Student debt to reach £25,000 for this year’s students
Student debt levels are projected to rise to £25,000 for those starting university this year.
The annual survey of 2,000 UK students for university guide Push also found average yearly debt had increased by 5.4% to £5,600 per year of study.
The researchers asked 2,000 students at 139 university campuses what debts they had amassed. They were asked to include everything from tuition fees to credit card and bank debts, but to exclude mortgages.
They found students in England had an average debt of £5,293 per year, while those in Wales netted an average of £6,411. In Northern Ireland it was £3,769.
In Scotland, where home students pay a much reduced fee but tend to study for four years, the average was £2,637.
The UK average is then multiplied by the average number of course years and a number of inflationary factors are worked in to form a projection.
Aaron Porter, president of the National Union of Students, said it was vital that a fairer alternative is found to the deeply unpopular and regressive system of top-up fees.
“Fees trebled three years ago, with no subsequent improvement in student satisfaction, and yet vice-chancellors now wish to more than double them again.
“Universities should look at improving the student experience, and providing better financial advice and support, rather than spending their time lobbying to add over £10,000 to the average student’s debt.”
Under current rules, students can claim a loan to cover the cost of tuition fees, plus extra for living costs. There are also grants for the poorest students.
Loans begin to be repaid after a student graduates and is earning more than £15,000.Lord Browne’s review of student fees is set to report in the autumn. And the coalition government has said any policy changes resulting from the report will take account of student debt.
September 7, 2010
Tags: borrowing, consolidate debt loans, Credit Crunch, personal loans, student loans Posted in: Uncategorized
One Response
Thank you for another informative blog. Where else could I get that kind of info written in such a perfect way? I have a project that I am just now working on, and I have been on the look out for such information.
Leave a Reply