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@moth
Not on average. The same amount of money has to be raised, so although payments would continue until retirement they'd be smaller and some people on lower wages would never pay back what they owed. Others would pay more, but the average person would pay back just what their education cost (+ inflation and admin costs).
The proposed loan system is almost the same, except it gets it over with a bit quicker: 30 years if you don't pay your way, much quicker if you're raking it in and subsidising others. Don't know if that's good or bad.