Open letter: Defend students – oppose the privatization of - TopicsExpress

Open letter: Defend students – oppose the privatization of student loans Dear Vice Chancellor, We are writing to demand that you support students and publicly oppose the government’s plans to sell off our student loans to private companies. During his autumn statement to Parliament, Chancellor George Osborne confirmed that the government intends to sell off student debt to the private sector, a process which will commence this year. We are extremely concerned that this will lead to an increase in the financial burdens placed on students and graduates. There is a high chance that after the sale the interest rates will be increased. A secret report for the government has confirmed this is the case. Even the Tory Minister for Universities, David Willetts, has made clear to a Parliament select committee last June, it is very easy for the rate of interest to be hiked up: “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.” If the privatization of student loans takes place it is likely that we will pay more each month and we’ll be paying back our debts for longer. In effect, this represents a retrospective hike of tuition fees. Privatisation is about private companies making a profit. National Rail, the Energy sector, Royal Mail and Water companies are all examples of why privatisation is not in the best interest of the public. When university accommodation was privatised the rents rocketed and are still rising. Privatisation is terrible for all of us, we all lose out, while billionaires and massive corporations profit. As students we are demanding that you the Vice Chancellor stand for all students and graduates by issuing a public statement on the university website outlining your opposition to the government’s plans. We believe you have a duty to support students and speak out against this unfair measure which will see students and graduates from this university facing even higher levels of student debt, for the benefit of private companies. We hope we can count on your support and look forward to your response on this urgent matter. Yours sincerely, London Met Students Aaron Kiely - NUS Black Students Officer Jason Jackson - Student Union President Adnan Pavel - Student Union Deputy President Mohammed Abaidullah - Equality and Welfare Officer Mike Bolaji - Christian Union President Nathaniel Amoatin - Nigerian Society President Barbara Ntumy - London Met Student (NUS Black Students Campaign)