As the number of Individual Voluntary Arrangements (IVAs)
and bankruptcy applicants continues to rise across the country, the NUS is keen to see that the interest rates on student loans do not increase beyond the rate of inflation.
Controlling the debt management difficulties faced by students in the UK has been highlighted as one of the five most pressing concerns for the NUS and its membership as Tony Blair’s time as prime minister draws to a close.
“Five challenges for the next prime minister’ highlights growing areas of concern for over five million NUS members across the UK, in five key areas, health, travel, debt, skills and work,” a statement from the union read.
Meanwhile, the accountancy firm KPMG has forecast that the number of people in the UK who will enter into an IVA throughout the course of this year will reach 130,000.