School leavers underestimate student debt threat

The Royal Bank of Scotland (RBS) claims that most school leavers have not budgeted for university and those that have are underestimating the cost, often expecting parents to pick up the bill.

Paul Jeffrey, head of student banking at RBS, commented: “Our Financial Realism Report highlights the need for school leavers to prepare financially for university.”

The report comes as this year’s students are set to be the first to be charged top-up fees, meaning that they will incur even more debt than previous generations of undergraduates.

But it is not just fees adding to student debt, school leavers are underestimating how much they will spend on alcohol each term by up to £87.70.

With RBS offering overdrafts of up to £2,500 for students, some might get by in the short-term but could face graver debt problems in the future.

Tell others:


By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.