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More than 4 million fear they`ll be made redundant Consumers took on more mortgage debt in July Debts called in by parents Teenagers `scared of debt` Rising household costs could pressure people in debt Pensions debt may impact workers` retirement funds Welsh young adults `at highest risk of debt problems` Over 50s can`t afford to enjoy retirement because of debts Budget: tackling the nation`s debt Short-term debt: `no need for price control` The cost of clearing debt Education debt Tackling the national debt Number of mortgage deals on offer exceeds 3,000 Almost 5 million take on debt to pay household bills OECD: household debt more than 120% of disposable income Petrol price falls help people in debt Amount of mortgage debt taken on at lowest level in ten years Northern Ireland sees significant IVA rise Overdraft debt `becoming more expensive`

Scottish students could take 10 years to pay off debts

17/07/2009

New research has claimed that 68% of Scottish students expect to take at least 10 years to pay off their debts after they graduate, scotsman.com reports.

According to a study by the Association of Investment Companies, over 1 in 3 Scottish students believe they`ll graduate with debts of £10,000 or more - while 1 in 25 expect to accumulate over £20,000 of debt.

President of the National Union of Students, Wes Streeting, said: "Unfortunately, students are already racking up thousands of pounds of debt, and with graduate job prospects at an all-time low, many of them will be unlikely to be able to pay this debt off for years to come."

A spokesperson for Debt Advisers Direct commented: "It`s important to be aware of the different types of `student` debt.

"Loans from the Student Loans Company only start to be repaid when the graduate is earning over £15,000. But students who have fallen into debt by other means, such as store cards and loans, may find that making their monthly repayments is extremely difficult without a stable income.

"Anyone in that situation should contact a professional debt adviser before their debt can grow any more."

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Debt Advisers Direct offer free debt advice and a range of debt solutions, including debt management plans, debt consolidation loans and IVAs (Individual Voluntary Arrangements).

More than 4 million fear they`ll be made redundant 16/12/2010 - According to R3`s quarterly personal debt tracker, more than 4 Consumers took on more mortgage debt in July 26/08/2010 - Consumers took on £2bn more mortgage debt than they repaid Debts called in by parents 26/08/2010 - According to research, `the bank of Mum and Dad` is Teenagers `scared of debt` 19/08/2010 - Nearly two thirds of teenagers are `scared` of debt, according