Debt management tips given to students

Students have been offered debt management advice that may help them to handle their finances while at university.

Johnny Rich, the editor at student website Push.co.uk, said that there are “three golden rules” for those in higher education to follow in order to remain relatively debt free.

The first is to maximise income by applying for all the finance that is open to university attendees, such as student loans or overdrafts, he stated.

And the second is to minimise outgoings – through methods such as opting for cheaper supermarket brands and giving up smoking – while the third is to choose a university that has cheaper living costs attached.

“If you plan it all and stick to your budget then you should be able to make your way through university relatively problem-free,” Mr Rich commented.

Estimated debt levels for those graduating from full-time courses last year stood at £7,800, according to the Department of Innovation, Universities and Skills.

By Jamie Price