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Graduates 'likely to seek out debt advice' after failing to break £15k mark

Graduates 'likely to seek out debt advice' after failing to break £15k mark

- Thursday, 23 July 2009

Thousands of recent graduates could be struggling to live with high levels of debt after failing to land a well-paid job after leaving university, newly-published figures suggest.

According to the Student Loans Company, just half of people who went to university after tuition fees were introduced in 2008 are currently earning over £15,000 a year.

While this means that they are not required to pay back their student loans, it also suggests that they are also likely to be struggling with rising living costs and may even be turning to debt management plans to help them get their personal finances back in check.

Commenting on the figures, Stephen Williams, the higher education spokesman for the Liberal Democrats, said: "It's depressing that so many graduates are earning far below what would usually be considered a graduate salary.

"Thousands of them are going to be carrying a huge debt burden for many years to come."

Meanwhile, as reported by the Times the government recently announced plans for the introduction of 'no-fee degrees', with such a policy likely to lead to a fall in the number of graduates who stayed at home for university seeking debt management help in the future. ADNFCR-2300-ID-19278497-ADNFCR
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