Debt for new students set to rise

15 August 2007
This year's new university students can expect to owe more than £20,000 by the time they graduate, according to new research.

Lloyds TSB in association with Push has found that those who started their course last term will leave with arrears of approximately £17,500.

The annual study from Push has also shown that student debt now tops £4,000 for each year a person is in higher education, which represents an increase of close to 25 per cent over the last 12 months.

Catherine McGrath of Lloyds TSB commented that the right financial provision can keep people in good stead for the future.

"Good budgeting skills can really help students to start off on the right foot while they get to grips with managing their own money. A smart approach is to plan ahead and seek guidance now," she said.

Later this week, college students up and down the country will find out their A-level results and decide on their futures in higher education.

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