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As the UK economy continues to dive bomb towards recession the Bank of England has given its most blatant indication to date that interest rates will fall again in January. The indication was that...
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Thursday 19th June 2008
British students are being urged to prioritise their debt, as many graduates from university owing money on credit cards as well as student loans.
Chief executive of moneynet.co.uk, Richard Brown, has expressed his view that bills waiting to be paid on credit cards could be a more pressing need than the repayment of student loans taken out to supplement study.
He commented: "You have a very long window to repay student debt - nobody is saying that you should be cavalier about this as some people graduate with substantial student debt but it is a fact of life unfortunately, whereas carrying big wads of debt on a high interest credit card isn't."
According to figures from Credit Action, the total UK personal UK debt stood at £1,436 billion at the end of April 2008.
Meanwhile research from Natwest found that UK students are graduating with an average debt of £12,363.
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