Graduates, give your debts the third degree

The Daily Telegraph
Graduates, give your debts the third degree

Half a million students will leave university over the coming week with more than just a degree to their name. A significant number will be graduating with debts of more than £13,000. For many, their debt problems are just beginning. Many graduates find their financial situation worsens as they start work. Not only do they have large debts to service but many have to find additional money to fund a new place to live, clothes for work and travelling expenses. But the average starting salary for graduates last summer was just £13,860. Graduates may still be celebrating the end of their finals, but they face the sobering prospect of getting to grips with their finances and managing these debts. It may seem an uphill task, but those who started university last year face a mountain in comparison.
[The Daily Telegraph page 2 - 6.11.07. Also reported in The Times page 23, The Guardian page 2 and Financial Times page 3.]