Graduates will be left with £23,500 worth of debt
A new study has shown that students who start at university this September will be left with debts of up to £23,500 by the time they graduate.
The Push Student Debt Survey found that debts for students at varying levels in their degrees owed £5,000 worth of debt, and this figure is on the rise.
A further study by the National Union of Students (NUS) and HSBC bank also blamed “hidden” costs of university such as equipment and field trips as pushing students further into debt using credit cards and other loans.
The research says that the predicted £23,500 debt will include not only student loans and tuition fees but also debts on credit cards and other loans taken out as well as forcing some students to take on employment whilst studying.
The findings from the NUS study show that Mathematics and Computer Science courses are the most expensive when it comes to these additional costs, with some students spending £1,430.40 a year.
NUS president Wes Streeting advises that students should be warned before going on courses of any costs incurred.
“It is completely unacceptable that applicants are left in the dark about the true cost of degrees. Many students preparing to go to university this summer may be in for a real shock.”
Tuition fees for new starters will be capped at £3,225 per annum. Students can claim a loan to cover the cost of the fees as well as additional living expenses, and some grants are available to the poorest students. A review of the tuition fees is due to be carried out by the government in the autumn.
There is a fear in educational circles that the increased fees will essentially price the poorer students out of going to university.
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