TweetShareThe sample of under-30s surveyed gave an average amount of £1,073 owed per person in credit card debt, below half of the average debt incurred by 30-50 year-olds. The under-30s made greater use of overdrafts, with 51 per cent using the facility offered by their account. The majority who admitted to owing £1,000 or more [...]
Archive for the ‘Debt and Young People’ Category
Under-30s avoid credit card spending but spread debts
by News Team on May 4th, 2006
Bricks, mortar and mortar boards
by News Team on May 4th, 2006
TweetShareThe lender has launched the ‘Buy for Uni’ mortgage, a 100 per cent loan, after discovering through research that there is apparently little difference between average student rents and average mortgage payments in Bath. The building society’s target customers are both students and a significant proportion of parents, who themselves have financial security and equity [...]
Debt offers mortgage solution
by News Team on May 4th, 2006
TweetShareBradford & Bingley’s Duncan Pownall, who runs the mortgage development sector at the lender, said that even though increasing numbers of young people were in debt it did not mean they would be unable to borrow money. Citing new research which shows that nearly half of first time buyers owe £8,000 or more before they [...]
Graduate debt hurts earning into 30s
by News Team on April 25th, 2006
TweetSharePeter Brown of educational consultants Gabbitas, and author of the report, found that graduates are an average age of 33 before their lifetime net earnings after the costs of education overtake someone who began working straight after school at the age of 18. He found that those who left education after taking A-levels have average [...]
Two year degrees to help student debt
by News Team on April 19th, 2006
TweetShareHigher education minister Bill Rammell yesterday announced his initiatives to help the government reach its target of 50 per cent in higher education. By introducing a credit system similar to those used in the American higher education situation Mr Rammell hopes to improve the flexibility of how and when students can benefit from higher education [...]
Bankruptcies up in the east of England in Suffolk
by News Team on April 18th, 2006
TweetShareWhereas in 1995/6 376 people became bankrupt, 655 people fell victim to debt pressures in 2005/6. In particular those aged between 18 and 29 emerged as an increasingly vulnerable group, with the percentage of bankrupts coming from the young doubling since the new millennium. “More young people are going bankrupt because of things like student [...]
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