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Debt Sentence For 2007 Graduates

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http://www.thisismoney.co.uk/saving-and-ba..._id=52&ct=5

Almost 50,000 students will graduate in 2007 with an average debt of £11,000 but a staggering 14,500 will owe more than £20,000 with some even hitting the £30,000 mark according to new research.

Overall during the past decade British students have amassed an astonishing £27bn mountain of debt, equivalent to half of New Zealand's GDP, forcing almost 10% to consider bankruptcy as a solution.

The study, the Student Debt Report, by uSwitch, a comparison site, reveals that this year students face a total debt of £3.2bn upon graduation, an increase of 167% since 1997 - eclipsing the 51% rise in graduate salaries from £15,500 to an average of £23,451.

Easier access to credit over recent years has exacerbated the situation and now graduates are finding themselves stuck facing an average debt sentence of 11 years.

The Student Loans Company alone is granting 203% more than it was in 1997. With 77% of final year students claiming that the terms of their loan could have been explained better, there is an obvious and pressing need for clearer information from the Student Loans Company and the banks alike says uSwitch.

The number of student loans being taken out annually has more than doubled in the past 12 years from 430,400 to 880,700 per academic year. In London, young people who take out the maximum student loan each academic year will start their working lives with a total debt of £17,960 excluding overdrafts and other debts and repay interest totalling £5,534 - a total of £23,494.

As a result of the growing debt mountain almost half am, or 35% of recent graduates will postpone starting a family, marriage or buying their own home by an average of six years, says uSwitch.

The cost of attending university has risen over time, partly due to increased tuition fees and, to a lesser extent, due to increased housing costs,' says Mike Naylor of uSwitch. 'As a result, more money than ever is being borrowed by students to fund their way through university, with some students starting work with debts of up to £30,000. Since 1997, threem graduates have delayed getting married, having kids or buying a house by at least six years due to the crippling effects of student debt.'

In a separate report by Alliance & Leicester it found that 43% of young people admit that the prospect of acquiring debt whilst at university is putting them off going at all and instead they are more attracted by the prospect of earning their own money straight away.

Some 10% of 16-21 year olds who do not plan on going to university say they think further education is 'a waste of time'.

That's what Labour's "education-education-education" must mean. Graduate with a debt mountain and postpone starting a family, marriage or buying their own home thanks to the muppet's miracle economy.

No wonder why some poor souls think further education is a 'waste of time'. 167% incrase of student debt & 250% increase of cost of housing since 1997 with a 51% rise in graduate salaries. You do the maths!

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http://www.thisismoney.co.uk/saving-and-ba..._id=52&ct=5

That's what Labour's "education-education-education" must mean. Graduate with a debt mountain and postpone starting a family, marriage or buying their own home thanks to the muppet's miracle economy.

No wonder why some poor souls think further education is a 'waste of time'. 167% incrase of student debt & 250% increase of cost of housing since 1997 with a 51% rise in graduate salaries. You do the maths!

http://business.timesonline.co.uk/tol/busi...icle2256460.ece

Says here that average student debt fell last year by 6%

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It depends really, students need to make an assessment of what theyre degree will cost them and whether its worth it. If you go to a poor University (of which there are an awful lot in Britain) and much around for 3 years spending thousands on beer and partying and then end up with a 2.2 in some not especially useful discipline then its possible that your degree might not pay for itself.

This incidentally is exactly what I did and Im aware I have only myself to blame. However the job Im doing now, which I like a lot, is one of those that was only open to graduates so it looks like I got away with it!

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For the vast majority of the population, it IS a waste of time, as they emerge with debts and unrealistic expectations but no useful information learned. For some reason there is a feeling that funding 3 years' unnecessary education through tax for the majority of people is a noble pursuit.

25% AT MOST of young people should be going. The rest should be trained up in professions or trades that are actually required in the country.

Halve the university places on offer, double the support to those who do go, net result we end up with more plumbers and electricians, and students who aren't under mountains of debt.

University has always been a 3 year jolly. The difference now is that the student foots the bill. If they want lower debts simply drink less, live at home and (dare i even suggest it?) get a job before going and while studying.

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It depends really, students need to make an assessment of what theyre degree will cost them and whether its worth it. If you go to a poor University (of which there are an awful lot in Britain) and much around for 3 years spending thousands on beer and partying and then end up with a 2.2 in some not especially useful discipline then its possible that your degree might not pay for itself.

This incidentally is exactly what I did and Im aware I have only myself to blame. However the job Im doing now, which I like a lot, is one of those that was only open to graduates so it looks like I got away with it!

Dont know what job your doing but this situation that has arrisen over the last few years ' Only open to graduates' is quite often a load of balony. Where I used to work they introduced a 'graduate only' policy, when at the time only about 35% of current technical employees had a degree, it realy didnt make much difference to the quality of new employee. Think as the other avenues of predjudice run out re legal issues, this is the one they will get away with. These companies are perpetuating the never ending education setup that we are currently stuck with. The vast majority of jobs dont in reality require a degree in anything, just maybe common sense and a couple of years on the job and a bit of training usualy. And as for Labour doing this, belive me, they are all doing it, Australia down the same path under an extreme conservative government, US has always had this, Tories wont change it, maybe they will just make it a bit more exclusive to keep the rifraff out.

