The graduate tax is an excellent idea. Which begs the question, why the hell didn't they implement it when they had the chance?
Surely what they are implementing is just a graduate tax in disguise isn't it? The more you earn the more you will have to pay back and there are no upfront tuition fees, when I was at uni I had to pay the fee at the start of the academic year (although obviously it was only £1100 then)