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21ST AUG 2008
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SDRS will be campaigning out side the NUS National Conference at Blackpool Winter Gardens on Wednesday & Thursday this week. The aim of the campaign is to raise awareness of the scheme with the hopes of integrating the SDRS with the NUS Extra card in the future, to bring into existence a real solution to alleviate the problem of Student Debt in the UK.
The simple idea behind the SDRS is to harness the spending power of the immediate family or friends and therefore the community to help reduce an individual students debt by up to 50%
The SDRS is based around a similar concept to that of already existing loyalty schemes and discount cards that both students and their families are both comfortable and familiar with.
This we call the Student Debt Reduction Card (SDRC). The SDRC however has a very important difference. Instead of the students family receiving a discount or points with their purchases, on the production of an SDRC an amount equivalent to the current discount offered by the retailer or a percentage of the purchase value is transferred to the students SDRS Bank Account held in trust at one of the major financial institutions that sign up to the SDRS, such as HSBC, Barclays etc.
The Student will be able to use the balance of their SDRS Bank Account against their Debt after they graduate and leave Higher Education or be given the option to extend the SDRS further until the debt is cleared.
Alongside the contributions made to individual students it is hoped we can persuade businesses and banks involved with the scheme to provide funds on a level linked to the total spend in their establishments available to universities in the form of scholarship schemes and or bursaries to aid those students that are not in a financial position currently to go to university.
The SDRS process, is designed to be easily incorporated into established discount and loyalty card schemes such as the NUS Extra card and or Tesco Club card. It is not intended to compete with these systems, but instead compliment them and put what is largely a marketing function to good use. It is with the support of these companies and organisations that will make the SDRS a real success
It is hoped the campaign will lead to constructive dialogue with the NUS executive with a view to moving the SDRS forward this year in real terms
For photo opportunities please contact the office on 01271 344738
Provided by The Student Zone (United Kingdom) |
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