English Students Have The Most Debt In The WORLD
Students in English universities leave with the most debt in the world, new research has found.
And this is before the axing of Student Grants which will impact those starting courses in September of this year (2016).
Those who graduated from English universities last year, the first to do so having paid £9,000 a year in tuition, left with an average of £44,000 of debt.
That compares to an average of between£20,500 and £29,000 for those in American university (depending on public or private institutions) and £15,000 in Canada.
Average Student Debt
UK – £44,000
New Zealand – £23,000
Australia – £20,900
Canada – £15,000
The numbers will only get worse in future with students beginning study in 2016 having no access to student grants, which have been replaced with bigger loans.
It means those graduating from 2019 will leave owing more than £50,000.
Sir Peter Lampl, chairman of the Sutton Trust and Education Endowment Foundation who carried out the research, said the figures could effect students for the rest of their lives.
“They impact on the ability of graduates to go to graduate schools, to afford a mortgage, the timing of having children and other major life decisions,” he explained.
And sir Peter suggested: “The cost of going to university has become so expensive that more young people should seriously consider higher level apprenticeships, preferably to degree level.
“By choosing this route they will earn while they learn, incur less debt, and develop skills which are greatly valued in the workplace.”
Photo by REX Features.