'Mountain of debt' deterring students

2.19.53pm UTC (GMT +0000) Tue 15th Aug 2006

Commenting on today's 2006 NatWest Student Money Matters survey which shows an 5% increase in the average debt owed by graduates leaving university, local Liberal Democrat MP, Dr Evan Harris, said:

"The prospect of incurring 'a mountain of debt' is deterring students from disadvantaged backgrounds from further education."

Today's survey on levels of student debt showed that graduates leaving university this year had average debts of £13,252 - a 5% increase on 2005.

Sixth-formers heading for college this year expect to leave their courses with debts of nearly £15,000.

Although the rise in graduate debt was slower than in previous years,

62% of graduates still left university owing more than £10,000. The

figures were compiled from a survey of graduates, current students and

sixth formers.

"These figures reveal the damaging effect of top-up fees. The prospect of incurring a mountain of debt is deterring students from disadvantaged backgrounds from further education.

"The Government's flawed policy of top-up fees has resulted in school-leavers more concerned about how much attending university will cost them than how much it will benefit them.

"Today's twenty-somethings face serious financial problems because of student debt that their parents never encountered.

"This generation faces an unprecedented burden of debt which is going to affect their ability to buy homes, start families and save for old age."