Student debt may be sold off
Writing about web page http://news.bbc.co.uk/1/hi/business/6453499.stm
According to the Beeb, Gordon Brown is planning to sell off the right to collect at least some of the estimated £16bn students owe to the government. Why do I have visions of the debt being bought by some evil parasite like Smallweed in Bleak House? Doubtless for people who don’t pay up it’ll be bailiffs galore.
Luke Parks
15 Mar 2007 13:43
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Tags: Politics Student Loans
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Lee Davis
Another short term fix to raise revenue with no concern for the future.
They will have to sell off the debt at a large discount to the amount that realistically they believe will be repaid meaning less money in future years.
Same as all these PFI schemes, companies are only interested because they can make money from it so whilst in the short term it looks a good deal in the longer term it will cost significantly more.
Of course politicians don’t care as by then they will no longer still be in power so it isn’t their problem (alternatively they will be back in power but blame it on the intervening administration).
15 Mar 2007, 14:30
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