^ You could even make the case that that's silly. I mean, if you've done a degree which doesn't pay enough to let you pay off that loan, your loan is eventually written off... but if they gave you another loan to do a more sensible degree, you may then earn enough to pay off both loans.
I could be wrong, but I also kind of get the feeling that it'd happen rarely enough (people wanting to do second degrees) that, whether with the old grant system or the newer loan system, they're possibly trying to solve a problem that doesn't exist. If they suddenly funded second degres for anyone who wanted it, would there be a raft of people taking that up? As I said, I could be wrong, but I doubt it. Most people will take the well-paid job over a second degree, I'd have thought.
Plus I mean if you can't get a job, training further is probably a good idea. Not funding someone to do a second degree which may lead to a good job and then paying to have them on the dole (or even topping up low pay with tax credits and the like) possibly costs more in the long run.
I just don't like the idea of getting one shot at it- obviously I have personal beef with this as I feel I chose badly, but at the same time when you're making up your mind at 16 (actually probably 14 when it comes to choosing GCSEs), often with iffy careers advice...