Parents and students underestimate graduation debt
Parents and students underestimate graduation debt
Friday 18th July 2008
In a study conducted by You Gov on behalf of the Association of Investment Companies (AIC) the majority of students predicted that they will graduate with £12,203 of debt.
Parents, meanwhile, pegged the figure at just £9,861.
However, according to the National Union of Students the addition of top up fees will bring the sum owed by students graduating next year to £20,000.
Annabel Brodie-Smith, communications director at the AIC, said: "It's alarming that few of tomorrow's graduates or their families really comprehend the financial implications of top up fees and both have underestimated the amount of student debt they will face on graduation.
"Whilst there are many benefits that come with a university education, on graduation many young people find themselves struggling to repay their debt."
Parents and students who are concerned over their student debt levels are urged to consult a debt advice agency for professional help and information regarding debt management solutions.
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