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Junior ISA will help 'support' prospective students

Published: Thursday, 31 March 2011   Category: All Graduate job news

Many prospective university students worry about graduate vacancies before even entering higher education, as they fear much of their pay will go towards paying off their student loan.

However, now more people may be going to university after the government announced the launch of the Junior ISA.

Young people and their parents can put money into the savings account, which is locked until the person reaches eighteen, reports The Guardian.

This means people may be able to take less well-paid graduate roles after leaving university, as there will not be as much pressure to pay the student loan, which was saved for.

Some sectors which require entry-level university-leavers to take lower paid jobs include the media and politics.

George Osborne, chancellor of the exchequer, announced the moves in the house of commons, saying they would particularly help children in care.

"I know that these children face particular challenges and I can tell the House that the Department for Education will work with others to make the necessary funding available to ensure that we can provide the support that they deserve," he said.

The government has announced that around 800,000 children will benefit from the new scheme.

Find your graduate vacancies at gradplus.com

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