Student Debt Levels Blamed For Half Of Drop Outs

Large levels of debt is the reason why half of students that leave university decide to drop out.

New figures suggest that debts are having a real impact on the lives of students.

And while the average graduate can now expect to owe £15,000 by the time they receive their degree, half the people that do not make it that far blame their borrowing.

And the £15,000 debt exists despite the best efforts of students and their families.

Close to half (45 per cent) of undergraduates work more than 16 hours a week during term time, with more than four in five (81 per cent) working over the summer holiday to lessen their debts.

Additionally, some 58 per cent of students receive £5,000 from their parents to help them during their time at university.

But despite all this, not to mention student loans, more than three students in five (62 per cent) struggle financially during their time at university.

The majority of students do budget, but if they are to emerge from university financially stable, it is increasingly vital that they are well educated about how to manage their money.

Some 58 per cent of students draw up budgets to help them manage their money.

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