Student Loan Debt
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A study by the NatWest Student Money Matters found this year’s freshers believed that they will have to need £950 a month to pay for essentials such as rent, food, books and those, perhaps not so essentials, beer and cigarettes. This would mean that they will require £26,000 to cover university expenses over a three year degree. The study also found that sixth formers are expecting to graduate with debts of around £13,000, which is in line with reality. Average graduate debt has risen by £4,055 since 2003 to £12,180, with 59% of graduates (up from 31% in 2003) leaving university with debts of over £10,000. This increase looks pretty much in line with the forecast from the Department for Education and Skills for debts of £15,000 for those starting courses in 2006. More information: |
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student loan debt