Industry News
Expensive education 'creates debt-happy students'
Posted on 27th September 2007
University education is so expensive that for many students, debt has become an "expected way of life", an expert has claimed.
Becky Boden-Wilkes, spokesperson for the National Debtline, has said borrowing money is less frightening and more acceptable to students and young people because their education means they are likely to have £15,000 of debt by the time they graduate.
She said students should budget and really work out what they need each week. "Then you know what you can spend rather than spending it all in the first few weeks and now really having much to live on," she added.
CreditAction, a charity providing money education and advice, claims that young people are "educated into debt" but receive no guidance on getting out of it.
A recent article in This Is Money claimed students who graduated this year face a total debt of £3.2 billion, an increase of 167 per cent on ten years ago.
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