Home > News > Debt advice

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`

Students fear debts will take decades to pay off

28/09/2009

A study commissioned by insurance company Endsleigh has found that out of 1,895 students, 23.3% believe it will take them up to 20 years to repay their debts, the Telegraph reports.

Nearly three in ten (29.2%) of the students believe they will graduate with debts in excess of £20,000, while 16.8% think they will leave university with debts of up to £15,000.

The insurance company found that while 8.1% of students are planning to repay their debts as soon as they leave university, 3.9% believe they will never be able to repay them. Despite this, 7.5% believe they will graduate with no debt at all.

The research also found that students are keen to reduce the amount of debt they have when they graduate, with 38.9% planning to get a job while at university, and 25.2% saying they `might do`.

James Crocker, Financial Adviser at Endsleigh, said: "The results of the survey point to the increasing financial strain that today`s student is under. In the short term, students need to manage their finances as carefully as possible by creating a budget and sticking to it so as not to get into even more debt."

---

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