A full 43 per cent of Britons aged between 16 and 21 have told a recent survey that fears over debt management problems has put them off pursuing higher education.
The figures have been released by Alliance & Leicester and the company’s research found that the prospect of debt has seen an increasing proportion of would-be students decide not to attend university.
For around more than half (54 per cent) of those polled earning money in the short-term is a more attractive prospect than accumulating thousands of pounds worth of debt, the recent research discovered.
Andy Bayes, head of current accounts at Alliance & Leicester, said: “Many 16-21-year-olds now make the positive choice to go straight into work rather than university and as a result are very career driven.
“It is encouraging to see that by taking this route many people become financially savvy with their money from a relatively early age.”
A study conducted by ClearDebt recently suggested that around 48 per cent of 18 to 24-year-olds in the UK are facing some form of debt management challenge.