging those who are destined to earn a fortune regardless of qualifications.
It's just not defensible that a graduate going into the City will be able to pay off their entire loan with their first year's bonus, when graduates in the public sector will be paying out 9% of their incomes for most of their working lives.
The majority of graduates in the UK are employed by the public sector (26% vs 6%, and the public sector is about 30% of jobs). Their employer has paid for their training - why should they have to pay it back? They're already accepting significantly lower wages than they could get in the private sector, with few of the perks that used to make that worthwhile. This just makes it even harder for the public sector to recruit and retain talent because it will make it virtually impossible for many people to stay in the public sector - student loan repayment of 9%, pay freezes, pension contributions increasing.
Doctors will manage. Police will manage. They're both obscenely highly paid in public sector terms. Nurses won't manage (it is now compulsory for nurses to have a degree). Teachers won't manage. Social workers won't manage. Researchers won't manage. Administrators won't manage.
I don't know if you believe half the shit you spout, but if you've got an ounce of humanity left in you, do some actual research into what this will do to us as an economy. Look at Cameron's trade delegation to China, look at the US call centres competing on price with Indian call centres, the pay deflation for the bottom 90% in the West whilst workers in ASEAN are receiving record pay rises and rudimentary welfare states, and and see if you can work out where we're headed.