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Student Loans Are a Tax?

Could it be that the Student Loans are in reality a graduate tax and not really a loan.

They seem to me like income tax which is a progressive form of tax -- the more you earn the more you will pay. Low income earners will not pay anything and after 30 years there will be nothing to pay.

If tomorrow the Goverment change the name and call this a graduate tax and not loan -- the reality may stay the same but everyone will then say that Degrees are now Halal.