Thursday 16th August 2007
With current student debt standing at a huge £18,116 million, this year's crop of A-level students who are heading off to university are being warned of the implications of the debt they build up while they study.
Barclays put the average debt of a graduating student at £13,500, as many students rely on credit-cards and loans to cover all their expenses, from rent to going out, as well as their tuition fees.
Melanie Mitchley, consumer debt expert from Callcredit, said: "Going to university is a great experience, however, we are urging all students whether Freshers or in their final year to be aware of the potential pitfalls if they don't take control of their financial affairs.
"If you do decide to borrow money be aware of the amount you are borrowing and think about how you will repay it.
"Our experience has shown that taking on credit needn't be a problem if you manage your finances well and ensure you keep up your repayments."
Figures released earlier this week show that many students are facing up to the reality of debt - graduate debt was found to have fallen for the first time since 2000 in a study by Natwest.
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Loans
While today’s decision by the Bank of England MPC was literally a no brainer it does not help the thousands of home owners who are struggling to make ends meet. As we read another report from the... 
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