I'm unsure if it's a party political issue or not. The simple fact is far too many people go to university
In our parents' generation university was restricted to the top 10% ability wise and paid for by the government. That makes a lot more sense than the current system where virtually anyone can do a degree based on their ability to pay and irrespective of their suitability for it.
For one thing, a degree is supposed to be an academic pursuit. Practical skills such as nursing etc are not academic subjects, therefore what is the point of creating a degree in these subjects.
Back in our parents' day you didn't need a degree to get on. My dad left school at 15 with nothing, not even a CSE, and got an apprenticeship. He did alright, he wasn't top of the tree but we had enough money for a house and a car and foreign holidays most years. Mum left at 16 with O'Levels and took a similar route, working for Commodore computers when it was still a big deal.
But that's all changed. The days of getting a decent job in the Civil Service with A'Levels have gone. You need a degree and, increasingly, that degree needs to be a 2:1. I agree it is madness, but I'm not sure how it can change. Employers expect the degree now, persuading them to change will be almost impossible.
Nursing isn't the best example because the job has changed so much- senior nurses now have as much, if not more, medical responsibility as junior doctors- but I don't disagree with you. The problem is that the degree is now seen as the starting point for job applications- my replacement in my job must have one- and moving back from that position is going to be very very hard.
The alternative routes really aren't there in most sectors. Now we all know someone who started at 16 on the shopfloor and worked her way up to the top, but those stories are known about because it is so uncommon. These days you need a degree, so people have to go and get a degree, even if they don't really want to or they're not really suited to it.
For a lot of top level jobs now, I'm increasingly seeing a demand for Masters or even doctorate level qualifications. The MBA is just the most obvious example. My wife is a clinical psychologist and the entry level qualification for her profession is a doctorate.
I have no direct evidence for saying this, but I'd imagine it's having pretty disastrous consequences in terms of social mobility.
Repayments are on a bell curve, it's disastrous for social mobility. And factor in interest- whilst you're studying it is RPI+3%, which is more than my commercial bank loan- and it gets worse.
If you graduate and end up in low paid work, you'll make small (or no) payments towards the loan for 35 years and the rest will be written off.
Where the current system really stings you is if you graduate and end up in higher-paying middle-management style jobs, maybe earning £50k a year. You'll be paying it for 30-35 years but you'll be making high payments and you'll probably repay in full, just before you retire, but with 30 years of interest added to the bill.
Earn megamoney, or come from a wealthy background and not have to use the loans at all, and you'll repay much less. That really isn't fair.