NEW STUDENTS SHOULD EXPECT TO
OWE OVER £20,000, PUSH SURVEY REVEALS
The UK’s largest ever survey of student finance, published today on Push.co.uk, reveals that students who started at university last year can expect to owe over £17,500 by the time they leave and new students should reckon on nearly £4,000 more than that.
The annual survey by Push, the UK’s leading independent resource for prospective students, has found that student debt now tops £4,500 for each year of study – a hike of 9.6% since last year.
The Push Student Debt Survey is the most detailed annual analysis of students’ financial position and this year’s is the largest to date, involving face-to-face interviews with over 2,000 students at 136 university campuses throughout the UK.
Prospective students receiving their A level results tomorrow will be particularly concerned that, at over twice the rate of inflation, the rise suggests that students are being particularly badly hit by the worsening economy. This may be because rising food costs and rent make up a large and inflexible part of students’ outgoings.
The different funding arrangements around the UK are also reflected in the data. In Scotland, which has the most generous funding system, debts are lower than England or Wales. However, the Scottish average of £3,453 a year is an increase of nearly a third in the past year and, allowing for their four-year courses, students north of the border are only slightly better off in the long run.
Meanwhile, with an average of £4,729, students in England owe £199 for each year more than the national average.
There is considerable variation between individual universities too. The national average projected debt on graduation stands at £14,161, but at 11 universities, the figure has already broken the £20,000 barrier. At others borrowing is likely to remain under £10,000.
The figures posted today on Push.co.uk form part of the website’s detailed profiles of every university in the UK, covering every aspect of student life from teaching standards to the price of beer on each campus.
With university clearing starting tomorrow, Push.co.uk features exclusive, insider information on finding the right university and tips to give your application the edge. The website also boasts the ‘Uni Chooser’ tool, the uniquely powerful search-and-sort facility which enables students to find the university most suited to them.
Johnny Rich, Series Editor of Push.co.uk, commented:
“It’s easy to become immune to stories about student debt, but this increase is not just another rise. Some students are facing real financial hardship. Even so, the advantages of having a degree still vastly outweigh the costs and the Push survey shows that – with high quality advice and information – students can keep their debts down while still enjoying the benefits of university.”
- ends -
For a full version of The Push Student Debt Survey 2008, visit www.push.co.uk/press/student-debt-survey-2008
For further information including university league tables, top tens, regional and local breakdowns, and interviews with Johnny Rich, Series Editor:
Laura Davis: Tel: 020-7005 3650/1/4
Outside office hours, contact Johnny Rich: 078 1111 4292
NOTES TO EDITORS:
Push was founded in 1992 as an independent organisation that visits every university in the UK every year gathering the country’s largest resource of information for prospective students.
Each year Push also visits hundred of schools, colleges and sixth forms giving advice direct to students and is a respected supplier of information about higher education to media outlets and businesses.
This information is presented in an accessible and user-friendly style and published without fear or favour at www.push.co.uk. The site provides an invaluable resource for anyone hunting for a university place. It features comprehensive information about each university, application and survival advice, financial guidance, forums and a uniquely powerful search function to help applicants identify the right university for them.