Tuesday, 11 August 2009

SNP ACTION TO TACKLE STUDENT DEBT


RECESSION WRONG TIME TO CUT SPENDING
Responding to a report from the National Union of Students which shows the main financial concern facing university students is the prospect of debt, and in particular commercial debt SNP MSP and Education Committee member Aileen Campbell said;

"This report shows that the SNP Government's decision to scrap the graduate endowment was exactly the right move. With debt coming out as students main concern the SNP's action to cut £2300 from that debt burden by abolishing Labour's graduate endowment fee shows the Government taking steps to help students get the best possible start in their working lives.

"Scottish students were failed by the Labour and Lib Dem administration with a lack of financial support which is why the SNP Government has announced £84 million to support Scotland's students. To tackle student debts the SNP has restored the principal of free education, increased hardship funding, reintroduced grants for part time and post graduate students and has invested support in independent learning accounts to help Scottish learners fulfil their potential.

"Alongside Government action to reduce debt it is important that the big banks who used extensive overdrafts and loans to students as a way to attract customers for life, treat students responsibly as they make the transition to from study to work in a difficult market.

"This report shows students will be affected by the UK recession and the financial concerns they face show that this is precisely the wrong time for the UK Government to cut £500 million of valuable investment from the Scottish budget."

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