What will RBS do to your student loan?
Thursday September 28th 2006
Arrive at SOAS uni to study geography. Open NatWest student bank account – receive free Young Persons’ Railcard!
Tuesday October 3rd
Student Loan cheque for £2000 arrives, deposited in new bank account
Tuesday October 10th
Cheque clears. £2000 pounds become available to RBS for investment or loans.
Wednesday October 12th
RBS Oil & Gas team authorise $80m loan to a single project oil company working in the Ecuadorian rainforest. Your 2000 pounds join 79,998,000 others in the transfer.
Wednesday October 19th
Transfer completed, the oil company continues to build its oil pipeline through the rainforest, cutting up protected reserves and indigenous rights. RBS will see the money return in six years.
Thursday October 20th
Rent is due! Tell NatWest to transfer £400 to landlord. NatWest uses RBS revenues from an oil-field project in Angola to pay your rent.
Six years later…
Half-way through geography PhD on water resources in Africa – deserve a holiday in Paris. Withdraw £300 from student bank account. Money comes from RBS profits from Ecuador pipeline.
Ten years later…
Climate change has dried up much of Africa. Wish I could have done more to stop it.