Archive for the ‘Debt and Young People’ Category

TweetShareThe average owed for each year of study now stands at £3,103 according to LloydsTSB and Push, a nine per cent drop on last year’s figures. “This year’s debt fall probably indicates some belt-tightening on the part of today’s students,” commented Johnny Rich, series editor of the Push guides. However, this figure could rocket for [...]

TweetShareOver the next ten years, Skandia predicts 4.2 million graduates will have a combined debt of £71 billion as the government expects the average student to graduate owing £15,000. “[University] should form the start of a long and fulfilling career, not a start to years of debt problems,” said Skandia spokesman Charlie Musson. “If parents [...]

TweetShareAccording to the NatWest poll, this translates into a graduation debt of £14,779, over £1,000 more than graduates owed last year. However, Mark Worthington, head of NatWest student and graduate banking, saw hope in the findings: “Despite the anticipated cost of university rising by 17 per cent on 2005, students are taking it in their [...]

TweetShareThe National Postgraduate Committee (NPC) found that 77 per cent of potential postgraduates from working-class backgrounds said that money worries put them off further study. “Debt is a major concern for students, especially those from lower socio-economic backgrounds,” said Simon Felton, the general secretary of the NPC, in The Times Higher Education Supplement. While most [...]

TweetShareAn Association of Investment Trust Companies (AITC) study has shown that students expect to graduate with £6,199 of debt while parents estimate £7,080, but the real figure is £13,500. Annabel Brodie-Smith, communications director at the AITC, commented: “It’s concerning that so few would be students and their families really comprehend the financial implications of going [...]

TweetShareStephen Lea, professor of economic psychology at Exeter University, said consumers were “pretty cheery” about getting into arrears for products such as cars and holidays. He told BBC Radio 4′s Today programme that this was almost inevitable: “Students in effect have no option but to go into debt in many cases in order to maintain [...]