Students face debt as ‘fact of life’

Although students are offered loans, this is often not enough the report claims and many are seeing debt as part of their daily existence both as a student and graduate.

“We try to advise new students to be sensible with their money. The truth is they are not going to be able to support themselves on the student loan,” James Nicholson, head of student support for the University of Abertay, told Dundee’s Evening Telegraph, which carried out the report.

“It is a simple fact of student life that you are going to have to take on an overdraft to supplement your income.”

The report comes amid concern over the number of graduates declaring themselves bankrupt or taking up jobs.

Although many welcome the extra cash to pay off debt, there are concerns that students are not getting the best out of their degree as a result.

Indeed, Mr Nicholson said he advised students not to work more than 12 hours per week due to this, but the realities of debt mean that many are likely to.