Aug
16
The Tragedy Of Student Debt
Filed Under Finance
Whilst writing our article about the importance of a good credit history for newly graduated students on MoneyHighStreet yesterday, it struck me how difficult it must be for students these days.
With it costing around £13,000 per year to go to University, including the tuition fees, money and debt must feature heavily in most students minds when they should be having fun finding out about the world and I guess doing a bit of studying here and there too.
To spend time and energy worrying about money and an ever increasing debt burden, must take some of the edge off the experience of university. No doubt this is why so many students do part time jobs during term time and then work for most of the holidays.
That’s a shame because there is plenty of time (hopefully) after graduation to tie yourself down with work and committments. That golden time between school and becoming a “proper” adult is an opportunity that probably won’t be there again.
Maybe, though, having to pay and borrow to be at university means that you value it more and work harder. I guess that is good in some ways, though it makes university more of a apprenticeship rather than an opportunity for learning and discovery in its widest sense.
Then to graduate with debts of around £17,000.
Its hard enough as it is finding a deposit to buy your first place, or the money to buy a reasonable car. To be saddled with a £17k debt at that stage in your life must be very difficult, and is probably why so many graduates cannot afford to buy property until their early thirties.
I admire the students undertaking these costs and debts to further themselves, but I think it is a tragedy that this is forced on them. Money and debt problems will be plaguing them enough during their life after university, without it marring their experience whilst studying for a degree.
