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Sliced graduate vacancies potentially increase need for debt advice

Sliced graduate vacancies potentially increase need for debt advice

- Wednesday, 8 July 2009

A quarter of graduate jobs have been cut this year, increasing the potential need for debt advice among those unable to keep up with loan repayments.

Although university grads repay student loans relative to income, many students also depend on additional credit in their study years.

With significantly fewer jobs available to the class of 2009, there is an increased risk that more of them will fall into financial difficulties and require assistance in managing their debt.

According to the Association of Graduate Recruiters (AGR), as a result of the 25 per cent reduction in job numbers, there will be 48 applicants per position.

The Association does not expect the situation to get any better by the time university leavers in 2010 are on the job-hunt.

Carl Gilleard, chief executive of the AGR, said: "I wish we had better news to announce today but we cannot hide from the fact that dramatic vacancy cuts will make the job search very tough for graduates both this year and probably next year too."

Only the energy, water and utilities sector has seen an increase in graduate opportunities.
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