Student Debt Touches £22 Billion
It is a figure which may well scare many potential students into entering the employment market earlier than they planned, but news that student debt in the UK has mushroomed to a massive £22 billion has not been well received by the National Union of Students. Under the new regime in the UK (except Scotland) the average student will leave university with debts in the region of £30,000 and costs are still rising!
The National Union of Students calculates that the direct cost of further education is in the region of £20,000 but when you add in rent, food, etc the cost balloons to over £30,000. This means that a new wave of university leavers will be forced to take less well paid jobs to ensure that they start repaying their debts as soon as possible. While the banks are a student’s best friend when they have no money offering loans, overdrafts and discounts offers, once the customer leaves university and has an income each month they will want their fair share.
Further education throughout the UK has never been as expensive as it is today, with the exception of Scotland where there are different regulations, and the number of people entering further education is set to fall over the next couple of years. Often seen by many as a way to avoid employment in the short term, further education is now moving out of the reach of many.
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