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Graduate debt tips offered by expert
Friday, 03 July 2009
Life after graduation
A financial expert has given some advice to graduates worrying about the level of debt they have accrued during higher education.
Clare Francis, site editor at price comparison service moneysupermarket.com, said that those with graduate debt can still take advantage of interest-free overdrafts, with some offering a limit of £2,000.
Taking out a loan or mortgage after university is also fine, according to the expert, as long as repayments on any existing graduate debt and new owings are met and credit scores are kept in tact.
Ms Francis added: "If your debts are unmanageable seek help as soon as possible. The Citizens Advice Bureau and Consumer Credit Counselling Service offer free debt advice."
A government-commissioned report by the Institute for Employment Studies and the National Centre for Social Research recently found that a rise in tuition fees had caused graduate debts to rise by two-thirds since 2005.