- Monday, 14 June 2010More graduates could face
debt management plans in their future as the amount borrowed through personal
loans has increased.
Students are increasingly being obliged to pay for field trips, books and work-related visits as funding to universities is cut.
These added financial burdens are causing more people to take out personal
loans, which can only add to the amount of debt they will owe when they graduate.
Paul Cottrell, head of policy at University and College Union, said: "There have been additional costs for students. One quite interesting thing to pick up on is that they are now expected to pay for things themselves which used to be paid for as part of the course."
He added that students also face difficulties gaining part-time employment due to the recession.
According to Sainsbury's Finance, consumers borrowed £37 million of personal
loans in order to pay for education in the 12 months up to February 2010.
Furthermore, the cost of education increased by five per cent in the same period of time.
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