We've had a sharp rise in calls from students and those providing financial support to student family members
(PRWEB) August 24, 2007
The Debt Counsellors are set to increase student support as the affect of 'top-up fees' sees debts worries soar.
Following the implementation of the controversial new top up fee legislation, Universities will be able to charge students up to a maximum of £3,000 per year for courses, with costs rising year-by-year according to inflation. Full fees in 2008-09, therefore will be £3,145 per year. Scottish universities will charge £1,700 per year (£2,700 for medical courses), but only to non-Scottish students.
Deepening debt and debt consolidation worries - a 31% rise according to the National Union of Students (NUS) are now affecting 90% of students with knock-on effects for supporting parents who also bear the rising debt and debt consolidation burden.
Poorer students on average owe 15% more on graduation and, the NUS also predict, top-up fees, combined with increases in the cost of living could raise student debt at graduation to as much as £33,708 by 2010.
The first annual Halifax UK Student Finances Survey also provides evidence of the rising debt burden stating that UK students currently have, on average, over £7,500 of debt with 43% forced to take the plastic option causing an anticipated rise in those seeking debt counselling and debt management advice.
Figures, published on Push.co.uk - the organisation that provides a comprehensive guide for new university students, show projected debt rising at an alarming rate and described as "extremely worrying" by students' leaders.
"We've had a sharp rise in calls from students and those providing financial support to student family members" said a Debt Counsellors spokeman, "and so we've put together tailored advice plans especially for students to help them with their debt issues.
If you are concerned about your finances please call The Debt Counsellors for expert debt advice.
To be Debt Free in 36-60 months, please call: 0800 018 6018 or visit http://www.debtcounsellors.co.uk