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26/07/2001
Barclay survey reveals extent of student debt
A survey by Barclays bank has revealed that the average student debt for 2001 in the UK is £5,961.
The poll revealed that nearly nine out of ten undergraduates in the UK have loans while the average loan in Northern Ireland was £5,654, slightly below the overall UK average.
The overall UK figure is an increase of £1,600 from 2000, when the average was £4,339.
The survey, which is in its tenth year, reflects the growing reliance on credit following the abolition of student grants and the introduction of the loans system.
In 1992, just 31 per cent of students had loans, now 88 per cent have loans with only five per cent of students able to avoid debts.
Barclays said that four in ten students carry out paid work for an average of 15 hours a week to fund their studies. Eight out of ten also take holiday jobs earning an average of £1,426.
The worse hit UK region is the South East and East Anglia where average student debt is £5,654 while the least student debt is found in Scotland at £4,245.
(MB)
The poll revealed that nearly nine out of ten undergraduates in the UK have loans while the average loan in Northern Ireland was £5,654, slightly below the overall UK average.
The overall UK figure is an increase of £1,600 from 2000, when the average was £4,339.
The survey, which is in its tenth year, reflects the growing reliance on credit following the abolition of student grants and the introduction of the loans system.
In 1992, just 31 per cent of students had loans, now 88 per cent have loans with only five per cent of students able to avoid debts.
Barclays said that four in ten students carry out paid work for an average of 15 hours a week to fund their studies. Eight out of ten also take holiday jobs earning an average of £1,426.
The worse hit UK region is the South East and East Anglia where average student debt is £5,654 while the least student debt is found in Scotland at £4,245.
(MB)
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