University cost may force debt consolidation
University cost may force debt consolidation
Wednesday 9th December 2009
Universities have been accused of not doing enough to make students aware of the funding available to them in the form of bursaries by the government's Office for Fair Access (OFFA).
Bursaries are available to students who are facing financial hardship and are often funded by bequests from former graduates, although OFFA's recent study found that information on them is often sketchy or non-existent.
Johnny Rich, editor of online university guide Push.co.uk said that universities must put more effort into making university students aware of the bursaries which they are entitled to.
He said: "Universities putting the money into bursaries need to put them right upfront in their marketing. For many students it will be a deciding factor in whether they apply to one university or another.
"The main problems with the current package is not its fairness or lack of it, but it is too complicated to be fair because the people who understand the system are the ones who are most likely to be able to pay for themselves."
Parents who are concerned that they may not be able to fund their children through university could benefit by talking to a debt management company.
This week, there was concern that graduates will not benefit financially from having a degree as much as previously thought.
Chair of the current review into student fees Lord Browne said that graduates can expect to earn £100,000 extra over their working life, while previous estimates put the figure closer to £400,000.
News article brought to you by Debt1 – UK debt management specialists
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