Student debt on the increase

Those enrolling at university in September 2007 can expect to leave with a debt exceeding £20,000, new research has indicated.

A Push study in association with Lloyds TSB has found that this has increased from the £17,000 in arrears estimated for last year's bunch of new starters.

Furthermore, it found that debt for students has increased nearly a quarter over the last term, costing nearly £4,000 for every 12 months a person spends in higher education.

But Lloyds TSB's Catherine McGrath commented that strong financial provision may help people cut down the bill.

"Good budgeting skills can really help students to start off on the right foot while they get to grips with managing their own money. A smart approach is to plan ahead and seek guidance now," she said.

College students around the UK will find out their university futures when A-level results are published later this week.

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