For the first time in its history, a student debt advisor is to join the staff at Queen’s University, Belfast, in response to the burgeoning levels of student debt amongst its attendees.
According to research from university advice website Push, Ulster students who started university in 2006 will owe just less than £15,000, on average, by the time they leave university.
This problem is likely to worsen as students in Northern Ireland are said to be running up more than £4,000 a year in debts, 17% higher than last year’s level.
It is hoped the new advisor will be available from November on a full-time basis.
Finance advisor at the university Connie Craig has offered several suggestions for students to discourage them from accruing unnecessary debts. These include devising a suitable budget and keeping paperwork up-to-date so that funding is received at the appropriate time.
"Students should have a look at their finances and work out how much money they are going to require and how much money they will have," she told the Belfast Telegraph.
Ms Craig also recommended that students avoid temptation to “go mad” in the early stages at university and to research different types of bank account to ensure they are getting the right deal, rather than concentrating on free gifts and offers.
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and student debts