Essentially what this means is perhaps the worst ICR imaginable. Essentially, there are good ICR's and bad ICR's. The question of an ICR's value rests in the issue of forgiveness and interest subsidy. I think we can all agree that interest subsidy while in school is a must. Without it, principles would grow astronomically.
Forgiveness is simply an issue of debt management.
Without it, the problem of negative amortization is exacerbated. With compound interest accruing after a student graduates, the borrower must make payments larger than the interest to avoid negative amortization. Negative amortization simply means your principle gets larger. Essentially, a person with low income and high debt can only rent their education.