Shepway Students see Debt Increasing

The 2006 NatWest Student Money Matters survey reveals that sixth formers starting university this year expect to pay £33,512 for a three-year degree course. This is up from £28,600 last year and includes the new tuition fees. As a result, they expect to graduate with £14,779 of debt, an increase of £1,099 on 2005 figures.

Over half (57%) of the students questioned admitted to being concerned about the amount of debt that they were in.

For sixth formers starting university this summer, the biggest concern was money being tight (71%). Worrying about finances continued to outweigh concerns about the educational aspects of university by 11%, as 60% were concerned about failing their exams or keeping up to date with the workload (59%).

Commenting on the survey, Liberal Democrat Shadow Education Secretary, Sarah Teather MP said:

"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."