Coventry South’s Member of Parliament has asked the Government to reconsider its proposal to sell student debt to the private sector. In a move that effectively privatises the student loans system, Jim Cunningham MP has questioned the proposed deal saying it puts tax payers and students at risk.
Jim Cunningham MP, who has two Universities in his constituency said;
“This is a surprising move from the Government. The last time they sold off some student debt, they later admitted it was bad for the taxpayer. Why would they want to do that again?
I think students have a right to know the terms of the loan they take out with the Government when they go to university will always remain the same throughout the period of the loan. Opening up the system to the private market removes some of the certainty we should be providing to our young people.
I’ve written to the Government to express my concern about this issue as well as tabling an Early Day Motion in the House of Commons which is picking up support from other Members of Parliament.”