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Student Loans

Student Debt

£206 Billion

Loans funded

by taxpayer

Est. Debt repay

0-£150,000

Student loan repayments collected via PAYE go into HM Government’s Consolidated Fund, a percentage of which is then used to finance arms manufacturers, illegal wars and crimes against humanity in multiple countries including Iraq, Afghanistan Yemen, Ukraine and Gaza - countries which have never attacked the UK mainland.

Those still paying their taxes are directly complicit in these crimes. Graduates therefore have a duty in law to set aside their student loan repayments until such a time that the UK government learns to abide by those international and domestic laws to which it is a signatory. 

WHAT
CAN I DO?

Set aside your loan repayments in a conditional TRUST, listing HM Gov as Primary Beneficiary (download doc on right), the condition being that HM Gov can ONLY collect these monies when they can prove, beyond a reasonable doubt, that none of your taxes will be used to fund war crimes, crimes against humanity or genocide.

 

What happens if the Government can’t satisfy the conditions of the trust?

At the end of the financial year, if the Government fails to provide evidence that they are acting lawfully and legally, the monies set aside in the trust return to the Secondary Beneficiary, which is you.

Actual Costs

THE LOAN

After the cost of a university education went up threefold in 2012, students found themselves forced into loans that were promised to remain at very low interest and are now charged out at 7.9%. Average student debt in England now stands at £45,150. Student loans stand at £206 (est £458BN by 2047) and the amount of interest paid on student loans is currently £8.35 billion, up 78% since last year with the largest single interest debt at £54,048.

   THE FINANCIAL INSTRUMENTS

SLC's mortgage-style loans for which payments were mostly in arrears, were sold off in tranches to Greenwich NatWest (£1bn) & Deutsche Bank and the Nationwide Building Society (£1bn). A later tranche to a consortium  Erudio Student Loans, in 2013 for £160m. This means the taxpayer is now funding another private company making a profit from public debt.

THE CONTROVERSY

In July 2014, the SLC was accused of using controversial tactics akin to those of the payday loans company Wonga after it was discovered that it had been sending out letters from what appeared to be an independent debt collection agency called Smith Lawson & Company. It was in fact The Student Loan Company trading (on that occasion) as Lawson & Company.

Students worried about debt should console themselves with the following: Student loans are paid back at 9% of any earnings over £25,725. which means the loans will probably never get paid back until someone is earning a considerable amount of money. The aim of these loans was never that students pay them back, but a way to pile another burden on the taxpayer with interest attached - paid by the students - and to keep students in debt.

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