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Student debt rises again

August 15, 2007 by admin  
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Student debt levels are being ramped up still further, a worrying new survey claims today.

Run in conjunction with high street bank Lloyds TSB, the Push annual survey says that those who started at university last year can expect to owe nearly £17,500 by the time they leave.

Even more worrying is the report’s claim that this year’s freshers face a £20,000 bill for studying.

Furthermore, while the national average student debt lies at £13,000, the £20,000 barrier has already been breached at nine elite campuses.

Catherine McGrath at Lloyds TSB said: “Students face higher levels of debt than ever before and with the added pressures of escalating house prices and increased competition for graduate jobs, it’s essential that they find ways to keep their student debt to a minimum.”

Johnny Rich at Push added: “This increase is not just another rise. Some students are facing real financial hardship. Even so, the advantages of having a degree still vastly outweigh the costs.”

The Push survey was the largest ever conducted on the subject of student finance.

Face-to-face interviews were conducted by its pollsters with over 2,000 students at 130 faculties around the UK.

Tags: finance, today, survey, worrying, bill, lloyds tsb, debt levels, Johnny Rich

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