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Students told to keep keen eye on finances

Students told to keep keen eye on finances

Category: Savings

Updated: 18/08/2009
First Published: 18/08/2009

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

New students heading to university this autumn could end up graduating with over £23,000 of debt, according to a new survey.

The research, from the independent guide to UK universities, Push, highlights the financial difficulties many students will face, particularly given the downturn in the economy.

Just last year, a separate survey found the average parent believed £12,550 would be sufficient to see their child through a three year degree course, illustrating a vast difference between expectations and reality.

"It's vital that students keep a keen eye on their financial situation, especially as their parents may not be able to bail them out," said Neil Munroe, external affairs director at Equifax.

"With a little careful preparation and budgeting, students can avoid getting into financial difficulty, which will help them deal with the realities of graduate wages. Being careful now could secure the future of their finances, as well as their education and career prospects."

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