8 October 2007
A new survey from youth charity Rainer shows a wide-spread debt problem among 18-24 year olds in the UK.
One third of the age group were found to be starting their adult lives with over £5,000 of debt - with three quarters having experienced debt of some kind.
A hard-core of one fifth had also owed more than £10,000 at one point, Rainer found.
Chief Executive of Rainer Joyce Moseley, commenting on the charity's findings, said: "Young people tell us that being in debt is now just part of the norm, but it can quickly become a millstone around their neck.
"In addition to the stress it can cause, there is strong evidence that debt can prevent young people from living independently or taking part in education or even eating healthily."
The most widespread kind of debt was student loans - with almost 50% of young people having outstanding payments.
Higher-interest forms of debt, however, were also worryingly prevalent: 38% of those surveyed had overdrafts and 32% owed on their credit cards.
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