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Student Debt
Stats show the cost for completing a 3 year
university course now averages £35,000
in the UK, student debt has become a major worry for many people attending
university. The overall costs are even higher in London. The prospect
of huge
student debt is putting some off from going to university, or encouraging
them
to study close to home so they can continue living with their families
and save
on accommodation costs. The average student debt for graduates is
thought to
be anything from £10,000-£20,000, with expenses including things like:
• Tuition fees
• Rent
• Books/Equipment
• Food and Utilities
• Entertainment and Travel
Related searches;
Student Financial
Advice
Student loans
Student
Bankruptcy
Student
Grants
Student
Bank Accounts
If you get into significant student debt, there are various places
you can go for
help & advice, such as your financial aid office or the Citizens
Advice Bureau. In the
past, some have written off their student debt by declaring bankruptcy,
but this
is no longer possible, as new legislation was introduced to prevent
it and this
loophole was closed by the government with the Higher Education Act
of 2004,
which means that student loans are no longer provable in relation
to bankruptcy,
and the borrower is still liable to replay the student loan in full.
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