I actually think in theory it's a GREAT idea. Education is absolutely crucial to the future success of this country.
We don't want to and can't compete in the low cost industries alongside China who have lower labour costs than we do and less employee protections.
So we need to compete smarter. And as such we need a top class education system. The more people we get through it, the more attractive UK will be to high tech companies to invest in.
Remember it's not that long ago that University education was free. I was one of the last to get a full grant from the government and student loans had just been introduced.
How is it fair on low to middle earning tax payers to fund an extended education for others to potentially out earn them?
This is a very naive view. The more graduates earn, the more they will be paying in taxes and that benefits everyone including the low/middle earners who won't need to dig so deep.
Based on the same logic, why is it fair for allow to middle earning tax payer to fund the NHS for a rich person to see his GP. Some things in this country we do for the greater good. A free education in my opinion is one of them.
Now I said at the start that this is all in theory. In practice the number of graduates has grown massively since my time at Uni, hence why none of the major parties have even thought about making it free again. There simply isn't enough money to fund everyone for free unless we take money from elsewhere. Eg. NHS, Police, Schools, Welfare.
The green's can come up with all sorts of barmy unrealistic policies since in practice they have sod all chance of coming to power.