Students Face Huge Debt Hike
Here’s why you should care about the student loan sell off
It seems we’re all talking about student politics in Oxford these last two weeks.
Whether it’s LJ Trup’s sensational win and what he’ll do as President, or the huge disappointment of the ‘regular’ candidates in losing to ‘the joke’ choice‘, everyone has a reason to be either delighted or pissed off and they’re letting everyone else know.
But one thing has slipped all our minds. It hasn’t got the backing of The Tab, it isn’t going to get 1600 votes in an OUSU election, and it won’t be knocking on your door asking for you to vote for it.
That’s because of what it is, the sell off of our student debt to private companies. It is a ridiculous idea, and one that no student should be looking forward to.
Witless Uni Minister David Willetts gets a warm reception at Balliol this week
On the contrary, we should be mortified to think of our debts spiraling upwards. This week the government sold off the last package of debt from pre-1998 loans, and have announced they’re going to sell off the loans from 1998 to 2012. Okay, should we care?
Well, yes. If you don’t want to end up like New Zealand’s students when this policy was carried out there, paying back much higher debt.
David Willetts, the universities minister and the real ‘joke candidate’ in student politics, has said: “In the letter that every student gets there are some words to the effect that governments reserve the right to change the terms of the loans.”
Student moans
You mean you can just sell off our loans to whoever the hell you like and expect us to pay back more every month, for longer, under whatever conditions they buy them at? Of course they do.
A new meaning to “predatory sharking”
I urge you to join the week of action from February 3rd to 7th, and have your JCR pass a motion of support.
We shouldn’t accept this. The policy is an outrage, and we ought to say so. Loud and clear.
James Elliott is the OUSU Rep for Teddy Hall JCR and one of Oxford’s NUS delegates. If you have an issue you want to talk about then email [email protected].
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