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Graduates 'should hunt out the best bank account'
Friday, 05 September 2008
Life after graduation
Those looking for graduate jobs would do well to search for a good bank account at the same time, according to one expert.
Ed Kendell, spokesperson for Farinvestment.co.uk, explained that as many people leave university with large overdrafts, they would do well to make sure they are getting the best deal.
"Forget your loyalty to your bank - you will fare much better if you look for what is best for you right now."
He suggested that graduates should look for the account with the largest interest-free overdraft.
People should also consider the fees they will be charged if they exceed their overdraft limit, he added.
Yesterday, the Times reported claims by the National Union of Students (NUS) that student debt could increase to £37,000 if caps on tuition fees are removed, as is expected.
The NUS also predicts that interest rates on student loans could be set to rise in future because of the current economic climate.