Student Debt Increases - More Loans needed to graduate

The golden days of being a student in the UK are over. Gone are the generous government grants, which enabled a student to live within his means.

A combination of higher living costs, tuition fees, and the means testing of government grants means that the average student is leaving university with a debt of £10,000. Research by the Bank Barclays suggests by 2010 this figure could rise to nearly £30,000.

Students should take out the maximum amount of Student Loans. Typically the interest on a student loan is very low, about the rate of inflation. It is much better to borrow on this interest scale than borrow on credit cards and bank loans. Another benefit of student loans is that you don't have to pay them back until you are earning a significant salary.

For more information on reducing your personal debt burden

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