The Guardian view on collapsing plans to sell off student debt

The idea that there was money to be made by selling the swollen loan book was always a delusion. It was the great test of "grown-up" politics. The moment, a blushing Nick Clegg said, to ditch the "dreams" of protest politics and "deal with the way that the world is". How remarkable, then, that four years on from the hike in college fees, a select committee can report that we are "approaching a tipping point for the financial viability of the student loans system". The prospects for higher education funding remain entirely uncertain, clouded by conjuring tricks that no longer convince. More...