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Graduates may face £20,000 debt
Tuesday, 14 August 2007
Students starting university next year could face graduate debt of over £20,000, according to new research.
A student survey, compiled by Lloyds TSB, has shown that last year's intake may leave university with up to £17,500 worth of debt, with the figure increasing by £2,500 for future graduates.
Due to top-up fees, debts differ greatly depending on location. The average debt stands at £13,000 but projected figures at some universities are already in excess of £20,000.
Commenting on the figures, Catherine McGrath of Lloyds TSB said: "Students face higher levels of debt than ever before and with the added pressures of escalating house prices and increased competition for graduate jobs, it's essential that they find ways to keep their student debt to a minimum."
Meanwhile, research by the Higher Education Policy Institute suggests that the rising cost of UK university is driving international students elsewhere. The UK's share of global students dropped to 11 per cent in 2004 from 16 per cent in 1998.