Students 'shouldn't worry about inevitable debt'
Published On 30 June 2007
Students probably have to accept that they will get into debt when they attend university, but they can act to manage this and not get into serious financial trouble, an industry expert has said.Frances Walker, a spokesperson for the Consumer Credit Counselling Service (CCCS), said that debt was a reality for almost all students, but careful money management could avoid the need for things like IVAs after graduation.
Ms Walker added that it was important that fears about debt did not put people off attending university.
"You probably have to accept that you are going to get into debt, and not worry about it," she explained.
"I'm not suggesting you go out and run up hundreds of [pounds] of debt or anything, but you have to accept that going to university nowadays does involve debt.
"The whole thing is premised on the idea that you have a greater earning capacity when you leave university."
However, Ms Walker added that it was still unusual for students to get into real financial trouble while at university.
"A couple, for example, who might be getting married or setting up home together - if they've both got student debts then that could amount to quite a significant amount of money," she concluded.
