We had this system in Sweden for a long time, my parents were able to study with these terms in the 90s. Basically, you could choose between multiple payment pl

We had this system in Sweden for a long time, my parents were able to study with these terms in the 90s. Basically, you could choose between multiple payment plans, one of them being that the government takes 4% of your income (after taxes) no matter the size. Once you're 65, your debt is written off no matter how much is left. The system was changed by the more fiscally conservative government of the 00s into the terms I got, which is a payment plan over 25 years. If you can't pay you can apply for an exemption, but the interest rate is still compounding during the exemption. The loan has to be repaid before you're 60. The reasons given for the change were many, but the most cited are that income earned overseas (very common, this being the EU and all) is very hard to keep track of and that this system incentivizes us into choosing a degree resulting in a high paying job. (I should ad that we do not pay tuition for universities in Sweden, the student loans are almost exclusively used for living expenses so that you can study full time and some of it is used for textbooks and other supplies)