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Expert gives graduate finance tips
Wednesday, 15 July 2009
Life after graduation
A journalist writing in the Scotsman has offered advice to those graduates facing the prospect of debts and a lack of graduate jobs.
Jeff Salway was responding to new research which shows that 38 per cent of students are expecting to leave university with a £10,000 graduate debt, while a further four per cent are anticipating arrears of up to £20,000.
Mr Salway warned that graduates should not panic as interest on student loans is to be cut to zero per cent in September, which will save university leavers an average of £220, according to the Student Loans Company.
The expert told the newspaper: "More students are now returning to their family home and for longer periods, to save on the biggest living expenses, such as rent, and to ease the debt burden."
Clare Francis, site editor at price comparison service moneysupermarket.com, recently said that those with graduate debt should take advantage of interest-free overdrafts, with some offering a limit of £2,000.