Aaron Kiely, NUS Black Students’ Officer and a spokesperson for the Student Assembly Against Austerity said:
“It is outrageous that the government has just sold off a public asset worth £900m for only £160m, confirming once again that the Tories care more about the profits of their mates than the lives of ordinary people.
“In June government outlined their intention to sell off the whole of the student loan book to private companies before the next general election.
“This will lead to higher interest rates and a greater burden of debt on graduates, with private companies aiming to make as much profit as they can.
“The Student Assembly Against Austerity is co-ordinating a major national week of action in the New Year to make the government think twice and drops this unjust and unfair policy.”
"With the privatisation of the student loan book, the lib dem betrayal of students is complete. We are already being saddled with record breaking financial burdens, crushed between soaring living costs and plummeting employment prospects.
"The assurances that interest rates are safe in bankers' hands is laughable, it's like trusting a shark to look after a seal. The Tories are conspiring to squeeze every last penny out of what is fast becoming Britain's lost generation.
"We won't take this degree of shameless exploitation lying down. The government can expect growing resistance nationally."