Monday, November 25, 2013

£1 Billion in Student Loans

The British government has sold off a portfolio of almost £1 billion in loans.

The loans, which originated in 1990–1998, have a face value of £890 million, but were sold at auction for £160 million. The sale raises cash that will make the government’s books look better this year, but it also raises all the usual concerns about the takeover of higher education by big business and what may happen to society when students are treated as a cash cow.