One in 10 uni students facing insolvency
University students have accumulated huge debts
A staggering one out of 10 university students in the UK is facing being
declared insolvent because of the debts they have accumulated while studying.
Research by uSwitch.com, the price
comparison website, found that students face total debts of £3.2bn, almost three
times that of the class of 1997.
uSwitch found that one in 10 could be declared insolvent after borrowing
thousands to pay for tuition fees and accommodation.
This startling finding comes as 200,000 sixth-formers prepare to start
university this year.
Despite these findings, The Department of
Innovation, Universities and Skills insisted debt levels were not deterring
people from higher education, with numbers expected to be up on 2006.
Further reading:
ACCA backs schools teaching finance
PwC launches April graduate intake
