Universities 'will be affected by graduate debts'

27/04/2009

Huge debts racked up by students using credit cards and loans, as well as their student loan, are putting financial pressures on recent graduates.

According to specialist student website Push.co.uk, the rising debt levels could also discourage many recent graduates' younger relatives from attending university themselves.

The comments come in the wake of new figures released by the Department of Innovation, Universities and Skills last week, showing that the average estimated debt of 2008 graduates was £7,800.

At the same time, the credit crunch and recession had resulted in family financial support for the graduates falling by 13 per cent in a year - blowing a hole in budgets.

Rising graduate debt levels could cause a change in the demographic of students who attend university, warns Push.co.uk.

"We may see the population of students - the demographic becoming less progressive- less of a cross-section of society than the government has said that it wants at university," said Johnny Rich, editor of student advice website, Push.co.uk.

"In other words those that are most challenged by finance are the ones who are most likely to be put off by going to university by the serious debt."

Tags; Budgeting Advice, Recent Graduate Debt,

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