This is not, of course, the first such sale, but each sickens me. Each turns education into debt slavery. Each reduces large numbers of young-ish people into just another commodity for the financial sector to trade. Each alienates them further from a society that should want to transfer the skills they need to them so that they can flourish.
And each shows how wrong the priorities of government are. Remember the government is still subject to a debt repurchase programme by the Bank of England right now. And at the same time it is selling student debt, wholly unnecessarily. Indeed it could simply sell it to the Bank of England and have it effectively cancelled instead of making this sale to the private sector right now. Nothing would liberate entrepreneurialism, the ability to buy a house, the chance to save for a pension and even boost growth more than doing so, I suspect. But instead the dogma of financialisation rules.
The students of Ritchie presumably gain value from being taught by Ritchie. Why shouldn’t the students of Ritchie thus pay the costs of being taught by Ritchie?
But no, instead the magic money tree must levy an inflation tax upon all rather than the students of Ritchie paying what his education skills are worth.