Students advised to seek help with their debts

Students that are struggling with their finances should not be afraid to seek help, one expert has suggested.

Andrew Hagger of comparison website Moneynet.co.uk said that money worries will not disappear and could end up disrupting a person’s education.

He remarked: “If your money isn’t going as far as you’d thought and you’re in danger of going over your limit, speak to your bank.”

Individuals that have access to an on-campus facility should look to speak to a student specialist if possible, Mr Hagger added.

While those attending university would be best to avoid a credit card, he stated, making sure interest free borrowing is available on an overdraft is a priority.

Anyone with excess cash should also look to put it in an instant access online account rather than leaving it in their current account.

Thomas Usher, research fellow at the Institute for Employment Studies, recently commented that young people have been affected by the current economic climate more than any other demographic.

By Francis Finch