15 April 2005
Experts are today recommending those nearing graduation to consider applying for personal loans upon completion of their studies.
The advice follows new research revealing that students leaving university this summer will shoulder in excess of £2.46 billion of debt.
This averages out at approximately £13,501 of debt per person.
Jeremy Law, head of student and graduate banking at Barclays, commented: "As predicted, graduate debt is continuing its upward trend, due to a number of factors including rising living costs, and a more resigned attitude towards debt."
The best way to deal with these debts could be through personal loans, the new advice suggests.
By doing this, newly graduated people can avoid the high interest rates many services charge on their debt. Personal loans can also ease repayments.
Use uSwitch's free and impartial loan comparison calculator to find the loan to suit your needs.
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