The online bank found almost half of graduates “have fundamentally changed their attitude to debt” and are determined to avoid being saddled with serious debt again.

“Our research clearly shows that many students, already experienced in what they perceive to be unavoidable debt, represent a shift in attitude towards spending and debt,” said a spokesperson for Egg.

However, six out of ten graduates said they will continue to use credit cards in the future – but almost half said they would use them more responsibly.

Almost three-quarters of individuals said they felt financial services providers should help students and graduates control their finances by telling them when they were spending too much.

Total student debt in the UK increased by almost 19 per cent to just over £14.6 billion in 2004.

Egg launched its latest account, Egg Money last month.

The new account aims to help customers save by separating money for bills from other cash.

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