The National Union of Students is in crisis and teetering on the verge of bankruptcy, an explosive letter obtained by Guido has revealed. In recent years SU disaffiliation, along with other services that provide student discounts without the NUS’ baggage of dubious geopolitical stances, anti-Semitism scandals, and hatred of clapping have put the organisation under serious strain.

NUS President Shakira Martin and NUS Acting Chief Executive Peter Robertson have sent a letter to all affiliated Students’ Unions, setting out their dire financial straits.

“The NUS Group is facing financial difficulty. We are projected to post a significant deficit this year without enough resource to cover the loss.” “We’re looking at a £3m deficit for the group in this and future financial years.” “We have taken immediate advice on the options available to us to ensure we remain solvent. It looks likely this will include a combination of borrowing against the building we own, making cuts to staff, and turning off some of the activity we deliver.”

The NUS will try to stay afloat by implementing harsh austerity, making sweeping cuts to staff as well as cuts to services. But Guido was told that austerity was just a “political choice”?

It’s clear some big disaffiliations in 2016 have further squeezed the NUS’ finances. There has never been a better time to leave this disaster of an organisation…

Guido has obtained a copy of the extraordinary letter, which you can read in full here.