- Wednesday, 25 November 2009Most students will still be in debt in their mid-thirties, despite a willingness to work through much of the holiday season.
That is according to research from studentgems.com, which found 82 per cent of undergraduates expect to work through the majority of the festive period, including Christmas Day, but most will not escape their debts for many years yet.
This could cause a rise in the number of people entering into
individual voluntary agreements (IVAs) as ex-students continue to grapple with financial security well into their thirties.
Joanna Ward, co-founder of studentgems.com, said that while students' work ethic should be commended, they ought not forget what this time of year is all about.
She commented: "[Taking on a Christmas job] is a good thing to do as it helps prepare students for working life. However, working on Christmas Day and Boxing Day is a bit extreme; these days should be spent with family and friends."
Many students faced financial difficulties at the start of this academic year as a result of a delay in the authorisation of student loans.
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