Debt ‘may put people off university’

Worries about debt management may deter some young people from going to university, it has been claimed.

Johnny Rich, the editor at student website Push.co.uk, said that finance is the “chief concern” that most families face when deciding whether someone can enter further education.

Those who are “most challenged by finance” are more likely to be put off going to university due to anxiety about “serious debt”, he stated.

Mr Rich noted that people who joined a course last September will graduate with average debts of around £17,000, a figure that is set to rise to £20,000 for those that start university this year.

Ways in which students can accrue debt include government loans as well as bank finance such as loans or overdrafts.

One in four university attendees will receive less money from their parents this year as a result of the economic downturn, the National Union of Students has reported.

By Jamie Price