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Guest anorthosite
Must be referring to Scotland where its free--part of Brown's "Scottishness" policies to favour his homeland at the expense of "Britain."

its nothing to do with Gordon Brown - education is devolved in Scotland. I seem to remember it was the Lib Dem contingent of the Labour/Lib Dem pact that forced this through - it was the only way for Labour to buy their support in coalition.

Blair and Brown hated it as I recall. One of devolution's sweeter moments :lol:

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Guest DissipatedYouthIsValuable
http://business.timesonline.co.uk/tol/busi...icle2256460.ece

Says here that average student debt fell last year by 6%

It didn't. And there's only so much press distortion of reality people can take before they see the dissonance and just ignore you. Then you'll have a revolution, if we haven't all ******ed off to somewhere nicer to live.

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Guest anorthosite
University has always been a 3 year jolly. The difference now is that the student foots the bill. If they want lower debts simply drink less, live at home and (dare i even suggest it?) get a job before going and while studying.

It depends on the course. Media studies? Yes. Business Studies? Probably. Physics? I doubt it. Geology? Speaking from experience, no. I had 5 years of working in industry before going to uni, I'd say a science degree is as tough, if not tougher (depending on the job) than working full time.

Its frustrating doing a proper degree while art students sunbathe outside :angry:

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University has always been a 3 year jolly. The difference now is that the student foots the bill. If they want lower debts simply drink less, live at home and (dare i even suggest it?) get a job before going and while studying.

Exactly what I did, worked at asda pushing trollies and working on checkouts. Paid for my uni stint and then some.. Not the same uni experiance most others had what with the living away from home etc. But I still had loads of fun, and thats not why you go. I went to spend 3 years of my life qualifying for minumum wage thanks :lol: and finding all my friends and family in the building trade were on far more than me.

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It depends on the course. Media studies? Yes. Business Studies? Probably. Physics? I doubt it. Geology? Speaking from experience, no. I had 5 years of working in industry before going to uni, I'd say a science degree is as tough, if not tougher (depending on the job) than working full time.

Its frustrating doing a proper degree while art students sunbathe outside :angry:

I have a Geology degree but what I found was that to get anything decent after graduation you really had to do a Masters (a Masters being the new BSc) I was hacked off with the whole thing by that point and did something else, but out of the 100 or so on my course I would estimate that at least 70 had to go on to do a masters to get a job in the field - and this is from a "proper" University.

And yes it was hard work - but the fieldtrips were fun.

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http://www.thisismoney.co.uk/saving-and-ba..._id=52&ct=5

That's what Labour's "education-education-education" must mean. Graduate with a debt mountain and postpone starting a family, marriage or buying their own home thanks to the muppet's miracle economy.

No wonder why some poor souls think further education is a 'waste of time'. 167% incrase of student debt & 250% increase of cost of housing since 1997 with a 51% rise in graduate salaries. You do the maths!

Although if they did actually do maths rather than ******ing about with media studies going to university would be a much more viable proposition.

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Must be referring to Scotland where its free--part of Brown's "Scottishness" policies to favour his homeland at the expense of "Britain."

Yes, now totally free since the SNP abolished NuLabour's sneaky £2,000 graduation tax !

Alex is ma darlin !!!!!!!!!!!!!!!

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Must be referring to Scotland where its free--part of Brown's "Scottishness" policies to favour his homeland at the expense of "Britain."

Really Realistbear, what drivel.

Brown has no say in the policies of the Scottish parliament.

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It depends really, students need to make an assessment of what theyre degree will cost them and whether its worth it. If you go to a poor University (of which there are an awful lot in Britain) and much around for 3 years spending thousands on beer and partying and then end up with a 2.2 in some not especially useful discipline then its possible that your degree might not pay for itself.

This incidentally is exactly what I did and Im aware I have only myself to blame. However the job Im doing now, which I like a lot, is one of those that was only open to graduates so it looks like I got away with it!

You could do with at least another term at university with your spelling!

It's THEIR degrees.

They're means they are with a few letters missing.

I'm the best a grammer.

Edited by 29929BlackTuesday

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Really Realistbear, what drivel.

Brown has no say in the policies of the Scottish parliament.

Not now thank god, since the McSheeple finally woke up to the fact they were living in a Stalinist one party state, and booted the liars out.

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It didn't. And there's only so much press distortion of reality people can take before they see the dissonance and just ignore you. Then you'll have a revolution, if we haven't all ******ed off to somewhere nicer to live.
Err.....care to justify that?

He read it in the media. Remember it's OK to believe what you read aslong as it supports the HPC cause...

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