Debt problems a concern for more than a third of students
Debt problems a concern for more than a third of students
- Thursday, 18 March 2010Almost 40 per cent of students are worried about
debt problems, research out today has discovered.
The 2010 Sodexo University Lifestyle Survey, published in accordance with Times Higher Education, has revealed that half of all full time UK undergraduates expect to graduate with more than £15,000 of debt, with 28 per cent set to amass debts of more than £20,000.
Just two per cent of students accumulated debts of the highest level when the survey was first undertaken in 2004.
Though a higher proportion now believe that the accumulation of this debt is a worthwhile investment in their future, the magnitude of debt that today's students are amassing is a source of disquiet for some.
Dr. Gary Day, the principal lecturer in English at De Montfort University, said that mounting financial pressures were changing students' university experience.
"Today's students are studying in difficult times," he said. "Top-up fees, a global recession and a major increase in unemployment in the UK has forced them to reassess their time at university," he added.
Many students are deciding to live at home while they study and two thirds are finding it difficult to juggle academic, work and social commitments.
A vast majority of students spend £20 or less each week on socialising, alcohol and cigarettes.
Set to leave university in more debt than any generation before them, students will hope to enter an already difficult job market to begin the repayment process.
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