It's something you generally associate with socialist envy, right? The harder you work, the more successful you are, the more they take from you, to keep you in your place.
Here's a scenario. Two students graduate from the same course at the same time. Both have student debts of £30,000.
One student goes on to do pretty well, earns £25,000 a year. That student will repay the loan in 30 years at £360 per year.
The other goes on to do very well indeed, works very hard, climbs the ladder and earns £45,000 a year. That student will repay exactly the same loan over exactly the same 30-year period at... £2160 per year. Because this student is a little smarter, a little more ambitious, a little better at the job, they will be charged a much higher interest rate than the average student earning an average graduate wage. So why bother?
Sounds like the standard socialist trap, doesn't it? Work harder, get further, demonstrate greater aptitude or intelligence and you will be branded 'elitist' and beaten back into line. Exactly the sort of thing you would expect from a really left-wing version of the Labour government.
Except... we don't have one of those. We have the allegedly Tory-led Cleggeron Coagulation.
At least I think we do. It's getting really difficult to tell.
Update: Mark Wadsworth explains why it's nowhere near as bad as it looks. He knows a lot more about money than me. I can barely get my head around a tax form.
I still think the government are insane though.